Thursday, April 21, 2011

Nihilists at the Helm
(http://www.opednews.com/articles/3/Beyond-ForeclosureGate--I-by-Michael-Collins-110421-492.html)

The big banks, Wall Street, the politicians they own, and the Federal Reserve Board created the real estate bubble in bad faith.
They knew or should have known:
that the real estate bubble was unsustainable;
when the bubble deflated, many homeowners would hit a financial wall; and, that
when homeowners hit the wall, to maintain viability for their families, they would need relief of some sort.

What did the nihilists of the financial elite and their hit men walking the halls of power do with all this knowledge? They went ahead with the real estate bubble, fostered it, deregulated meaningful controls on the financial industry, and crafted a new bankruptcy law to stick it to filers. They knew or should have know that data from 2001 showed a very high rate of filings due to the financial stress of medical care and crises. Did they care? Do they care now? Has anything been done to correct this injustice?
While citizens suffer in financial distress, often due to illness, at the behest of influential bankers and investors, the Department of Justice crafts a settlement with lenders and their representatives to relieve them of the stern justice due for their specific crimes and the larger horrors they visit upon citizens, all in the name of short term profit.
We are most emphatically not a nation of laws. We are a nation where the law is used by a very few for their own purposes, without regard for the well being of the nation or its citizens. We are a lawless nation.
END

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