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How Long Before They Get It?

We have been saying for 6 months that until the lenders/servicers begin to address the issues with negative equity that  we won’t see even an inkling of a true recovery because until the foreclosure crisis is abated, confidence in the credit markets will not return.  Until credit confidence returns, there will be no recovery.  So all of this silliness about healthcare reform, cap-n-trade and all the other nonsense the Obama administration has devoted their time to has done nothing but put us 1 year further into this crisis with no end in sight.

It’s about the homeowner!  It’s about the consumer!  It’s about real families, real children, real futures.  And just in case any of you are paying attention, anyone see the absurd bonuses that the banks are handing out and those on Wall Street are receiving?  I hate to sound like a Populist, but when it walks, talks and quacks…you have to call it like you see it.  While I’m a free-market, supply-side guy, I also don’t appreciate being lied to and treated as if I’m stupid, which is exactly what the bankers and politicians have been doing to us.  What was Judge Judy’s book called?  “Don’t Pee on My Leg and Tell Me It’s Raining!”  That’s what’s happening in this housing crisis.  The people in these banks who are taking these bonuses and refusing to work out real mortgage modificationsand address principal reduction are the same people who took Billions of our tax-payer dollars to keep their jobs.  They wouldn’t have a job if it weren’t for our money and yet they continue to keep the same practices and do the same unethical things for the almighty dollar.  It’s not free-market economics.  It’s Greed and, notwithstanding Gordon Gecko’s opinion, Greed Is Not Good!  Last time I checked is was one of the 7 deadly sins.  Unchecked free-markets will always tyranize the middle and lower classes because those in power are unchecked and they will always act in their best interest alone.  Sound familiar?

We need real men and women to engage in the political process, write your Representatives, your Senators and demand accountability and real reform in the banking and mortgage sectors.  We’re all in this together – Unless of course you’re a bank executive or politician.  They don’t seem to have to play by the same rules as the rest of us.

**The opinions expressed are those of the writer’s alone and are not endorsed nor represent those of the law firm, Mueller, Drury and Lawrence, PLLC.**

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