“I don’t blame [the administration] for causing the housing crisis,” “But at two-and-a-half years in office, if they can’t figure out something to do soon that turns us around, I guarantee you they will pay for this at the ballot box.”
(That statement comes from a democrat.)
“For the life of me, I can’t figure out why a community organizer who says he cares about families, who says he cares about communities, has just turned his back on one of the biggest problems in America,” “The way they get defensive when you point out it’s been a failure just underscores to me they don’t have a clue about what to do.”
(That statement too, comes not just from a democrat…but Dennis Cardoza, who co-chairs the Democratic Caucus Housing Stabilization Task Force.)
We fight this battle like it’s a community fight or a state fight. It’s critically important that we all recognize that foreclosure is just one of the symptoms of the cancer that is the rotting core of our country. Our economy is trashed, both on the personal level, and on the much larger and systemic national level. If you’ve got a job, good for you because more and more of your neighbors do not and even if you do have a job, your income is down….and your hopes for the future are dim. But don’t listen to me, listen to what the democrats say…
I agree the administration has not taken a clear leadership roll in solving the problem that the little people who borrowed money are taking the hit for the housing bubble and silly loans – while the banks take no hit for their role in creating and selling the products that caused crises.
That the banks are allowed to blatantly forge documents to cover up their liabilities and walk away laughing with record profits is revolting.
Yet, as it is easy to blame Obama for the failing, where is the Congressional over-site, the Congregational banking committee, the Congregational hearings into document forgery?
From the Republicans we see nothing but resistance to any form of consumer protection. They oppose, to a man, Elizabeth Warren’s appointment and the only thing she has done is express an opinion that IF she was appointed she would investigate the banks and mortgages.
The Republicans in Florida and elsewhere are attempting to pass bank fraud friendly legislation, negating past fraud, negating the defenses of capacity, negating the need to show a chain of title to a note. They even proposed changing the state from a judicial forclosure to the bums rush system of non-judicial forclosure, to speed up the process of making people homless so as to save the banks money.
The question is not, “What has Obama Done” because he is trying, see Elizabeth Warren, but how do we get more democrats elected so we start having some meaningful Congregational inquiry and not just a day when the bank presidents appear to testify about how they are victems of evil perceptions. See also, “Republicans argue for delay in implementation of the Dodd-Frank protections.”
Congress controls the banking and monetary system. That’s where we need to make the changes if we want a change in the system.
Right now you have Republicans Michele Bachmann, who has been on the financial services committee since 2007, who have no clue.
To the man, the Republicans are continuing to resist any change, so we have to replace them with Democrats tho think more like Barney Frank or Al Franken.