Emboldened by billions in bailout monies, and funds from the Treasury and Federal Reserve, the Banksters are in full loot mode. New York Attorney General Andrew Cuomo reports that extravagant bonuses at some banks now outstrip revenues. The financial elite takes our money--and tells us to shove it. 500 people got a million bucks apiece from the bailout money in just 9 banks.
As a new wave of foreclosures threatens, the banks are not willing to modify most mortgages -- even those sold fraudulently -- because they make more money forcing families out and reselling their homes.
The pace of regulatory reform, meanwhile is a slow-go, with few calls for more radical measures like a moratorium on foreclosures of the kind declared by FDR during the last Depression.
Are you aware that outside of the government, a not for profit called NACA (The Neighborhood Assistance Corporation of America) is touring the country mobilizing homeowners to demand financial relief. I was at their original "Save The Dream" event in Washington last summer where members of Congress and officials like FDIC chairman Sheila Bair pledged support, but little happened.
Government help has only reached 200,000 of the more than 12 million families in need. If you are not familiar with this issue or the role of devious mortgage servicers like Litton, owned by Goldman Sachs, see these You Tube videos on the PACFILM Channel:
http://www.youtube.com/watch?v=HVyahxDc5OU
http://www.youtube.com/watch?v=mov0AVLsvQg
According to FEED News, NACA is doing better, even though they are not getting the national publicity they deserve, perhaps because media outlets don't want to send the few staffers they have to the heartland.
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