They own your houses and most of your cars and your land and your government. Oops, did I say that out loud. Well if they didn’t, wouldn’t the government have actually punished the banks for the illegal, specifically fraudulent practice of “Robosigning”? In stead they helped the banks in every way possible.
OK, if you heard anything form the lame-stream media, it was that the banks just got hit with a stiff $26 billion fine. Fine.
Actually it was a “settlement.” But that’s not all! Of that $26 billion, over $20 billion worth are secured loans covered by Fannie & Freddie, pension funds, insurers, and 401(k)s all backed by “we the taxpayers.” In short, we take it in the shorts.
So, what the banks are left holding is $5 Billion, which is about $2000 per loan, or about 1% of the average $200,000 loan. Oh, and the banks themselves are to report each loan and fine. Good luck with that.
But wait, there’s more! Having settled this, those huge bundles of low expectation loans are now worth much more. Happy banks. How much more remains to be seen, but certainly greater than 1% more. So once again the banks get bailed out by … um … us.
But wait, there’s more!
It’s funny how “we the people” sounds like we’re in charge, but in the modern world of doublespeak it only means “we the burden bearers.” So if you are one of those radical folks who are worried about becoming enslaved by some elite and powerful group, worry no more. More and more of whatever you do for employment, you do for “da man.” It is just a matter of who “dat man” is. You might fight all those “Progressives” who have infiltrated and inflated our government, but who owns the government?
Well if the government were actually in charge, they would have done as any logical party who discovered and investigated blatant institutionalized fraud. But no, the Federal task force didn’t use what they found to uncover a huge conspiracy between all banks. After all such a coordinated widespread standard of fraud might kinda, maybe, suggests a conspiracy to those prone to such delusional thoughts that there is a deeper corruption, but our Federal task force decided to settle without a hearing. This not only lets the bank structure off the hook, but shoots holes in State level suits as in New York, Massachusetts, and Delaware.
But wait! There’s even more. There is a new Federal Foreclosure Task Force to watch over us. Doesn’t that make you feel better? More tax money is being spent to pay more federal employees to ensure we don’t look any further behind the new curtain they have just pulled over our eyes. Well that’s only if you call headlines that the settlement is a big victory for you, “a curtain.”
Don’t wait! There’s always more. Just uncover your eyes and spread the word.Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!