WANT A GOOD LAUGH?...Dozens OF Financial Institutions Are Being Sued By The Federal Government!!!
Why can't republicans and democrats alike see what us independents have known for years. The two parties keep this country divided not so as to better the country or even their own belief systems. It only to change power every eight years so that Congress can get their big fat checks, free health care for them and their families. They don't care about you guys and you just keep following them like sheep over a cliff. Look around you and name something that has directly helped the country or your community and post it here please. We have a heathcare program that no one wants, they didn't even read it nor have they since, the president is exempting groups according to how many votes they can produce in the next election. The house can't agree with each other let alone to the other side. We spend almost as much money every four years on elections as we do the national debt. Between the two parties they spent 4 trillion dollars in local, state and national races.
Lets have a serious debate in this country, vote for no incumbates period, if the working class did this the incumbates would still win but the win would be so narrow in most races to trigger run offs and they would see by the next cycle that we are seriously looking at them.
WANT A GOOD LAUGH?...Dozens of Financial Institutions Are Being Sued By The Federal Government!!!
The Federal Housing Finance Agency is seeking unspecified compensation, claiming that these institutions knowingly peddled shoddy deals without informing the investors of the questionable paper....
AND:
"Securities and Exchange Commission officials are trying to make it easier on themselves to hold more individuals responsible for wrongdoing during the financial crisis.
In a major shift from the agency's traditional enforcement strategy, the SEC could file more civil cases in which defendants are accused of negligence only, rather than harder-to-prove charges of intentional wrongdoing or recklessness, according to SEC officials.
In the past, the SEC sometimes persuaded individuals to agree to narrow negligence charges in order to settle the case, rather than fight the agency in court over more-serious allegations, according to defense lawyers."
This action comes after how many years of suffering and loss of income, jobs, homes and retirement savings of the average American???.....
This is outlandish, in that the fraud is now going on in the actions of the FHFA and the rest of those in government who came up with this lawsuit which does nothing to identify exactly who was responsible! ...nor does it intend to take any action of significance to make the people, who lost so much, whole in any way!
So, pardon me while I chuckle a little bit, no laugh at the folly of it all!
Just what does the Federal Government intend to do, really? NOTHING!
Right now there are Billions of dollars being literally thrown at "Green" companies that can't find their way in the dark-- or the light....failing companies that don't merit the money to try to survive, especially when the government knows they won't last!!
So, the money goes into a black hole---all the while the poor homeowner still suffers from the damage done to the housing market from the fraud perpetrated by huge financial institutions!!!---And the money that was set aside for the homeowner who was put at risk from all the bad loans that were given to people who
could not afford a home???
Why, that money is still there--not having been spent, because no one knows how to use it to help out the suffering homeowners!!! No, the homeowners who were given the bad loans are long gone---those houses were the first to be foreclosed upon and the individuals who were given those bad loans have moved on--into complete and utter poverty, homeless-ness or even worse!!!
We are now on the 2nd and 3rd wave of defaults in the aftershock of this fraud--Now qualified homeowners, who were ok in the beginning, are starting to feel the effects of the massive mortgage fraud. They have lost all equity and in most cases are now
underwater---no chance to sell their home if they need to; and no money if they do manage to sell it!That money won't be used either, in my opinion--it will probably just go back into the coffers of the banks even though it makes the bank bailout look even worse in the eyes of those who lost the most......
What do you think about this travesty??? I would love to hear what you think about the charade that is going on right now within our government.
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**ALL INFORMATION AND CONTENT IN THIS BLOG IS ORIGINAL TO PAULA I. HATHAWAY
Paula I. Hathaway, Senior Vice President, Prudential Douglas Elliman
Southamtpon Village Real Estate Specialist since 1995; Also Specializes in North Sea, Noyac, Water Mill and Bridgehampton, New York
Diamond , Gold and Chairman's Circle Awards; Top Producer since 2005
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