Foreclosure Defense Florida

The Banks Got $1 Trillion….What Did America Get?

By September 13, 20113 Comments

Bank-Bailout-NewsA story from today’s New York Times really wrenches like a knife into my gut.   As someone who fights every single day to try and help Americans stay in their homes and get back in the games, I am confounded by just how inflexible and unreasonable all the banks are…..   Your income’s too high for a modification…Your income’s too low for a modification. We won’t accept this Short Sale. We won’t waive that deficiency.   All of that would be bad enough under any circumstances, but knowing just how much money me and my clients paid to bail out the very banks we’re fighting really offends my sense of right and wrong…..(and the failure of our courts to hold these banks accountable to the letter of the law will forever be a black mark on our entire legal system……)

Presidents George W. Bush and Obama spent more than $1 trillion in taxpayer money to bail out our largest banks and corporations. But they exacted no quid pro quo. JPMorgan Chase has recorded splendid profits and has no obligation to bail out hundreds of thousands of homeowners facing dispossession.

Instead, the battle to hold JPMorgan Chase “” and its brothers in government-supported finance “” accountable has fallen to state and city officials. Some in New York sound eager for a rumble (the attorney general, Eric T. Schneiderman, has taken a tough line, seeking piles of documents from banks, including JPMorgan Chase).

New York Times

3 Comments

  • Phil Johnston says:

    My question is if people are outraged by this article how much more would they be if they thought about why we bailed out the banks when it was the investers who lost money not the banks. the banks made money on every loan they sold to investers

  • DAVID SHAW says:

    the bankers should all be hung. As they will never go to the good hereafter as the lord has saiteth from many centuries ago.The people will rise up again and take it back for him or he will take it back as america has only started seeing our punishment for not believing in him.

  • ferryrider says:

    Not to make a wrong right, the bank deserved no bailout.
    The home owner should have done a JSA when she decided on
    buying a triple digit home in being sure she had a buffer
    zone secured so if the worst happened they could have lived
    off of the buffer, or sold the home to keep it out of
    foreclosure.
    As to ACORN being involved, it’s just the marxist coming
    out of the dark. Anytime they’ve been involved it’s just
    more fraud and working to keep people being victims instead
    of pulling up and getting back on their feet.

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