government connection on short sales (home loss) illustration

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akamai mom's picture
akamai mom
Status: Bronze Member (Offline)
Joined: Nov 5 2010
Posts: 43
government connection on short sales (home loss) illustration

This is an interesting film clip that illustrates the FDIC relationship with the short sales that continue to be underway.  This is to help people who have lost or are losing their home understand a bit of the back story behind the financing. The banking/investment industry played a game of chess with the unsuspecting through predatory loans.  This created an enormous wealth transfer a couple of years ago, and it is still continuing.

http://www.youtube.com/user/fiercefreeleancer

(My advance apologies to the long time members of this forum that are frustrated with us newbies entering the discussions.  I did my best with the search function to see if this was posted and didn't find it.  I think it might help new people who are grasping the intractability of our nation's financial picture.  The first layer of people I shared the Crash Course with are people with sophisticated financial and business backgrounds to see if they could punch holes in the argument.  - They couldn't.  The recent layer for whom I am sharing, are people who are struggling, most of whom blame themselves for their financial inadequacies and feel shame and personal failure.  A number of these people have lost their homes or are losing their homes.  Not every reader of this forum has a strong financial background.  We need to include as broad of a range of people as possible in the understanding of how we are depleting our resources and why.  It takes all of us to truly make fast, effective changes in our collective behavior.)

goes211's picture
goes211
Status: Diamond Member (Offline)
Joined: Aug 18 2008
Posts: 1114
Re: government connection on short sales (home loss) ...

That is a great example of the American Kleptocracy. 

akamai mom's picture
akamai mom
Status: Bronze Member (Offline)
Joined: Nov 5 2010
Posts: 43
Re: government connection on short sales (home loss) ...

agreed.  :-)

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