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The crony community of massive banks, economic establishments, authorities, politicians, the courts, and their corporately owned media have used propaganda, lies, and spin doctors to persuade Americans that naïve and greedy house owners crashed the global credit score markets in 2008. They blamed the crash and current economic chaos on homeowners who offered too much residence. Yes, a few mortgages made some humans consider buying the greater home then they could have enough money. However, the blame right here is frequently deceptive.
Why? Obscene broker commissions have been a massive part of originating mortgages. Banks had been on a tear to package deals, securitize, sell and re-sell mortgages. It results in irregular loan practices.
The larger truth has been revealed that there aren’t any mortgages to back the mortgage-subsidized securities. Thus former treasury secretary Hank Paulson instructed taxpayers, “We need to bail the banks out; in any other case, the entirety will fall apart.”
Iceland Let Their Banks Collapse
In fact, Iceland arrested financial offenders and installed real safeguards to restore the capital markets and customer self-belief. We in America got the toothless Dodd-Frank bill that makes it seem legislators mind the shop. Banking and the economic industry wanted principal reforms. Instead, after the Wall Street economic crash, our American banks clearly got 38% BIGGER!
Too Big to Fail and Too Big to Jail
Today banks are larger than earlier than the financial crash, and the Dodd-Frank bill does nothing widespread to keep Wall Street from trashing the economic system again. Insanity is doing the same aspect you’ve been doing but looking forward to an exceptional result. Fast ahead, and these days, those quasi-patriotic cronies retain the lies and prop up the fraud at the taxpayer’s dime. They brazenly hold to cowl up their partners’ crimes simultaneously as nonetheless receiving a large switch of wealth from taxpayers without impunity.
What few Americans recognize are those crony capitalists who fleeced institutional buyers out of $17+ Trillion clouded the name on all the mortgages they originated and supposedly sold on the secondary marketplace. They stole our pension money, wiped out financial savings, and now they may be, nonetheless, after your private home. In fact, more than four.9 million homeowners had been foreclosed because of the Wall Street crash, and there is greater on the way.
American’s want help staying with their domestic. If the banks and services might not deliver, where do owners turn for guidance through this economic maze of fraud and corruption? Many are programmed to assume, “Lawyer, that is what I need to stand up for me, to sort out the fraud, to keep my family from being kicked into the streets.” Are Lawyers Best Suited to Standup For Homeowners?
