The most dangerous political agenda on the horizon today is the sweetheart deal that the banks are about to get in the foreclosure settlement package. If this deal goes through it will have widespread economic, social and political consequences that will be felt by some for generations. The rich will win big time and anyone who is vulnerable will be hurt.
Let your State AG, your elected officials and the Obama administration know you are furious about this deal and you will hold them accountable if it happens.
The clear winners are the banks, who cash out their criminal and legal liabilities for less than three cents on the dollar.
The clear losers are those who lost their homes in a nation-wide mortgage fraud scandal. They will only get 1500-2000 dollar cash payments for permanent damage to their economic lives.
What did the bankers do that required this 'settlement'?• Defrauded tens of millions of homeowners • Stole millions of homes • Bankrupted millions of people through predatory fees, no-win loans, etc. • Unilaterally privatized national property records • Screwed up national property records until nobody knew who owned what • Systematic document forgery to defraud millions of people out of their homes • Caused the worst economic crisis & meltdown since the Great Depression • Industry-wide conspiracy to defraud investors, causing economic collapse • Destroyed towns and cities • Cost millions of people their jobs • Held the world economy hostage, until they were bailed out for their crimes
What price will they pay? About 25 billion dollars in 'soft money'. So you understand how little money this is, consider this: homeowners owe the mortgage industry 700 billion dollars more than their houses are collectively worth.So the banks are cashing out of this problem for less than three cents on the dollar.
What will those who saw their homes stolen by the bankers get? 1500-2000 dollars.
I think that says it all.
But it doesn't. It gets worse.
Read this diary, do your homework, start asking some very serious questions and tell your elected officials that this deal will hurt the economy, let criminals off the hook and provide no justice for those who were robbed. If we let this deal through we will be screwed economically and the bankers will fuck us again.