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Financial Crisis and Becoming Accountable July 30, 2009

Posted by John Watch in Uncategorized.
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Originally posted in NY Times Article

housing-market-crisis

Greed and capitalizing on a persons’ misfortunate brings out the worst in us as a nation.  The current financial crisis has many culprits, but millions of victims.  We can say what we want about over indulgence and living beyond our means. But we must ask; how was this all possible in the first place?

The FAILURE of the prior administration to regulate the mortgage industry, notably those loans acquired by private investors who sought higher returns than the banks is the root problem.  Like any parasite or disease, there are innocent victims who suffer because of proximity to the original disease. 

 At this point in time the CURRENT administration has the ability to step forward, provide a cure and start the healing process.  Take a look at a proposed cure called Mortgage Assistance Program. This proposed cure has flaws, but it offers a real solution to a disease that needs a real cure.

The real question is, will the CURRENT Administration step forward and lead us, or will it succumb to the efforts of the Banking Lobby, or more appropriately the Loan Servicing Lobby?  Greed is not a good thing when our nation is staring into the financial abyss caused by a small group of individuals who sought ways to manipulate the American Dream.

For more information regarding property data, public records, Real Estate Reports and the Mortgage Assistance Program CLICK HERE.

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