Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims

Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims

BY David Dayen

Because I’m a masochist, I’ve read as many retrospectives as I could about the 10th anniversary of the fateful failure of Lehman Brothers, the emblematic event of the financial crisis. And I can’t help but notice a gaping hole in the narratives.

I’ve heard from Lew Ranieri, the Salomon Brothers trader who invented the mortgage bond in the 1980s, and now regrets it. I’ve heard bailout architects Ben Bernanke, Hank Paulson, and Tim Geithner justify their beliefs in doing whatever it took to save the banks. I’ve endured you-are-there narratives about bankers and policymakers racing to rescue the financial system. Wonks, pundits, and reporters have all offered thoughts on the crisis’ origins, the response, and its ultimate meaning.

It seems the only people not consulted for their perspective were those most powerfully affected by the crisis’ impact—the millions of families who suffered foreclosure and eviction. Flip through the nation’s major newspapers and periodicals and you’ll strain to find a single voice of a homeowner left adrift when the housing bubble collapsed. They remain as invisible to the media and the culture as they were to policymakers in 2008. And this tragic blind spot explains nearly everything about how America conducted the bailouts, and for whose benefit.

Let me try to remedy this by introducing you to Terrie Crowley of Deerfield, Illinois. She began seeking a loan modification for her modest, 1,500 square-foot rancher in 2009. She’s been in active litigation with her mortgage company, Wells Fargo, since 2011. And she’s still fighting to keep her home. “It’s not just a $200,000 house,” Crowley said in an interview. “It’s where I work, where my family is, where we’re building memories. It’s what I worked so hard in my life to develop. I will not let somebody steal my house under those terms.”

Rest here…


8 Responses to “Retrospectives of the Financial Crisis Are Leaving Out the Most Important Part—Its Victims”
  1. Bruce R Nelson says:

    THANk ANY OF YOU FELLOW FOLKS WHO SUFFER THE SAME AS I. God Bless you for affirmation. U R ALL very special in now my prayers

    • nadianasrawi says:

      Bruce I paid @NeilGarfield Total $989. He gave me Tera but ignored consultation! I’m guessing he’s not perfect following up his paperwork
      His Reply that I didn’t pay him for a long time

  2. Bruce R nelson "geezerkatz" says:

    I AM BRUCE R NELSON, who wrote my INFLAMED bitterness of Ross Jr. Ross actually helped steal my $340k AAG Rev Mort appraised value AFTER I spent OVER $50 improvement 2010-2014 when Ross Jr/AHMSI/OCWEN/HSBC “CONSPIRED ” TO GET 12th DIST FED< PORTLAND, OR Judge Anna Brown to deny me by dismissal of me (pro se) WITH PREJUDICE and GAVE my entire un incumbered EQUITY to Ross Jr/AHMSI/OCWEN/HSBC in 2014 thus making me an instant PAUPER. I am a Nam Era DAV now surviving on $1450 SSDI and am suffering exacerbation of my Service Connected PTSD &Hearing Loss since 2014 to now 2019. Iam included in the THOUSANDS of Nam Era PTSD/Agt Org contact depressing efforts to force the VA ADMIN to HONOR its DEBT to me for myenlisted USAF service 58-60. Now 80 inApril I have reason to believe the VA ADMIN awaits my death to end and void my legal claims (2018-19 DAV deaths by suicide the highest ever, but I remainon my feet despite the $$$ damages to me) I have been retained, 20 % Contingency per RepForVets, Tampa, FL who is fighting the VA for my "CERTIFIED ADV AGE F9 APPEALS Hearing" to be held in VA WDC HQ I am told..YET now near 2 more yrs of "hurry up and wait Airman Nelson" treatment of me direct and perhaps even stalling my Legal ounsel RepForVets…wat wnd why is the VA going to do to me next? I seek ZERO PITY, ZERO CHARITY, only a "penny for the scales of JUSTICE and the VA ADM continues to STONEWALL ME & thousands of other Nam Era DAVs who likely will decease before justice is served.Nothing for my srvice nor my heirs.

