While something may be rotten in the state of Denmark, and while it may be very stinky it can’t compare to the stench floating between Washington and Wall Street today. I was reading an article in the Business Section of the Cleveland Plain Dealer on 10/8/10 page C 2 by the Associated Press and I quote, “Credit card use off for 24th month” was the headline of the piece. It mentioned that “Banks gave up on $42.5 BILLION in credit card debt in the 1st half of 2010, according to the analysis by the website Card-Hub.com The annual rate is more than twice what it was in 2007.”
Whoa, I mean whoa. And also something totally unprecidented is going on in the bank forclosure area now. I can remember reading in the last couple of days and weeks that a series of Banks (Bank of America etc etc etc) have halted foreclosures. Now wait a minute, BANKS are soulless financial creatures that can only like a vampire feed and live off your financial blood. Period. That’s their lifeblood, your money. That’s how and why they exist. Just like a vampire. So why all the sudden the full stop to foreclosures that were going on at an all time high supplying the banks with the financial blood they need to survive this depression? Because they found out some law had been overlooked. Nobody’s saying exactly what the shit is going on but if it has caused ALL foreclosure by these Megabanks to suspend I suspect they’re Lawyers and Lobbiest are scurrying around Wall Street and Washington as we speak trying to remedy their incorrect financial language in these legal documents and/or twist more than a few political arms desperately before this CLASS ACTIONABLE huge mistake can be acted upon by the very souls they’ve tossed out into the streets.
What if they could have never legally tossed out anybody with these crap papers? And everybody who has been tossed out with their Bad Legal Papers has an ACTIONABLE claim. They (the Banks) would say this would swamp the system (the same system that had the time strength and ability to toss you out individually).
Now, just as fast as they’d foreclosed, They’d have to start returning people to their homes and in lieu of cash settlements maybe put it in monthly mortgage payments of the front end of the bad mortgages, that have now been rewritten with the Courts approval. There’s an Idea, imagine how much more $$ you could spend on the Economy if you didn’t have a mortgage for say 10 or 12 years. Pain and suffering you know, living in cars with 3 children. That’s the kind of damage this has done. I say those kids shouldn’t ever have to worry about they’re childhood homes ever again. Courtesy of the botched legal paperwork that these banks must have used to secure your eviction from your illegally foreclosed upon home. After all we all have to play by the same rules. And now it’s clear that their ownership of your house is based on bad paperwork. Clearly it was illegal to seize your property without the proper papers and that’s why the big halt in foreclosures. Corrupt, and Legally incorrect paperwork of the Banks.
Can you say “Class Action Suit”?!
Think of it.
The law being as speedily applied to the Banks as to the poor people they’ve destroyed. Now that would be the American thing to do. The right thing.
Here’s an article just out…10/9/10 http://news.carrentals.co.uk/bank-of-america-halts-sales-of-repossessed-homes-34217408.html
*P.S. Anymore this is not just my opinion, it is looking pretty stinky between Wall St. and Washington. What a surprise.