Obama Grinch – What the Republicans Grasp that the Democrats Ignore

What the Republicans grasp that the Democrats ignore is that the vast majority of the 99% want the bank cartel to collapse. Albeit the average American is not prepared to endure the final financial force majeure – they just know they want an end to the corruption.

So, the Republicans, who will eat their own, high-five (with a wink) when the banks slip in the stock market and the Tea Party vows to audit the Federal Reserve (if not outright eliminate it)…which they know the majority of Americans want. All of this is transpiring as the economy rolls on to a horrific collapse while Obama surrounds himself with his Goldman Sachs advisors, makes no major Wall Street arrests and allows the Fed to continue to prop up failing Wall Street banks (cartel) with taxpayer dollars.

All this, and the Democrats are surprised that Obama is dropping in the polls and can’t figure out why. Oh, wake up!

Obama could make an executive order and stop the banks and Republicans cold by calling a moratorium on foreclosures and evictions effective immediately.

140 million+ Americans are directly affected by these foreclosures. Obama is beginning to look like a cross between Mr. Potter and the Grinch. The Republicans know this and are strategically using it.

The public knows the only way out from under this debt is to collapse or takeover the banks – but propping them up with taxpayer funds and allowing them to continue to operate without more regulation and oversight is what has lead us to this path of total disaster. In short, Obama has options – he just hasn’t chosen to use them.

Obama needs to call a moratorium on foreclosures and evictions and investigate these transactions because they do not appear to be mortgages. Research shows these loans were securities BEFORE the borrowers signed.

Certainly, the intent between the borrowers and the lenders was not the same. The lender (in most cases) had already sold the loan to some funding warehouse or securitized pool Depositor or collaterized and/or pledged the loan to a third party before the borrower was even presented with paperwork. These so-called mortgages appear to have been securities with no disclosure to the borrower.

You’d think by now the Dems would be catching on, but today the Obama camp sent out the Tell Us What You Think Refinancing Plan… for those [offensive remark] – “responsible” homeowners only. He still doesn’t get it.

Refinancing is not the answer because it’s obvious that the banks wrote more loans than they can legally hold. “Mortgage” loans need to be restructured into new contracts and if these securities are going to continue the borrowers should receive full disclosure and be allowed to participate. If the public realized just how much money the cartel has been making off of these loans securities – even after they have defaulted and because of the unregulated securitization scheme – there would be an immediate revolution.

Obama has the power to call a moratorium and if the Republicans bulk they’ll look like a bunch of Mr. Potters. In an election where money buys the vote – only absurd PR can top it. Go for the gusto and make the argument on behalf of America the main topic… Step out of the box.

So, let’s get to the bottom-line.  Why isn’t there a better plan or a moratorium? 

It’s the Eeyore rhetoric that Dems are buying into. It’s the new party line and it’s not working. “Woe is me” – held hostage by Republicans…
Well, in the real world when a competitor has more money to advertise for customers the best way to fight it is to create press. And since the press is tightly controlled by the cartel – the PR has to border on the absurd… Shocking.

Like finally, a Presidential moratorium on foreclosures and evictions… Supported by all Democrats in every state – announced on the same day to take effect immediately and not lift until further notice – well after next Christmas. That message will have to be aired and debated for months while the President finally stands up for what is right and helps ALL Americans – not just those with a cushy paycheck.

You want to know why that is so hard? Look at the state recorders’ office records and you’ll likely find your state legislators have refinanced or paid off their mortgages since 2008.  Yeah, when average individuals were thrown into HAMP and told to default in order to get help, then denied modifications and foreclosed on – these legislating state employees and their staffers – not union leaders, police, firemen or teachers we’re talking LEGISLATORS here – they are getting preferential treatment. Then look at the financial disclosures for your judges and legislators and see how much money they have invested in the banks and mutual funds that hold tons of bank shares. It is more than an appearance of impropriety.

It’s not that their hands are tied – they are compromised.

5 thoughts on “Obama Grinch – What the Republicans Grasp that the Democrats Ignore

  1. “responsible” homeowners “, that term is so offensive.

    Who exactly is a “responsible home owner”?
    And who is an irresponsible homeowner?

    Since the refinancing is for people who have not been ” late” on their mortgage,
    we must assume that is a responsible home owner.

