Friday, August 12, 2011

Homeowners not underwater may face greater loss of wealth than those who are underwater.

There are MORE HOMEOWNERS who ARE NOT underwater than are underwater. The continual laserlike focus on those who are underwater while not publicizing the plight of those who could lose significant amounts of built up home equity, is a divide and conquer technique that many bloggers appear to have fallen for.

Losing one's job can freeze a homeowners line of equity that may have taken years to create via an initial down payment and years of making monthly payments.

Losing one's job, or perhaps not being employable because one is caretaking for a family member (as 70 MILLION americans presently do) can lead to the loss of WEALTH through foreclosure.

The continual overfocus by the media and bloggers on homeowners who are upside on their home mortgage while virtually NO PUBLICITY is given to those who are actually being robbed of their own earned wealth serves the banking interests.

Not discussing the loss of actual wealth for homeowners who are out of work or are taking care of another family member actually weakens the position of those underwater by dividing and conquering the various homeowner situations that presently exist.

You are viewing Swarm The Banks. Please check out Parallel Foreclosure blog and UNfair Foreclosures blog as well.

Saturday, August 6, 2011

Standard and Poors confiscates the excessive consumer credit card interest rate profits U.S. banks were charging american consumers.


For years I have been advocating the United States government and banking institutions quit relying on excessive consumer credit card interest rate charges as a way to profit from the poor and middle class. Apparently Standard and Poors agrees with me and they have now confiscated the credit card interest rate profiteering that the banks and our government have been engaging in in ever increasing volume over the past decade and a half, by lowering the U.S. credit rating.

The Standard and Poors U.S. credit rating reduction may result in an annual surcharge of 75 billion dollars against main street and those already in debt. I estimate that every year consumers pay around 100 billion to 175 billion in credit card interest rate charges.

Instead of cutting the interest rate obligation for those who would agree to keep paying DOWN their overall credit card debt, Standard and Poors just stepped in and STOLE what should have been credit card debt interest rate relief for main street.

We live in a time when LESS overall consumer debt IS A GOOD THING, yet the government, news media and wall street continues to bray out loud that main street is desperate for access to additional high interest rate credit card debt. Our own government and wall street has allowed their own credit card interest rate greed to hit main street america once more in the pocket book.

The extra profiteering that the banks and the U.S. government were making off of credit card interest rate charges has just been siphoned off by Standard and Poors. Sadly, bankers, wall street and the government will use the standard and poors U.S. credit rating reduction as an excuse to RAISE interest rates against main street, when it is painfully obvious that those who are in debt need some type of RESPONSIBLE RELIEF.

A reduction in main street's debt would be achieved by lowering credit card interest rates on debt that has already been accrued, which would actually improve the United States economy moreso than raising interest rates in general.


You are viewing Swarm The Banks. Please check out Parallel Foreclosure blog and UNfair Foreclosures blog as well.