The question arises then, where is the Subprime Mortgage Market Victims' Compensation Fund? As an entrepreneur in a financial services or real-estate business, you may have lost your entire source of income due to the inappropriate and borderline criminal actions of specific companies and never recover a dime. This economic disaster and continuing credit crisis has changed the lives of many of those dependent on the financial industry for years to come. Yet who has paid the price for the failure of the subprime mortgage markets and its economic fallout?
So far no one responsible has paid any compensation to those who were victimized by their negligence and misconduct. The rating agencies, securities firms and commercial banks continue to book record profits while millions of small businesses close their doors.
Based on the response to victims of the Gulf disaster, it seems high time such a fund is created to compensate small business people who received no compensation, no unemployment insurance, no restitution of any kind after suffering huge income losses at the hands of the big bailout banks.
Let the trials begin.
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