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  1. #1
    Senior Member carolinamtnwoman's Avatar
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    Wall Street Ends Hope for Homeowners Via Congress

    Wall Street Ends Hope for Homeowners Via Congress


    by Shamus Cooke
    Global Research, June 7, 2009


    As if the bank bailouts weren’t proof enough that Wall Street owned Congress. History will likely show that these bailouts involved the largest transfer of wealth ever — from the working class to that small group of billionaires who own the corporations.


    This fact is recognized by most people now and is such common knowledge that even the mainstream media feels comfortable discussing it…matter-of-factly.


    These corporations have also exerted tremendous influence in other realms of politics, working towards destroying Obama’s campgain promises of health care, job creation, civil liberties, the Employee Free Choice Act, peace, etc.


    In each case, the promised reform was gutted of its essence, and “compromiseâ€

  2. #2
    Senior Member carolinamtnwoman's Avatar
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    Ailing, Banks Still Field Strong Lobby at Capitol


    By STEPHEN LABATON
    Published: June 4, 2009


    WASHINGTON — As he often does, President Obama took the opportunity in a bill-signing ceremony last month to remind Congress “to do what we were actually sent here to do — and that is to stand up to the special interests, and stand up for the American people.â€

  3. #3
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    A home purchase and mortgage are both legal contracts which at this time cannot be broken without legal action. Too many home purchasers had no idea what they were signing (especially the liar loans given to the poorest and the non-English speakers). Banks took the dismissal of stricter regulation to heart and went totally nuts. They did this to themselves.
    Even if a bank would be willing to renegotiate a mortgage, undoubtedly that bank has bundled it with hundreds of other mortgages to sell to investors by the slice. Any mortgage can be owned by any investment group, while putting that single mortgage back together again is a Humpty-Dumpty story.
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