Damon Silvers “We Can Either Have a Rational Resolution to the Foreclosure Crisis or We Can Preserve the Capital Structure of the Banks. We Can’t Do Both”

The quote comes from Damon Silvers, a member of the independent Congressional Oversight Panel October 2010.



10 Responses to “Damon Silvers “We Can Either Have a Rational Resolution to the Foreclosure Crisis or We Can Preserve the Capital Structure of the Banks. We Can’t Do Both””
  1. lies all of it says:

    we are children and NO one is going to fix things for us. because we are on this site means we know more then the average JOE. ok we need to all come up with a plan and start implementing it right away. back in 2004 when i bought a new home and prices rose and my husband loast his job i did not want to be in “denial” that my husband was going to find a job it was already one year so we sold in s. florida and moved 300 miles north to the tampa bay area now 5 years later with nothing but job problems , this time we are in a prickle actually the pickle started in 2009 when we could not sell. so to foreclose on educated people seems unethical. judges are not bothering with histories of folks they are just putting us all in one catagory. that is unamerican. i have been saying this all year 99.9% of us would sell our homes if we could. we just can not. there fore foreclosure should have stopped as the tide changed and we were upside down. we need a plan lets brainstorm egypt did it. yes dc is far but we could start with liitle things getting money out of the tbtf banks and using credit unions, do not elect any person back to congress that has not helped this crisis. this will need some investigagting. if some is good with websites and has more time then me. we need a list of congress now and like a yes or no. we need go beyand party people and vote against anyone who is not helping us. pam bindi (i use steve irwins daughters name becuse she is to young ot have this position), and rick scot are destroying florida at its core. so lets brain storm and get the ball rolling here before we all become homeless. another help would be if all of us can start posting links on these commnet sections to help all foreclosure defences. because that is what i am lacking. proof of mod fraud, proof of appraisal fraud, proof origination fraud, ect thank you we need to keep fighting

  2. rizbanu says:

    The whole banking system is a mess. There is enough evidence of wrong doing and those CEO’s of the TO-BIG-TO-FAIL banks should see the walls of the slammer. Paying big fines does not correct anything. Until that happens we will have people like this Damon Silvers side with the banks. This comes down to our election process. They all depend on support to get back into office so they can give more leverage to the TO-BIG-TO-FAIL banksters. STOP TERRORIZING HARD WORKING MIDDLECLASS AMERICANS WHO PAY THE MOST TAXES and get nothing – in the end be foreclosed on and become homeless.

  3. Jason Werner says:

    The criminal banks (most FDIC-member financial institutions) will not find any members of the mafia that disagree with them. Furthermore, the criminal bankers will find that they would quickly become friends with convicted white-collar criminals that are truly guilty of their crimes and still in prison, if they met at a bar.

  4. John Anderson says:

    Usually when given a chance to ether help the banks or the homeowner, the government sides with their masters.
    Something bothers me about the way the government reacted to the crisis that was supposedly caused by the sub prime market.
    The government could have made all the payments due on everybody’s mortgage over 3 months due, and if not paid back, take it out of their social security checks, at less than 10% of what was spent.

  5. Ms. A.c says:

    There should be no question regarding “what to do”. The Big Five Banks need to be prosecuted for perpetrating fraud on the courts, fraud on thier investors, fraud on the homeowners, fraud on the world and economic terrorism. What is the delay? Why are we not seeing the CEOs of the major banks going to jail? This entire fraudclosure situation is a continuing outrage. Our economy will never improve until and unless the banks involved fess up to their fraud and make whole all of the parties they have defrauded. Otherwise, economic recovery will be agonizingly slow. WE THE PEOPLE have lost confidence in our governments (federal, state & municipal), bureaucracies, and oversight agencies. Until the guilty take honest, unretreating steps to right their wrongs the confidence of the people, which is crucial to the healthy functioning of any country, will not be restored and our economy will continue to suffer. It is obvious that the big corporations, the big five banks and the insurance companies run this country, if not the world, and have driven it into the ground with their insatiable greed. It seems that the only recourse WE THE PEOPLE have to take back our country and ensure that our rights are protected from the oligarchs is REVOLUTION. Otherwise, we are merely an enslaved populace.

  6. citizenaware says:

    take a stand


  7. Mario Kenny says:

    Well we know that all the people will not be living on the streets, so even if they vote to preserve the capital of the banks it will not work because all the people will not be able to be homeless, and the people will continue to litigate the banks almost forever, so, we will take back the money one way or the other. Who will it be us or them?.

    • lvent says:

      The only capital of the banks is our stolen wealth they hid in overseas bankster accounts. TheIR books are a fraud. They do not want to admit it. The more the FED feeds the banks with cheap money, the broker WE THE PEOPLE BECOME. THE BANKS ARE INSOLVENT AND THE U.S. GOVERNMENT CONTINUES TO ALLOW THE FEDERAL RESERVE TO TO FEED THE BEAST AND CREATE UNSUSTAINABLE DEBT AND POVERTY FOR MAIN STREET. TIME TO SHUT DOWN THE BIG BANKS, THEY ARE INSOLVENT AND THE FEDERAL RESERVE AND WALL STREET ARE STEALING FROM THE PEOPLE TO PROP UP THE BIG BANKS………………………………….

      • lvent says:


  8. lies all of it says:

    stupid arces

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