The cure resides within our own people, and their willingness to break the cycle of abuse.
The abuse in a nutshell is the demon called interest.
Have you ever looked at a break down of your mortgage payment?
99% of that money you pay monthly goes toward the interest that the mortgage bank collects just for lending you that money.
What does the mortgage bank actually do to deserve that type of residual?
The answer is absolutely nothing.
The Mortgage banks have broken the system that enables you to ever now gain a legal title on your property whether you pay it off or not.
A very scant few of the mortgages issued in the last 10 years have been properly registered with the clerk of court in any town, city county in any state of this country.
Fannie Mae and Freddie Mac hold ¾ of all mortgages owed in the United States of America.
That means you the American taxpayer are liable to pay that interest to those banks if Fannie or Freddie come up short and can’t do it.
Well Fannie and Freddie come up short every quarter.
Who gave you that unique responsibility?
The government did on the advice of Hank Paulson the United States Treasury Secretary at that time.
Who before taking that position had the Chairman and Chief Executive Officer of Goldman Sachs.Very convenient for the Mortgage or Investment banking industry, no doubt.
Since Hank then went on to fleece the taxpayers for more funding with the” Paulson Financial rescue plan. Which was supposed to help the country out, but ended up just being
A bailout plan for his buddies, who were in way over their heads in bad debt from the supposed sub-prime crisis that they themselves created by giving loans to everybody and anybody.
They are once again asking us, or rather telling us that they are, going to bailout the banks again with at least another trillion dollars for you the taxpayer to have to pay back.
The banks have a dire need to buy back all those foreclosed mortgages that now plague the cdo’s that the banks sold their investors. Foreclosed upon and sound are two entirely different things and the investors who bought those CDO’s know the difference and want the situation fixed, because what the banks did was against the rules of purchase.
No one in their right mind invests in crap, but that exactly what the banks plied those CDO’s with.
The bailout didn’t work the first time and it won’t work this time.
The overly educated in government have broken the entire system, but
Of the people, for the people, by the people can start a new system and fix our problems from the bottom up. Which is what should have happened, rather than to help Hank’s buddies out.
We as taxpayers own Freddie and Fannie. They hold your neighbors mortgages as well as your own.
If instead of paying the banks for their services fees of them, (which would be that mortgage check you send in every month) we sent the money payable to our own county and city treasurers, we could start to dig out of this mess and actually have enough to fund each state to create it’s own industrial base, so that America is once again employed and working to take to take care of it’s own.
The money taken in by doing this would also afford the states to once again make their pension payments.
There is no other fix, without a job base to be able to fix it.
NAFTA has taken away that job base. It’s time to rekick start it at home.
If “WE” don’t take it upon “OUR” own hands to do it, it won’t get done.
“WE” will only be saddled with more debt because the Federal government decided to place it upon us, and will have no one to blame it on but ourselves, for not at least trying to do it in a different way.
Sometimes you have to think outside the box.
And NOW is that time.
