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I've read these comments . People blaming Obama for the housing foreclosure scandal. Big banks lobbied congress to remove consumer protection laws. Mortgages were sold many times over from bank to bank until no bank was responsible for making mortgagees pay their payments. Then I saw rising gasoline prices crush suburbanites budgets. But did Congress do anything ? No I saw the big 5 oils bosses testifying infront of the senate. The bastard that runs Exxon Mobile said in a smart mouth tone when asked about why the increase in 2008, "We aren't price makers we are price takers" The senators acted like school boys in the principals office, scared!
Congress struck down the depression era law that forbad insurance companies from being banks and banks from being insurance companies. Banks were not allowed to be consumer banks and commercial or investment banks at the same time. They were to risky and if they failed they would not be able to make consumer and mortgage loans and small business loans. That's exactly what happened when they failed. Businesses failed because they couldn't get cash flow loans. They laid people off. The puss and infection from the greedy money mouths of Goldman Sachs and other Wall Street Investment banks, AIG, infected the small business
community. Trading mortgages as securities to create another dark phony unregulated gambling hall. Where was Bush's FTC? Where was Congress. They were bought off by lobbyists. They looked the other way.
You have all been sold out and screwed by banks too big to fail. Remember Farm Aid and Willy Nelson???????????
You people ought to start reading newspapers and financial publication.
The middle class was a vast reservoir of money, Social Security, Medicare and Medicaid, school funding, Workmen's Compensation Funds, equity in their farms and homes and businesses. The repubs are working everyday to get the money out of these programs transferred to them in the form tax cuts ,business subsidies and the other back handed ways they have to get rich.
Wake up you jokers. Unless your worth several million in cash and don't need these programs, you better go find Elizabeth Warren and kiss her **** at noon on Main St. there are very few in Congress that care about you now. Keep voting for the party that screws you. Good luck conservative suckers, you lost almost everything, but you still have your pride.
If upstate NY is sitting on "huge resources of oil and natural gas" Better buy cheap housing now. Oil companies Will be allowed to drill, only matter of time and amount of local campaign contribution(bribes). There will be a housing rental boom, oil field workers bring a high rental demand. Try to find properties that still have the mineral rights. Money to be made.
as gas gets more expensive I see more and more people moving closer or to city. Gentrification will happen more and more. In Europe living in the cities are very expensive, suburbs is were the riffraff live.
We would have stayed in our home, but the US Bank and the State of Wisconsin Department of Veterans' Affairs decided dealing with a Veteran's lowered income was too much for them.
The rest was simply bad timing...aided and abetted by US Bank, of course.
Oh well. I guess this seventy-seven year old POS house deemed suitable for the First Time Buyer will just have to go another seventy-seven years without wall insulation...something we'd have liked to do...except it being a house without wall insulation and seventy-seven year old windows was a horrible draw on the bank account, money-wise. Of course, everyone would rather think of the foolish ex-homeowner as the dead beat and not the banks or mortgage backers that made some of us so.
I'm calling B.S. on this one !! Detroit's not included ?.....C'mon