Foreclosure crisis far from over

Despite what mainstream media calls a recovering economy, the reality is Americans are still losing their house to foreclosure. The foreclosure crisis is far from over and it is apparent as Main St. continues to struggle. Author Nomi Prins believes there is clearly a lack of connection between Washington and the reality everyday Americans.

Category:

News & Politics

Tags:

• Dina Gusovsky
• Nomi Prins
• Author
• Financial crisis
• banks
• federal reserve
• treasury department
• debt
• FDIC
• foreclosures
• stock markets
• bonuses
• jobs
• unemployment
• student loans
• JP Morgan
• Bank of America
• bank bailout
• profits

[DavesAV6]

omg, educated people can't figure out the solution?

solution: Banks, Oil company's, credit company's can NOT fall under free enterprise. They NEED to be regulated. They NEED to be made to take less profits in order to help the economy. Under free enterprise, those institutions are able to make there money even at the expense of the entire nations well being. We are free as long as we don't infringe on others freedoms or rights...but that don't seem to apply to those institutions?

[rockbay79]

Man, RT has good-looking anchors!

[abacus1963]

I'm shitfaced drunk and I just shit my fucking pants!

[sha370z]

The fed bail out the banks 9 trillion in over night loans sep oct 2008 . did the something in 2009

loaning out trillion more and the fed buying up the bad home loans in 2009

[RayAir1]

@psiewert83

The government and the banks ARE the problem asshole.

Enjoy being a serf, which IS what you are.

May your chains rest lightly upon you.

FYI_ when a mortgage is made the money does not exist. It is "electronically created" by the banks. There are no paper dollars. Well hell, even if there were paper dollars the U.S dollar is a fiat currency and essentially worthless anyway.

Enjoy paying on your worthless house.

Later.

[psiewert83]

@RayAir1 Perhaps if you wouldn't have been a dumb ass and over reached your spending in the first place you wouldn't have done your part in hurting this economy so bad. And yes i DO have a vested interest in making sure people keep paying their mortgages. If the bums stop paying, the banks get fucked, and then the government will bail them out with MY money. Maybe someday you'll grow up and see how negatively your immaturity and stupidity affects us all.

[RayAir1]

@psiewert83

You must have a vested interest in saps continuing to pay on their severely underwater mortgages.

I saved over $30,000 in a year by letting my overpriced house go. My credit dropped to 700 (from 822) and is now 758 (excellent). I have no debt, and my house payment now is $650 less a month than I was paying on an equal house.

If you really apply yourself, you might get promoted to shift supervisor at McDonald's.

Good luck with that.

[psiewert83]

@RayAir1 Well if I was uneducated like yourself I would probably BE working at McDonalds. Thankfully I applied myself and can afford to pay my mortgage.

[RayAir1]

@psiewert83

Sure ya do sport. How much is McDonalds paying these days anyway?

Go slap your mother you sap!

[psiewert83]

@RayAir1 Yeah I know what I'm doing. I educated myself, studied hard, applied myself, have a fantastic job with a large salary, rented an apartment for 4 years while I saved money. Built up an extremely large down payment and safety net. Bought a house 2 years ago. Pay my mortgage on time plus an additional month payment every year. I helped MYSELF through life. I didn't rely on a bank or my daddy to support me while i say on my ass like you do.

[RayAir1]

@psiewert83

I knew what I was doing. Do you know what you're doing, simpleton?

[psiewert83]

@RayAir1 Did you not realize that happens when you stop paying your mortgage?