Bank Robs Man
The banks and mortgage companies lent money to buy a house to people that really could not afford it, no down payment, limited income and bad credit. They then put these mortgages in vast bundles and sold them on the market. The foreclosures, down the road, poured in. So the banks lose money right? Wrong.
These bundles cost the banks billions of dollars in loses but according to the U.S Government they are too big to fail. They covered their loses. We covered their losses.The banks did not lose a dime. The housing market tanks and these foreclosed homes lose value and so the bank buys them back with the money they were given by us. You with me.
So they have all these houses they bought cheaply. it is hard to buy a house now since the mortgage crisis so the bank, which caused all of this, now rents these houses that they bought cheaply to the same people they robbed in the first place. Since many people now have to rent because of the mortgage crisis and down economy the bank can charge high rents and make many more million.
No arrest yet but I am sure they will not get away with it. Wait that was a few years ago and they did get away with it. You would think Bank Robs Man would be a headline.
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I feel the same way about processed food manufacturers, pharmaceutical companies, most physicians, lawyers, insurance companies, and on and on. . . If we ban together we can alleviate many of the worlds ills.
That's the problem we the people let them get away with it. They put obstacles in the way to protect their interest.
I noticed in your profile (after I made this comment) that you are also into insurance. I do not wish to step on any toes or offend anyone.
My problem is the forced health insurance (that I have no intention of ever using) from the new laws. Last time I went to see a doctor was in the early 90's (not counting DOT physical's for when I was a truck driver.)
Since I took early retirement as soon as I turned 62, I only qualified for a little over $700 a month. When I turned 65, I had to pay out over $100 of that for insurance I would rather die than use. I do not wish to see a doctor so he can try to talk me into accepting the poison they have to offer. It is easier to stay silent and hope they will leave me alone than it is to let them know how I feel about it and have to argue or debate over the situation. What it amounts to is, this is my body and I'll treat it the way I see fit!
Insurance is a business to make a profit. I worked for Met Life many years ago and made money but disliked the entire industry.
I knew we were being robbed, but you've explained this simply so the likes of me can understand lol. Thank you :)
Hi Hippychick,
It's all about the money. Politicians are bought by corporate America. I am very cynical but the facts don't lie.
Not just in America either....bankers are still getting away with daylight robbery in the UK as well....
You're exactly right.Ry Cooder did a song called no banker left behind which is a funny parody of the banker situation. I have borrowed his song and do my own version.I would like to get permission to make it public.You can probably catch his version on Youtube. Thanks for the laugh,too bad it's so pathetic and on the backs of the taxpayer...............Marty
That song is in my archives at this time.I would like to get back to it. I've been concentrating on my original stuff.I have six on Sound cloud under "goodfoot"...............Marty
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Out here where I live, the "established" banks milk every drop they can get in the form extortionist interest rates, helped by the government which invents all manner of taxes to get more of the money they didn't get through compulsory pay-as-you-earn deductions. The so-called "peoples' banks" devise all kinds of schemes to help us out of poverty while all they do is get rich quick and then collapse in bankruptcy claims!
I want to make my money honestly and help others improve their lot, while I'm at it.
I'm sure you are enjoying the WA experience. Keep up the good work!
Thank you. Yes because money is not that important to me.