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Plan to save underwater borrowers sinks

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Mortgage Professional America | 05 Sep 2013, 06:42 AM Agree 0
A controversial plan to save underwater borrowers has been blocked
  • John C Durham | | 05 Sep 2013, 09:53 AM Agree 0
    We will have public banking of some kind or we all will go down with the TBTF style of Capitalism the owns our financial system and government. We are in a Republic not an Capitalistic Empire. Capitalism must work to do something for the "General Welfare". Right now the Big Banks are only an enormous liability to everyone.

    Public Banking does 40% of the Earth's banking, does it better and does it cheaper (by far), see: Bank of North Dakota:

    The State of Nevada sends their money to Wall Street when the Sun goes down everyday. Why take the public's money and give it away? Every dollar of public money could be leveraged many times and lent back to local government to renew the whole nation instead of giving it to banks to destroy the nation.
  • Wm Matz | | 05 Sep 2013, 09:54 AM Agree 0
    Interesting that "the mortgage industry" [AKA Wall Street] that created the massive MBS fraud on borrowers, investors, m.i. insurers, and local governments complains that someone might make a profit cleaning up their mess. Given court revelations that up to 100% of mortgages are not legally owned by the trusts that claim to be the owners, it would be nice to see some real sanctions against the major culprits.
  • Larry | | 05 Sep 2013, 11:00 AM Agree 0
    We need to keep in mind that this is not just big banks. If you sold your property and took back a note secured by DT then the government can say screw you secured contract we will decide if you canb kiss your funds by-by or not.
  • Reggie | | 05 Sep 2013, 12:11 PM Agree 0
    This just goes to show you where the Mortgage industry stands on this matter.
  • aldo5818 | | 05 Sep 2013, 12:20 PM Agree 0
    This just goes to show you where the banking industry stands. A bunch of heartless individuals. They are the ones that started this whole mess and already made big time profits of off the the blood of regular hardworking families.
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