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|User Info||Did BAC Cheat HAMP?; entered at 2012-03-12 07:37:20|
Registered: 2009-08-24 Blueridge
Can someone tell me once again why the American people don't rise and demand that these institutions be closed and broken up
Nice article this morning!
I'll posit my answer to this question:
Because most people aren't being affected yet, and as long as they're getting theirs they don't give a flying ****.
And second, because the majority of our MSM coverage on the fraudclosure mess has placed the blame on people who borrowed the money.
That makes it easy for those who still have jobs, current mortgages, and some disposable income at the end of the month to ignore it and blame on it dumbasses who borrowed too much money.
I don't dispute the idea that the borrower is to blame (at least in part). But as you astutely point out, the MSM/poltiicians rarely if ever mention the fraud and unethical lending practices, nor the outright theft of packaging subprime backed MBS as first class investments.
That's why it's still going on, and until the people of this country take a figurative 2x4 upside the head and really feel some pain, that's the way it's going to stay in my humble opinion.