I’ve been watching a number of videos on the Debtor’s Revolt on the You Tube and I came across this video.
Upper Middle Class
I pegged the guy as a republican, I’ll skip, for now, how I came to that conclusion, but what I hope this video and the words following will do is advocate something we need as Americans to think about very carefully, that we are all citizens of this nation and that we need each other to survive and prosper.
That said, the first question I have in response to this video is, did this man lower his rents to help his exiting tenants or did he do this in order to avoid empty apartments, avert bigger loss, stay afloat essentially, cover his ass?
Here’s the low down, the banks don’t care if this guy defaults on the loan because the tax payers, the rest of us, through Congress, will bail the banks out.
What this man has is potential toxic waste – the banks win if he defaults, they got their fees and will get more. Any money “lost,” our government, we the tax payers, will fund with our savings and pensions.
Does this man understand that? Does he care?
If Bank Of America (BOA) lowers his rate who’s rate will they increase to make up the loss? The vulnerable family trying to make ends meet? The elderly? The college student? Yours?
Other than some bad PR, BOA is not being hurt, they made a bundle on the last bailout, they are only hurting us and as long as Congress keeps looking the other way they will find what ever fall guy they need to mitigate the heat or change their name. Meanwhile, they continue to keep stealing our savings, create more jobs loss and lower our standard of living.
If this man’s property is resold BOA will get their fees again and they hope the new owner will also default, it is how they get more of our savings, by picking our pockets one at a time and now tossing us all into the bottomless abyss of debt-money from China and the Saudis; both countries with abysmal labor and human rights violations.
We’re all just about broke, we will never pay China or the Saudis back. This is a new Ponzi Scheme brought to you by Wall Street yet again, and it’s not only hurting us and our children, but also our reputation in the world.
The American people are just starting to figure this scam out, China and the Saudis will only buy up so much more of our debt without requiring political favors or the ability to make large investments in the US. We are being forced to sell our county, our land and our wealth to inimical foreign interests. We are losing our country, soon followed by the lose of our security and our rights.
The banks are making billions off these losses and they are buying up our local solvent institutions or forcing them out of business, this Democratic Congress has done nothing, but allow them to act with impunity. Madoff was small potatoes.
President Obama hasn’t done anything other than make idle threats. I suspect, that like President Bush, President Obama is surrounded by the same people from Goldman Sachs and Wall Street who are gambling with our future and masterminding a good part of this scam. (see: indentured-slavery)
Not only are the banks too big to fail, they are stealing the country’s wealth; your life savings and our children’s future. This massive debt is leading to pay cuts and job loss, it is lowers our standard of living and is dividing us by class and political angst.
This is a financial coup.
If our government wanted to help its people, they would start by breaking up these behemoth banks, give these foreclosed and investment properties to Americans without homes first or subsidizes fair and affordable housing based on income.
Remember what Ronald Reagan said about home ownership – “it supplies stability and rootedness.”
Do we want to sell our country’s borders to the highest bidder regardless of their corrupt track-record?
Unfortunately, the actions of Congress demonstrate they won’t do anything short of a revolt and why should they? They gave up on us long ago when former politicians were allowed to lobby and infiltrated out system of governance for quid pro quo pay backs. Public service is now a mere career step to bigger and better things and the American People are divided, they on their own without representation, traveling down the road of a dog eat dog society.
So I pose my question to this BOA customer, why should hard working people, those also in debt, losing their own homes, education, jobs, health care, working without a living wage help you?
So we can continue to preserve the status quo?
I would be weary of this man’s investment plight, should he not also be advocating affordable housing, living wage jobs, universal health care and free education for all his countrymen and women?
In these hard and very vulnerable times shouldn’t we also be helping our neighbors, secure our country and preserve the rights for all.
I hesitate and wonder… once relieved will this man go back to serving these corporate masters, the wealthy socialist elitists on Wall Street?
I may be pre-judging this American citizen, however, in this economy, in our current society is his outrage, his plea for help, is his only interest to cover his ass?
Is he hoping this video will call to arms the viewer, his fellow Americans to put pressure on BOA in order to be one of the lucky and then quickly renew his membership in the “As Long As It’s Not Me” club?
The Debtors Revolt Trickle Count Down To The Collapse
Lower Middle Class – 4 June 2009
The Middle Class – 8 September 2009
Upper Middle Class – 30 September 2009
Right now it would seem that if the vast majority of the American People wanted a change to our financial system, this crisis, the streets in DC and the State Houses would be full of outraged citizens with pitch forks and rope. Apparently, the brand of capitalism the people in the US want is a combination of sink or swim, as long as it’s not me and you’re on your own Pal. Until that attitude changes a lot of Americans are going to need a good strong pair of Chinese made boot straps.
What’s wrong with Americans?