While President Obama and the rest of our dubiously elected “representatives” in Congress shift into all-campaign, all-the-time mode, it’s getting bad out there for the average American.
“Despite the robo-signing debacle slowing down foreclosures as the processing and servicing is rapidly changing, foreclosures remain high and homes in default or scheduled for auction rose 6.5 percent in the second quarter from the first, according to RealtyTrac. In July 2011, one in every 611 homes received a foreclosure filing… ” ~agbeat
Do more than a handful of honorable legislators seem to care? No. But there are government programs that are supposed to help people keep their homes, aren’t there? Ha! What are you, stupid or something? Haven’t you been paying attention?
“With housing prices dropping sharply, and foreclosure filings against more than 1 million properties in the first half of this year, the Obama administration is scrambling for ways to help homeowners.
“One place they won’t be looking:… an estimated $30 billion from the bailout that was slated to help homeowners but is likely to remain unspent.
“Instead, Congress has mandated that the leftover money be used to pay down the debt.” ~ProPublica
Thank you Congress. That’s just what I would have told you I wanted done, if you had asked. Not. And there I was feeling a teeny bit guilty for wishing the hurricane flooding would just wash away Wall Street.
(Cool photo of Wall Street bull on empty street before the hurricane.)
But, hey, there’s an election coming up and the economy is in the toilet. Surely somebody will come up with the bright idea that it would be a great vote-getter to solve the foreclosure crisis and jump-start a little prosperity.
“Congress has the power to “re-route” these funds so that they fulfill their original purpose of helping homeowners through loan modification programs and other plans. But it’s unthinkable that Republicans will take such action, even to help struggling families stay in their homes.
“GOP lawmakers have consistently prioritized reducing the deficit over the more pressing concerns of chronically high unemployment and foreclosure. Their willingness to let billions that could be used to aid homeowners go to paying down the debt instead is perhaps the clearest illustration to date of their skewed priorities.” ~ThinkProgress
Quick, ask New York Attorney General Eric Schneiderman if there’s any statutory limit to how many times the President and Congress can sell us out to the banksters. He at least seems to give a flip about helping homeowners and getting the economy back on track.
“Government officials are seeking an agreement that provides funding for writedowns on mortgage loans for borrowers and sets standards for how the banks service loans, interact with borrowers and conduct foreclosures, according to terms proposed in March.
“Several attorneys general, including Schneiderman, criticized any settlement that would protect banks from state investigations by providing the lenders with broad releases from liability. Those probes include the bundling of mortgage loans into securities.” ~Bloomberg
“So why is the Obama Administration NOT on Schneiderman’s side?” ~The Big Picture
Ooh, ooh! I know this one!! Because the Obama administration and Congress are not on the side of average American people.
Organizing to Fight the Plutocracy
Quite simply, corporations have stolen the political process and the rights of citizens, in much the same way they robbed people of their economic rights in times past.