There was much to celebrate this week, as we marked the remarkable achievements of Obama's first 100 days. A high point: Michelle Obama sending a resounding message about making service a regular part of our lives by volunteering at a food bank, even though we are months away from Thanksgiving. On the other hand, there was the depressing, banking-industry-led Senate defeat of a measure offering relief to America's struggling homeowners. Coming up: Thursday's announcement of the results of the bank stress tests. Early indications are that at least some of the banks are going to need another infusion of capital. With apologies to Justice Scalia, "Fleeting expletive" no! It's time for Americans to draw the line in the sand and say that if bankers are not going to side with us when we need help, we're not going to side with them when they do.
This would be a way to offset the $Billion that Congress Gets from Lobbyists and corporations!
National Journal does an annual analysis , but after the Fact is worthless!
We need it on at least a weekly basis and preferably a daily basis so people can place Massive pressure on Congress to offset the $5 Billion Wall Street gives Congress and others give Millions and Billions!
Also we should do the following:
PROTECT OUR Congress Members Votes:
Funnel all Political Contributions through a Government Contribution Cleansing and Funds Distribution Agency that uses strict formulas for allocating funds blindly to Politicians so their votes are NOT purchased! Fairness for New potential Members (No incumbent advantages for voting record)!
$459,312,006 reasons that your U.S. senators voted to deny you protections against foreclosure, that would have allowed at-risk American families the ability to RENEGOTIATE their mortgages at rates they could afford to pay:
Lobbying Expenses by the Financial Sector (1997-2008)
2008 $459,312,006
2007 $419,754,990
2006 $375,133,174
2005 $371,666,173
2004 $338,123,874
2003 $324,385,802
2002 $267,586,799
2001 $235,049,868
2000 $230,368,026
1999 $213,801,725
1998 $209,659,907
1997 $177,374,000
Source: Huff-Post, "Do They Own the Place? You Betcha!"
How?
The recent senate vote, "Helping American Families Save Their Homes Act 2009 (S.896)", is an egregious abuse of protections under law that our U.S. senators were more than happy to provide for yacht owners, and individuals owning second, and third homes.
Our senate has unjustly proclaimed the middle class as unworthy of foreclosure protections through a vote recently cast by the GOP with support of the infamous TWELVE U.S. (D) Senators whose betrayal response to struggling families threatened with losing their home is: NO HOME FOR YOU . Unable to find his voice in support of suffering families was (D) Sen. Rockefeller, who abstained from voting.
Their NO to Americans threatened with foreclosure is a kick in the stomach to down and out families across America threatened with losing their home, leaving them with no means to renegotiate their mortgages with payments determined by a bankruptcy judge, a re-financing protection that these same senators were more than happy to provide to YACHT OWNERS, and individuals with TWO, THREE or more homes.
Our Senate has declared that middle class America is unworthy of the same foreclosure and refinancing protections that they hypocritically defended and provided for the wealthy.
In essence, the senate is saying that laws of protection from foreclosure are ONLY FOR THE RICH, NOT FOR STRUGGLING MIDDLE CLASS AMERICA.
Banks and credit card companies have to become consumer friendly or recovery is futile.
Large protests across the nation at big banks with the largest at the Capitol are in order as well. Time to take to the streets.
Agreed.
However, we Americans need to start calling, writing and in some cases emailing our representatives to tell them how we feel. They are suppose to represent us, the constituents.
If we can take the time to comment on blogs and news articles, we can certainly take the time to send a quick opinion to our political representatives.
I've found that a lot of people actually do not know how (and in some cases don't know "who") to contact. I wonder if we could get more news organizations as well as blog sites to create a section with representative's names and contact information.
We did that at the paper I worked at and we were amazed at how appreciated it was by our readers.
Get the hope up and OUT.
WRITE YOUR REPRESENTATIVES AND TELL THEM: It is time that REPRESENTATION OF THE PEOPLE, BY THE PEOPLE AND FOR THE PEOPLE - RETURNS TO WASHINGTON.
Tell them to END homelessness, by BEGINNING TO PROTECT THE MIDDLE CLASS - WHO ONLY HAVE ONE HOME, and EVERYTHING TO LOSE!
THE BANKS GET BILLIONS AND BILLION AND BILLIONS OF TAXPAPER MONEY TO BAIL THEM OUT...BUT WHEN THE UNEMPLOYED PEOPLE NEED A BAIL-OUT FROM THE BANKS TO KEEP THEIR HOMES, THE BANKS REFUSE...THAT'S TOTAL B.S....NO MORE TAXPAPER BAIL-OUTS FOR BANKS...UNTIL THEY AGREE TO HELP BAIL-OUT TAXPAPERS.
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Lenders handed out loans with monthly payments that the homeowner COULD afford that after three years doubled the rate. They saw their mortgages go from $1500 per month to $3000 per month. Lenders knew what they were doing and so did a lot of our representatives who lay in bed with lobbiests. Which is why we have often heard the term "unsuspecting homeowners" used throughout this crises.
Blame the credit card companies for the big screens purchased? No. Blame them for sneaking up the rates without telling their customers, adding hidden fees long after the contract agreement was signed thus breaking their own contracts with their unsuspecting customers? = Yes.
"They wanted everybody to be able to buy a home."
So...they intentionally created DISTORTIONS OF REALITY they promoted as measures to use in their "Let's get everyone into a home" scheme, to insure that homes would be bought, for which THEY (the BANKS and INVESTORS) failed in carrying out their fiduciary duties, which ultimately resulted in banks and certain investors PROFITING, while they demanded THEMSELVES AS BEING THE VICTIMS AND INSISTING THEY BE THE PRIVILEGED BAIL OUT RECIPIENTS, while REALITY ON MAIN STREET SAYS:
- foreclosures have increased by 81% in 2008 ( Huff Post)
- foreclosure victims are estimated to reach 8.1 MILLION by 2012 (Huff Post)
- voluntary mortgage renegotiations (affording banks the options, not the struggling home owner) has FAILED. ( Huff Post).
- 800,000 FAMILIES would BENEFIT from privileges to the SAME PROTECTIONS FROM FORECLOSURE UNDER THE LAW that allows yacht owners, farms, individuals with MULTIPLE HOMES to renegotiate their mortgages - that single home owners at risk of losing their homes were DENIED by OUR US SENATE. ( Read Huff Post. You may learn something.)
Even Shiela Bair can't help you if this happens again. Citi group, B of A are just to big to take over - and they have to be downsized, the FDIC has done little in monitoring this problem, we need a joint effort by the world countries to stop the sale of phony derivatives and bad paper.
Sometimes I wonder what can 100 daze mean to a McEmpire except more daze?
http://blogdredd.blogspot.com/2009/05/phases-of-empire-freezing-to-death.html