JP Morgan Chase Disgrace, the never ending tale of the damage Chase Bank has done to their customers over the past several years.

Just start reading some of the comments about Chase Bank and their banking practices and it makes you want to fume. Or, Occupy.   


If Justifiable Debt Restructure were allowed, ALL of these people could have fought back. Right now, they have no tools to fight back.


Read it and weep, get angry, occupy, but remember that this is what people have been dealing with for the past several years.


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Irish Banks Face Mortgage Strikes.

Stupid, Stupid, Stupid billionaires and trillionaires. 
Let it go. 
Reasonable interest rates or just die. Seriously. Do us all a favor and either accept reasonable interest rates, or just die. Click here to go to the story below.

CLICK HERE TO SEE THE ABOVE STORY.

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Why did the Federal Reserve and the U.S. Government step aside 10 years ago and let Wall Street and their "investors" run the home mortgage show over the past Decade?

(Edit note Sat. Nov. 12, 5:16:00 pm, I have changed the title of this article to more accurately reflect the content that was created).


Why did the government and the federal reserve step aside and allow wall street to move in and become the direct beneficiary of mortgage securitizations while also allowing wall street's "investors" to be the direct underwriters of home mortgages as well?


If the federal reserve (a non governmental agency), or the U.S. government had offered mortgage securitization bonds to wall street, homeowners would have still been protected and insulated from the past 10 years of wall street investment shenanigans because they would have been PROTECTED by our own government from such dangerous nonsense.


Instead, a little over ten years ago it appears the government and the federal reserve simply stepped aside and allowed wall street's influence and their investor's money direct access to the homeowner. Wall street and wall street investor's "profit at all costs" agenda was diametrically different to the federal reserve and our own government's home mortgage track record.

Our own government might see the value in restructuring a mortgage so that the homeowner can keep making regular payments on time. Wall Street didn't care, and our entire economy caved in even as Wall Street rewarded itself with obscene amounts of bonuses.

Wall Street seemed to have created quite the mortgage ponzie scheme. If homeowners make their mortgage payments on time, wall street would profit handsomely from wall street mortgage securitization investment deals that were already in place. If the homeowner failed to make their mortgage payments on time, Wall Street had other investment schemes in place in which they would also profit handsomely based on homeowners' failing to make their mortgage payments! 


Mortgage servicers also started profiting from the excessive fees and penalties they tacked onto struggling homeowners for the most minor of infractions. One homeowner lost his home over a 13 cent mistake! This would never have happened when the government and the federal reserve were directly involved in all mortgage agreements.


So why did the federal reserve and the government not keep doing what they had been doing for well more than half of a century?  Was the rescinding of Glass Stegall the reason that the government and the federal reserve seemed to become disinterested parties regarding what went on with home mortgages?                                                

Just because Glass Steagall was rescinded does not excuse the U.S. government or the Federal Reserve from becoming disinterested in the home mortgage industry, yet that is exactly what the federal reserve and our own government did to the american people.

Maybe allowing the federal reserve and our own government to print money without parallel responsibilities makes having a working relationship with homeowners...kind of boring??? 

Why have a working relationship with the 99% if you can just print money at will and hand it out to your billionaire and trillionaire friends and let them do the work for you! And we all know that every billionaire and trillionaire out there earned their all of their wealth in a completely righteous and honest manner. (sarcasm alert).

Did our own government and the federal reserve simply get out of the home mortgage business so they could get into the "print money for wars" scenario instead? Did the government stop being directly involved in home mortgages so they could print money for other purposes such as war? Did our own government and the federal reserve aid and abet specific companies that profited handsomely from war and who may have then contributed to the politicians who made them rich? If this is the case, people need to be tried, convicted, and jailed.  


Welcome to the Occupy Movement.


Who approved absolving the federal reserve and the U.S. government from directly backing U.S. mortgages?  Did the U.S. government and federal reserve's lack of responsibility when it came to backing home mortgages rise to the level of conspiracy against U.S. citizens?


Presently, debt restructuring first requires a default by the debtor, no doubt because that is what wall street and their greedy  investors wanted. Yes, you are a greedy investor if you happily forced homeowners to pay huge penalties and fees on poorly constructed home loans, or cause the homeowner to lose their home if they didn't pay the huge penalties and fees.


Our own government's direct involvement in home mortgages would have afforded more flexibility in offering justifiable debt restructuring without first requiring a default by the debtor, especially when it became clear that the economy was not doing well.

So again it must be asked, why did the U.S. government and the Federal Reserve step aside and expose homeowners DIRECTLY to the seedy hands of wall street and their investor's "profit no matter what happens" scenario almost 11 years ago?

The 99% needs to fight to get a debt restructuring without a default declaration passed into law plan or millions more americans will unfairly lose their homes to the same unseemly wall street characters that caused their need for debt restructure in the first place. 


If our government and the Federal Reserve continues to drag their feet over justifiable debt restructuring without a default, they too need to be put on trial.


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Trillionaires, Billionaires, Higher Taxes, and interest rate charges are to blame for the world wide economic problems.

The more corporations are taxed, the less they will spend on new employment, even less than they currently do.


I believe our economic issues are entirely related to interest rate charges. The endemic belief that interest rate charges are normal and ongoing is destroying everybody but the trillionaire's wealth base.


Democrats like to talk about how past taxation created successfully run government public jobs programs over the past 85 years. However what fails to get mentioned is that whenever the government used taxation to create a public jobs program, that program actually helped increase the efficiency of some aspect of our industrialized nation.  


Whether it was making roadways, laying down sewage pipes, phone lines, building the Hoover Dam, dredging the Mississippi River or buildinga new suspension bridge where one did not exist before, anytime the government converted tax money into job generation they were creating new and more efficient ways for small and large businesses to create commerce.


85 years later, and much of the country and the world is built out. The types of government projects that resulted in increased commerce 85 years ago either are now too costly to perform or would directly compete with businesses already doing the same kind of work. 


The answer to our present economic woes is for all the trillionaires and billionaires to accept the concept that their money is NO LONGER NEEDED. Trillionaires and billionaires no longer need to be getting the highest rate of return on their deposits or investment opportunities. 


Until lower interest rates returns on secured bank deposits happens, the trillionaires and billionaires are to blame for the present economic destruction of main street. Trillionaires and billionaires should be getting the LOWEST rate of return on their secured bank investments.

Higher taxation and paying the highest interest rate of return to the trillionaires and billionaires puts too much pressure on wall street and other investment portals to find higher profit margin investments. 

The result is a strong and steady U.S. companies are blindsided by wall street and the investment fund managers who then try and create the same company in other countries where profit margins are higher and the work force is paid much less. All in the name of meeting the profit requirements as dictated by the trillionaires and billionaires. 


NOBODY ever talks about interest rates dividends and charges and the destruction they are teeming on a global scale, and it just freaks me out.


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