    With Utmost Respect

    Bruce R Nelson (ssn 1326), 244 Springfield Rd, Vilas, NC 28692 ( I survive at 4k elev in a 30 yr old ramshackeld travel trailer 9 cheap rent. )

  3. Bruce R nelson "geezerkatz" says:

    well nothing new home in Salem OR $300k rea in the hills was STOLEN from me, all $#$) free and clear locked it retirement for this 80 yr old USAF, NAM ERA PTSD DISABLED VET BLIND LEFT EE< 80% hearing loss, with ongoing phsical issues was FORCEABLY EVICTED by none other than Trumps best money launderer.., ur CURRENT Secretray of Commerce, SHIT FK WILBUR ROSS JR< (AMERICAN HOME MORT SERV INC..the first at head of the line of crooked vile of the earth pestilence vermin right along hiw his fugitive best scammer, Bil FatFart rby who last know hightaled it to extradition free MALTA..but as worse or even worser, Cordreys shithouse treatment by hanging me over the the worst of the worst…Erbys OCWEN FINANCIAL, Ross Jrs scam pal wen Ross dumped his outhouse AHMSI into the criminal hands of OCWEN..I was among the 1st to file wih CFPB..Cordrey nailed OCWEN with a BILLION $$ penalty giving the hopless excitement that had me believing I might, after all, see some justice of which there was NONE..the Bioon was funneled into some sort of goverment scam that bled my and a gazillion $$ out of all hope and me into a pauper..Scum face Ross, I allege has been Trumps $$ Launder in Chief for the Donald thru Ross js washing machine in he offshore Carribe,,and, of course Deutche bank of which the senior Board member Ross literally controled as I come to allege. I have librled and slander this pice pf beetle dung (he ollse like a beetle dund to me, but worse. He should be suing this VA 80 yr od ptsd which I have zero $$$ t sue his beetle dung y plan was t force him to sue me…great plan because if shitfaced Ross Jr were t sueme and winm he would get $$))) but nso doing his sorry lying cheating home ruiner in chief would be exposed by media same as the nazi Docktor charactr that Sir Anthomey Hopkins starred in QB 7 (Queensbench Seven, UK. a great mobie and better read way back. I urge any one to google QB SEVEN to see how much the nazi torturer of Holocost JEWS women and dhilgren ( lijke mengler!..The nazi Docktor "WOM" the grand amount of ONE PENCE for damages to his fake repitation..that my kind of retrobution..but the chikenshi head "M McGoo" prick has no interest in exposing his sordid history upom millions of unwitting fools like me..he STOLE my equity with ZERO PROOF or EVIDENCE or ANY STANDIND as outline under TILA 1959, a bill passed to protect the likes of this old disabled vet..following his succcessful ditching of AHMSI by his like scammer in Cheif of Ocwen, Erby.

