Friday, January 21, 2011

Barack Obama could recycle his Absent African American Dad speech and insert the phrase absent american banker in its place.



My guess is Banksters prefer to make a million dollars in two year's time rather than 3 million dollars over 30 years time because they can then immediately reinvest that one million on a new deal. The problem is by skimming such a huge profit off the front end of a cluster of 30 year securitized mortgages, there is less of a driving force remaining to make sure the mortgage agreement stands up for 30 years.
Example: The customer service for a securitized mortgage account suffers as the reduced profit margin now has to last for almost the same amount of time. It would be like buying a car from a dealership, and then 3 months later that particular dealership is gone.
Sure, you can go to another dealership, but because you did not buy the car from them, they made no profit from you when the car was sold and subsequently will have less interest in you than customers they actually sold cars to.
Worse still, because securitizing mortgages allows banksters to take their entire cut up front, the bankster can then cut and run. The bankster may then reinvest their prematurely ejaculated profits, either inadvertently, or intentionally, and create new investment ventures that may actually reduce employment opportunities that would have helped sustain the mortgage deals they already made and then walked away from.
Example: Banksters arrange mortgages for a small town that has a steel plant that employes many of the home buyers. Banksters then securitize the mortgages, but take their own cut up front, and run.
Banksters then use that upfront profit and invest in a plant in another country that can undercut the factory that is helping homebuyers pay off their homes.
It is of no advantage to the homeowner to have a disaffected bank that took their entire cut off of the top, and then resets their priorities elsewhere, it's like giving a drug user a pre-paid credit card with almost unlimited funds.
Example: You hire someone to do your taxes, and you really like them. You like them so much that you refer your friend to them. It turns out your friends tax return is much more involved than your own, and the person you hired ends up prioritizing your friends account over yours. That's what banksters are doing when they bundle and securitize a group of 30 year mortgages so they can just take an up front cut, and walk away.
Securitization equals the future foreclosure of the very homes that were securitized because flexibility to help the homeowner has been eradicated.
Yet Banksters continue to clamor for securitization, and it reminds me of Barack Obama and his speech about Absent African American fathers. Maybe it's time Barack Obama recycle his absent A.A. fathers speech and aim it at absent american bankers who don't want to be around the very brood they assisted in the purchasing of a home.



When listening to this Barack Obama speech, replace the phrase absent african american dads with absent american bankers.
Why don't absent american bankers want to hang around and raise their own mortgage deals, watch them turn from infant to child to teen to young adult, to maturity?
Why do the Absent American Bankers lust for securitization and playing the field even as they lure people 30 year mortgage deals? Does Barack Obama have the guts to stand up to the banksters and give them a tough love speech of the kind he has already given to african american dads?

Barack Obama seems willing to talk directly about the dereliction of fatherhood duty in the african american community, Barack Obama seems willing to talk somewhat condescendingly about gun loving bitter americans, when do we get to hear Barack Obama challenge the banking industry to keep their investments local.


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