watch for under the table bank bailout after election

  

You can already here the spinning of the bank spokespeople as they once again collude with politicians to try and buy votes in the upcoming election.  After Obama vetoed bill that would have given the banks a free pass out of the mortgage fraud quagmire, White House staff was already laying the ground work for another change of the rules to allow banks to steam roll borrowers.  They are already working out a deal with a wink and a nod that will lead to another outrageous effort to change the rules of the game in favor of the banks.  It should not be any surprise though because the banks have always gotten what they want in the long run.  The perfect example was when banks were allowed to move to mark to model to keep them from being insolvent at the beginning of the crisis.  The were allowed to "pretend" they were not bankrupt because they no longer had to mark their assets to market.  The banks are getting over on everyone. Read more here:   http://financialfactstoday.blogspot.com/2009/03/mark-to-market-changes.html


Here is an example from the Wapo:
“We believe freezing foreclosures for all banks in all states, whether we have reason to believe them to be in error or not, is simply not the prudent step to take in this fragile housing market,” he said. )--
The full article is
http://www.washingtonpost.com/wp-dyn/content/article/2010/10/10/AR2010101003300.html?hpid=topnews


--(The Obama administration does not support a nationwide moratorium on foreclosures at this time, Federal Housing Administration Commissioner David Stevens said Sunday in an e-mail response to questions.

This is like saying that we know the suspect has murdered two people but if we try to bring all criminals to justice it will clog up the legal system.  Therefore, we will not prosecuter the known offenders. 

If the documents are believed to be in error how can the government say that halting foreclosures is not warranted?  It is getting more clear by the day that this moratorium is a stunt to garner votes for a few politicians who have leaned toward the banks side of the page.  We can be certain that the banks will be calling in the favor as soon as the election poles close. 

It is an outrage that it was just swept under the rug and no one has called Stevens on his remarks.


The banks are stalling for time until after the election and then they will be back on the assault against borrowers.  They will continue to try and shame and blame homeowners who have the courage to stand up to the banks and demand the banks be accountable for there own portion of the massive drop in collateral value. 
Anyone who  thinks the banks should be able to get away with what they are doing whether it is legal or illegal has fallen off the deep end.  The above quote already reveals that the administration know something is wrong.

 The problem is they don't have the stones to put an end to the fraudulent activity by the banks.