Banks win----again.
- Thread starter gyrafoam
- Start date
Thank you for posting this. My Sister and I were afraid this might happen. Obama is no dummy, but he might also be very aware of how and where his bread is buttered. I still say we need, as a nation, to ELIMINATE FOR-PROFIT LOBBYISTS. They can only help those who have the fantastic funds to employ them.
I actually agree with the banks on this one. What right does the government have to modify mortgages or other private contracts? Except in bankruptcy proceedings, the government's business is simply to enforce existing contracts when conflicts arise, not to modify them in favor of one party or the other. Like the bailout fiasco, once you open that Pandora's Box it will be very difficult to close it again.
Interesting
I am of two minds on this,one the people most in trouble should never have aquired mortagages in the first place. That is the fault of deregulation=Congress.
Two the way this played out is typical of the unhealthy aire in Washington, the Banks are just doing what everybody else has been doing for years. = The way Congress conducts itself.
I would expect the Obama people were trading politically down the line on this one, if they are going to be true to their message of "Change". We will watch with interest!
I am of two minds on this,one the people most in trouble should never have aquired mortagages in the first place. That is the fault of deregulation=Congress.
Two the way this played out is typical of the unhealthy aire in Washington, the Banks are just doing what everybody else has been doing for years. = The way Congress conducts itself.
I would expect the Obama people were trading politically down the line on this one, if they are going to be true to their message of "Change". We will watch with interest!
twinniefan
Well-known member
people vs the banks
Usually it is heads the banks win, tails the people still lose.
I believe Lord Acton once said, "the final battle will be the people vs the banks",well at the moment I would suggest the banks would win, particualrly when they can influence Congress/Parliaments so much.
Usually it is heads the banks win, tails the people still lose.
I believe Lord Acton once said, "the final battle will be the people vs the banks",well at the moment I would suggest the banks would win, particualrly when they can influence Congress/Parliaments so much.
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