Housing foreclosures may top nine million in 2011 and Goldman Sachs predicts the number will reach 12 million in the next few years. The result will be another significant drop in home prices in 2011 and even more families underwater. Civilized nations see the forcible migration of a city the size of New York as an economic and humanitarian catastrophe, but not the United States. The Obama administration and Congress have callously refused to take meaningful action to aid families facing foreclosure even in the face of widespread predatory lending and rampant foreclosure fraud. The only hope now for millions of American families is aggressive action by the 50 state Attorneys General who are actively investigating foreclosure fraud. Whether they have the guts to wrestle a settlement out of the big banks that slows the foreclosure machine and offers families meaningful options has yet to be seen.Yes... this is the world of today...
I like the idea behind the Bankster = Banker + Gangster web site. It is a project of the Center for Democracy and Media organization. I applaud their call for action:
"Too big to fail" financial services institutions have crashed the U.S. economy, throwing millions out of work, collapsing retirement funds and college savings accounts, and forcing many hard-working Americans into homelessness and poverty.
Due to the complexity of the financial issues and the lack of clear avenues for input, average citizens have had zero role in shaping the policy solutions being proposed by government and industry, even as we are stuck footing the bill for the largest Bankster bailout in history.
If you want to rein-in the Banksters and make sure they never get a chance to do it again, join us. We want www.BanksterUSA.org to be your go-to site for updates on the financial services re-regulation fight in Congress and for progressive net-roots campaigning against the big boys on Wall Street.
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