    And if someone responded to the government ads and applied for a HAMP modification,
    were put on a trial and than fraudulently denied , making their credit “appear” as if they were late or in default, they are now the irresponsible home owner.

    The White House needs to take notice that this is HUGE slap in the face to the people they claim they are trying to help.

    • Marcy is correct. In my case BoA falsely reported to credit bureaus upon my requesting help via HAMP program. I filed a case with OCC showing cancelled checks for months in question, but it still took almost a year to get them to remove. In the meantime without my having taken on another dime of debt my FICO score dropped almost 100 points (780’s-680’s) due to credit card companies lowering my line of credit and BoA’s false reporting. This was a year before I missed a payment and I only did so because of BoA continually stating I needed to be 60 in arrears before they could help. This was an “a” loan that I paid 20% dwn and 20k in upgrades at closing to secure a fixed rate loan. I paid $200-$300 more towards principle every month when I was able to work. Now because Of BoA’s actions (or lack of) I’m to be considered an “irresponsible” homeowner. My mortgage payments are going into escrow/savings account and I’m still paying my HOA fees (yes plural, I have 2) all the while my income is 45% of what it was 3 years ago (work comp disability from workplace accident). For over 2 years now I have been requesting a HAMP mod (not once have I asked for principle reduction) from BoA and Fannie, mailing and faxing enough paperwork to fill a small library. I stood over my fax machine the day after coming home from hospital having total shoulder replacement faxing 28 pages I’d sent previous week only to have them request again within days. I should have been in bed with arm elevated as it swelled up like a Christmas Ham. “Irresponsible” “Deadbeat” I don’t think so. Gullible and stupid maybe. Now facing phone calls at 6 a.m. BoA establishing entirely new physical address for me and people now trying to establish new credit in my name…yeah I’ll say stupid.

      • Roy, you are not stupid or gullible !

        I see individuals that scam home owners being gone after and punished, and much time and advertising used to warn us home owners to be ware.

        But I am not concerned about those types of scammers, to me the worst possible scammers are the servicers! You don’t see any advertising warning people about them.

        Does the government consider anyone who applied or inquired about the HAMP program as “irresponsible home owners”? Because that’s sure how it looks to me, even if you got a trail and actually did the trial in 3 months and got a HAMP loan, you STILL were reported on your credit which still gives you a more negative rating.

        WHY should that be? I think the entire Excuse for having a “trail period ” is bogus!

        It is supposed to be to “see if you can make your payments ( and on time )”.

        Wait, so I have been making my payments for 7 years with no problem, now they are going to put me on a trial to see if I can make 3 payments on time??

        Not only that, they need to add the portion not paid ( because I am not allowed to do so ) to be added to my principal and be report on my credit?

        What is that all about, really?

  2. Every time I hear Obama say “responsible homeowners” I cringe! I applied for HAMP because my president said….here is help for middle class America…I care about you. If you are struggling to make your mortgage payment, apply today. Then, like millions of Americans, I trusted him. I bought the hope he was selling. Like the responsible person I am, I followed all the rules and instructions given me. Little did I know that my president had just enticed me into trusting the banking cartel, who then lured me into an artificial default to qualify for the HAMP. Like me, millions of Americans trusted Obama to have our backs with this HAMP. Once we elected him, he had all of our attention. We were suckers! He peddled us the HAMP so the banking cartel could swoop in and devour our biggest and most cherished asset, our homes. Shame on you Obama! Do you consider yourself responsible? You ARE responsible….responsible for luring millions to their demise! Now, “responsible” means a whole lot more than it used to mean, and I have only just begun the battle.

  3. WELL LOOKS LIKE THERE IS GOING TO BE ANOTHER BANK BAIL OUT — LOCK YOUR DOORS AND DON’T YOU LEAVE THAT HOUSE, YOU’VE EARNED IT! THAT ROOF OVER YOUR HEAD IS YOUR CHILD’S FUTURE AND THERE IS NO MORE NEGOTIATING WITH OUR CHILDREN’S FUTURE, DON’T WASTE YOUR TIME, OR YOUR MONEY, SAVE IT FOR YOUR CHILDREN, THEIR WEDDINGS, & THEIR EDUCATION & YOUR RETIREMENT!!, AND SMILE, WE ARE IN THIS TOGETHER AND A LOT FURTHER THAN YOU THINK. G-D BE WITH YOU.

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