This is just one more way Obama is bring our country to it's collective knees. And when the end is reached and most people are living in card board boxes and standing in soup lines, the cry will be that 'dam Bush'! Those rotten Republicans, evil banks and corporations.
No one will mention the ignorant, the uniformed, the stupid lazy people that allowed themselves to become victims of government over reach.
This begs the question, just how many people in this country are still so uninformed or ill informed to believe we don't need to make drastic changes in how we are governed, the country is just fine the way it is?
The scariest part in all this is maybe there are a lot of people in our great country that are ready to be enslaved to the will of others.
Obama's robo-signing giveaway… Dick Bove's rant (he's right)…
The U.S. government today announced a $26 billion foreclosure settlement with five of the country's largest home lenders. The deal settles charges surrounding allegations of "robo-signing" – or improper foreclosures made without proper paperwork. The money will go to reduce the principal owed by borrowers who are "underwater" (meaning their loan is worth more than their house) and/or behind on their mortgages.
In short, this deal will give relief to people who took bigger loans than they could afford and those who have stopped paying their mortgage. Meanwhile, folks who continue paying their mortgages on time get nothing. Financial analyst Dick Bove calls it "the mortgage deal from hell." He made his comments on CNBC this morning…
If you're going to do something which is going to reduce the value of existing homes where people are making payments, then every American should stop making payments on his mortgages and send a letter to the Attorney General in his state and say "I qualify to have my principal reduced because I'm not going to make any more payments on my house."
This deal is a crowning achievement for Obama… allocating bank money (which came courtesy of U.S. taxpayers) back to his government to enable even more entitlement. Bove drove the point home, saying, "There is no sanctity of contracts in the United States. Only fools meet their financial commitments. The nonpayers are truly enlightened."
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