    II bed the Holy Trinity to forgive me, a practiing Episcopalian, a Lector in Holy Cross Episcopal, Valle Vrucis, NC as well as in training to become an Episcopalian Healing Prayer Minister. to please allow me that I am unable to "forgive this serious adversary on me and God knows how many others like me were screwed ut never kissed by the likes of scum like WILBUR ROSS JR< Secretary of Commerce, who now control the disaster factory CFPB,,CFPB has a thisk file on me but afterover 4 yrs of me chasing an uncatchable ghost taim…I await only my long pending Service Connected DISABILITY from a corrup VA that even after me bein "VA CERTIFIED Adv Age for my F9 Appeals hearin to be held in WDC,,,and I await now over 3, prhaps as far back as 1985 form compemsation I am OWED but the corrupt VA has its ongoing plan to futher dmage ptsd Nam Era vets like me in HOPES of us dying (taking our own lives for insufferable merciless mental anduish, th WORST thing to further harm disabled vets like me..because when we die, no matter what cause…our "cliams are not passable to our estates..CFPB, ROSS are not quite as openly BAAAD as the VA ADMIN, funded by taxpayer $$$, and the blood of hundreds of thousand of women and men vets ever since the GI Bil was managed by the Italian Mafia or the 1930s. I at least am able to deepresearch VA ADMIN and GI BILL histoire, to waay back when it all began..corruption which i have no way I can prove that.. at 80, mu "God Given Window is fading B4 my very eyes.."Come feel the Noise, girls Rock Your Boys, get WILD WILD WILD" Quiet Riot hair rock banf late 19702, early 1980s when the 25th R & R Guitarist Raby Rhoads (former the lead guitar of he street band i "managed" fom 1978, till randy left for Ozzies Blizzard of oz Tour…(google it if you are unaware) before that KJOI FM bev Hills phaise of my like I was educated US Santa Cruz & Antioch and SOLEDAD MENS PRISON Psych Counselor in Soledads Max Security the same place where Sirhan the assain of RFJK was housed followin commutation of his death penalt.. no I aint no MENSA by a way long shot..but I did not fall off a turnip trub from my then Pebble beach , CA home 6 days a week, some 1500 grs + as the lone psych counseler for soe of the biggest gaas asses house in Max at CTF Soleda. yes, my life a Kerouacian/Gumpian journey to say the very least…leading me to become an uncompebsated vitim of who I hereby re-allege is a ultra schmaart, Harvard Grad who leaned early on how to get away with criminal acts as bad as what we see of manaforts this very day…but manafort, a mere pre kider gartner compared to the likes of Wilbur ( who i do pray will ne treuly uncovered during to fall of Donald j Trump. I do hereby allege and pray ther will ener the gates of hades when St Peter slamms shut the gate when trum and Roos try to enter paradise…ummm, unh huh

    Porly writen but sincerely said by an with due respect

    Bruce r nelson a long blogger in Foreclosure Fraud and Livong lies blog site since 2009 wen i discovered Ross Jr was a an insidious but very schmaart sue me if you dare, I invite this with a glad but saddend heart..not JUST for me but for all of us who had our homes stolen with ZERO roof of any STANDING unser the maligned consumar law of 1959 Federal Truth in Lendind act by Congress..THE LAW so horribly abused bt Ross et al. otherwise have a great life ebery one. ****FIN****

    • nadianasrawi says:

      Bruce Nelson! Oh wow I’m speechless of all yr courageous!!!

      • nadianasrawi says:

        Some one need to blow up that corrupt system they r terrorist without gun needed took our life by sterling our home of vet and hard labor of innocent people from the most trusted Client! No more brave leader with principle they crook they think they smart by steeling our life no morality what’s goes around comes right back around! Best of the best wishes Bruce (I work for Antiochian church) never thought ever will come to me to be cheated by cunning cunniever @WellsFargo chasing after penny & dimes elderly abuser fragile abuser mine is cancer survivor vet run away of communist minded his Own business turned weeds to fruitable trees vegetables little farm w hen birds duck with reach of click on WFB screen turned our home f prayer TLC Robbery den then highering beasts cut which ever trees leave which ever like heartless no blood pumping I have several income we had roomate helping students expenses $500 for mortgage AND the result IS I’m not QUAlified trickery sneaky my lawyer was predator has no name in court cfpb at D end don’t want to harras WFB any way good luck for all of us

  4. Tim says:

    I feel same, after 5 years of fighting, chasing, 40,000 in lawyer fees, divorce it became more than money!! I hate these banks and they’re reasonings and what they did!!!!!!! And then saved themselves and left us hanging. BOA sent me a 300 dollar check haha….deep anger indeed. I finally received a modification after years of the sword hanging over my head. I feel damaged, a family home, memories all down drain.

    • Bruce R nelson "geezerkatz" says:

      METOO< Tim, may God Cless you…Geezerkatz (Buce Nelson) at least you had the $$ to blow with saly but failed..Your in Cgrist, bruce

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