Wall Street Gone Wild! Strategic Defaults? There was a fraud perpetrated on the American people by no less than Wall Street and the Federal Government. And, if you don't believe it, I have a bridge I'd like to sell you that goes from Brooklyn to Manhattan. Or, you have your head buried where the sun don't shine. Most of my clients were put in positions due to no fault of their own and homes values went up so much so fast they were afraid if they didn't buy at the "artificially" inflated prices they would not be able to buy at all. While they can make the payments why should they be the one's "caught holding the bag" when Freddie, Fannie, et al and all their CEO's, and Wall Street execs got and continues to get millions and million of dollars in bonus'? What am I missing? These traitors made millions if not a few billion in salaries and bonus' off the back of the financially destroyed American home owner, and just as catastrophic, a collapsed American economy. Let's point our fingers at the right people. The bubble burst and prices dropped 40 -60% ($10 trillion for the 130 million homes) which is so much the home owner will never be right-side-up. If anyone does the research, like I did, they would realize bad things happened and are happening to good decent people. Even today Wall Street and the government has their feet on the throat of any chance of recovery. Short sales, with few exceptions, are still insane, absurd and abusive to those of us mitigating the losses they are responsible for causing. Short Sales are slow, cumbersome without standardization. HAMP and HAFA are colossal failures. With five major servicers, three major investors, 500 other investors and four MI companies all bringing their own chaos to the short sale table. This was all caused by extreme greed and what I term economic treason, maybe economic terrorism is a better term perpetrated by the Wall Street and the Federal Government with the repeal of the Glass Steagall Act of 1933 that regulated banks and the enactment of the Gramm Leach Bililey Act in 1999 that deregulated banks by Wild Bill Clinton at the assurance of another traitor Rep. Barney Frank. Where was congress when all this was happening? They could have prevented it, but sold America out for a vote! Bottom line is there was no bottom line, lenders were forced to make loans knowing full well they would never be paid back, of course, the lender profits were astronomical, and "Isn't that special" . After all everyone should have the "right" to own a home whether they could pay for it or not. You really want to know what happened, want an fast education? Take a few moments and read my "Foreclosure Wars White Paper" I will send it to you if you email me at GoldfarbTeam@aol.com and can also VISIT MY BLOG AT: www.PoliticallyScrewedUp.com There are several great articles on this subject and you can pick 'n chose from the headlines, such as: "Their Fingerprints Are All Over the Corpse", "The Great American Ponzi Scheme", "They Want Us To Fail", "The First Domino Must Fall"...and decide what is relevant to you.
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