Fallout From The Mortgagte Debacle -Banks Are Still Hurting Americans

The American people also know something is wrong when the bankers get billions of dollars in bailout money whiles they get the Bankruptcy Reform Act of 2005. This Act makes it quite difficult for them to keep their homes when facing the same financial circumstances the banks face. Furthermore, the home foreclosure rules seem to be deliberately written in favor of the banks. All this alludes to the fact that as far back as 2005 someone knew the banking crisis was about to take place. They protected the banks instead of protecting the people with the law. However, they did not warn anybody of the impending crisis. Instead, they continued to make high-risk loans that have put the entire country on the brink of financial collapse. Cities, towns, and states can no longer make ends meet. What they have done to all of America, including themselves, is synonymous to treason.

The Obama Administration promised hope and change. So far, we have seen very little hope and almost no change. His predecessor, George Bush, said he was going to Washington to break the gridlock and improve how things are done. That was an empty promise too. At this point Americans are wondering if the bankers are more powerful then a U.S. President. Nevertheless, believing the bankers are more powerful then a U.S. President is called a conspiracy theory too. Maybe the Bankers simply have a greater ability to get laws passed through the Congress. With that said, there have been some great politicians in the past that have tried to prevent special interest groups, like banks, big pharma, and the military industrial complex, from taking over congress. So far, they have failed with no hope and little change.

Obama said he would fight for the homeowners and get the bankruptcy laws changed. He said a tough approach was needed to make the banks cooperate. So far, the best help Americans have received are from vultures that prey on them in the form of Loan Modification. For a fee, they will not guarantee your loan is modified but they will try. The alternative is to use the bankruptcy laws, which will lump all your back payments into a new second monthly payment. Now, the homeowner still has their original mortgage payment plus an additional payment. If they could not afford the first payment, they will surely fail with two payments. This means they are just prolonging the inevitable. If either of the payments are missed, their house is lost.

In typical American style, they laugh and they joke about all this. It is the way Americans relieve their stress. However, in the back of their minds they know the score. They know Banks Hurting Americans is not conspiracy theory. They know the bankers are now more powerful then a U.S. president. They know the congress can be bought and paid for like some midway carnival clown. They also know home foreclosure is still nipping at their heels.