The assets of millions of Americans were devoured by the large banking system. Greed at its finest preyed on people's dreams of owning a home. New types of loans were created weekly to ensure no victim would escape these predators.
Every gambit was used to lure the unsuspecting victims. A few made millions in profits, while millions will be losing everything. Even the many on the sidelines, that played by the rules, have seen the value of their homes drop in value, in order that the few could enjoy tidy bonuses.
As if that wasn't bad enough, the vultures are circling over head and picking the bones clean of these victims. Hopes were raised, that homes would be saved; only to be dashed, as what little money these people had was sucked up by these vultures, and the homes pulled out from under them. The vultures on the other hand are a protected species.
Where are all these agencies that are supposed to protect these unsuspecting souls? If we can throw yachts to save the drowning bankers, can't we at least throw inflatable vests to save the rest?
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3 comments:
"Throwing yachts to the drowning bankers." I like that. What a perfect analogy. The government is always so fast to bail out the corporations.
I fear, as the elite bastards let 9/11 happen, they may let the non-elites drown in the burst credit bubble, because, hey--starving families are great when there's only one job in town: Sign up for a free tour of Iraq!
That's why so many sign up. Only job in town, and they are always hireing.
WOW - no blame to the borrower? I have absolutely no pity on a borrower that doesn't read the papers they sign. Banks are not to blame, the borrower is.
New types of loans were created weekly to ensure no victim would escape these predators. -- No one forced anyone to sign anything.
Where are all these agencies that are supposed to protect these unsuspecting souls? - HUH? Where are the brains of the people signing up for loans with idiotic terms?
Most of these borrowers acted in greed, thinking they were getting loans that were unbelievable deals, and acting out of their own greed they made their choice to sign up instead of going with the traditional (and safer) loan.
Let the buyer beware, and responsible for their actions. No one else is to blame.
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