Tuesday, February 14, 2012

EDITORIAL: Mortgage Bust

By Christina Fermin

Politics & Society

Recently a deal was struck with 5 of the major banks here in the U.S. over unethical mortgage practices and foreclosure abuse. Ally Financial, Bank of America, WellsFargo, Citibank and JP Morgan Chase agreed to a $26 billion settlement while lowering the principle amount owed on underwater mortgages. For those who have lost their homes to illegal foreclosure practices, they will get a measly $1,800. While the full scope of the deal has not been announced yet, I can hardly say that the banks have been held accountable or that homeowners got any real justice out of this settlement.

This was the largest case involving fraud in the history of the united States, the investigation barely scratched the surface to what could have been monumental and because of this lame duck settlement the true scope and size of the foreclosure crisis may never be known. Banks essentially have gotten away with destroying families, lives and our economy. While we bailed out the banks at over $700 billion for their shenanigans, they got off at paying up a measly $26 billion for their robo-signing and unkempt practices which has left 1 in 5 Americans owing more than their house is worth, by an average of $50,000.

This goes to show the widespread corruption on account of Wallstreet and how they inadvertently control those who we elect to power. Mayor Amschel Rothschild is famous for saying, “Give me control of a nation’s money and I care not who makes her laws.” This quote has never rang so true as it does today. For a crisis that has brought this nation to its knees and has lead to a staggering 23% unemployment rate (when you look at the real numbers), skyrocketing tuition rates, ruined our quality of living and a withing away of social safety nets NO ONE HAS BEEN HELD ACCOUNTABLE. Especially when it has been proven that this economic crisis we have been facing since 2008 could have been prevented!

I for one am outraged. The banks have gotten away with economic and social murder. The middle class no longer exists in America because of the unethical greedy behavior of Wallstreet and the Banks. America the beautiful no longer exists, we live in America the plutocratic nation for the rich who control the power and wealth in this country. The mainstream media has failed to do its job in reporting the abuse and corruption that is plaguing this nation and our elected officials have failed in their oath to the Constitution and the American people. Fire Congress and throw the banksters in jail! We are the majority and they are the minority, the people can overcome this.

As election season comes into full action, we must be vocal, united and insistent about the leaders we would like to see in office. The leaders that have held incumbent seats in Congress and the career politicians must be replaced by just men and women who swear to protect the Constitution and the rights of the people and when they fail to do their duty, they must blacklisted. We must do our duty as people of a nation to be vocal and take to the ballot box. If we continue to allow Wallstreet and corrupt corporations to continue with their behavior of funding Congress and elected officials than we have lost this nation to those who have the money and everyone else no longer matters. We will continue to fall as a nation and a people until one day the history books will speak of the fall of America just as we speak of the fall of Rome.

Never in time has it been so important for you to be active and vocal on your opposition to what is going on in Politics and Business. You matter and what you do or do not do matters. We all wish for peace on Earth, but it will never come, unless we the people forge the way for that peace to come. If we want the American dream back and we want to live in a nation that is fair, free and just. Where the “pursuit of happiness” is a reality, then it must be that we the people stand up to that right and take charge. Until the masses take to the streets and to the box, marching to the hills of the White House, abuses will never cease to exist and America will eventually implode. Make your voice heard, contact your representative and voice your discontent with the direction of our county. Be someone, do something and express your rights as an individual that is part of the collective.

Contact Elected Officials or Pay them a Visit

About the Columnist

With a bachelors degree in political science from Florida Atlantic University, Christina Fermin has always cultivated her love for history, politics, sociology, ancient knowledge and teachings, the outdoors, the ocean and the environment. Christina strives to make our world better by helping us all create a new reality and understanding of all taking place here and now. You can reach her at Christina@MySavvySisters.Com.



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