Monday, October 18, 2010

Another Screw-up!

Recently the “Too Big to Fail” financial institutions made headlines with questionable foreclosure procedures. While the White House is opposed to a nationwide moratorium on home foreclosures, Attorney Generals in all 50 states have launched an investigation.

What actions do you think should be taken to deal with this foreclosure crisis?




Comments

1. Harry said...

At least a moratorium until the investigation is complete.

2. Cray said...

Who screwed up?The banks or the administration for bailing them out?

3. Pekay said...

Instead of nipping at the fruit, get to the root! The banks (money changers) operate of the wise of finding ways to scam the system to make $$$ from human chattel, no matter what laws are put in place. Nothing new under the sun.

4. Frank said...

A complete overhaul is needed.No bank is too big to fail.

5. Samantha said...

A national moratorium is not the answer,but a thorough investigation that can lead to corrective action.

6. Latonya said...

I don't have an answer but unfortunately neither do they. In the meantime,we need a moratorium until someone figures this out.

7. Barry said...

As we talk ,Bank of America says foreclosures are back on. Hard to believe that all is fixed ALREADY!

8. Manny said...

We need enforceable regulations not just for these foreclosures,but for the banking industry in total.Wall Street reform only scratched the surface.

9. Gene said...

They are not too big to screw up!

10. Cyn said...

Another example of 'Who's minding the Store?"

11. jean said...

A moratorium now.

12. Clara said...

This was not a screw up.How much money was made at the expense of homeowners.

13. DJEZ said...

I am willing to wait for the results of the investigation to pass judgement.

14. Will said...

The problem is that they are really too big to fail.The repercussions to this economy would be unthinkable.

15. Gina said...

Moratorium NOW!

16. Randy said...

Ask Obama,he has all of the answers

17. Paul said...

So what are the banks going to do with all the foreclosed property? They are tight with their lending to the average American buyer.Since they have been bailed out with our tax dollars they are not in need of $$is there some hidden agenda we don't know about?

18. Tre said...

This is what happens when industries are allowed to police themselves.

19. Benita said...

Bailed out with taxpayers' dollars and now the same taxpayers are losing their homes when they can't pay the banks. Something just doesn't seem fair.

20. justin said...

I don’t see the advantage to the banks in such a distressed market.Who's gonna buy these houses?

21. Pete said...

I have had the opportunity to read other people's words listed above.Currently, #17 Paul, has raised the issue I have been concerned with from the onset.Once it became clear to the public that the Bank Loans were made "wrongly", it has become a money mystery.So far--the Government has given money to the banks(to bail them out)but, what about the National Debt?Does this money actually come from all taxpayers?Then-we as citizens are, losing not only to the bail out progam--but also, the citizens whom can not afford those loans have lost their homes AND will not see any of the money they had invested.What I guess my question is--why should the banks get 1st)Bail-out money 2nd)value of the real estate?My thought is the Banks that used predatory lending practices to approve those loans should fail PERIOD.

22. rumormill@earthlink.net said...

To me this just seems wrong.First the Banks used predatory lending practices to approve these loans.Then these same Banks, get a bail-out from the Federal Government--with, our tax money!!Now these same banks have foreclosed, probably incorrectly in most cases!!To top it off, these same Banks expect more money from the sales on these foreclosed properties!!To big to fail, is hardly the phrase that I think of when I consider the turning of events.I would rather say after all the corruption has hit the fan--"crime does pay"!!!

23. wayne said...

you can't mess with the banking industry for they are holding the world as hostages. make them accountable and we will see further erosion of our economy. tea-publiCORPlicans are out for some serious blood and they mean business. pure greed will be the downfall of this nation



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