Comments on: Foreclosuregate – An Open Letter to President Obama

By: Maria

Maria — Fri, 22 Oct 2010 23:31:06 +0000

Oh, God! I was crying from joy when Obama won! So many hopes…. I pray he (maybe???) can stop to travel anywhere and as supporter for one party, return back and starts to work at last as PRESIDENT! It is only beginning – ECONOMICAL CRISIS will be deeper and uglier if NOTHING IS GOING TO BE DONE. Unfortunately, we, probably, will never have a President like Hoover, who worked 20 hours a day in those horrible 30’s…. Next President just got result, which was earned by Hoover. However, OBAMA wants to repair bridges…. If so, please, consider shelters under them for homeloosers… Thanks, OBAMA, for nothing….

By: PJDJ01

PJDJ01 — Tue, 19 Oct 2010 03:00:59 +0000

In reply to Canadian MIke. No. I suggest we go back and let capitalism prevail by getting rid of "too big to fail" and we enable state laws to work by getting the judicial process to do what it should do in protecting an individual's rights. Tough medicine, but we need it.

By: Anon

Anon — Tue, 19 Oct 2010 02:34:41 +0000

In reply to Truth.

Creating money out of thin air is perfectly legal and has always been legal. As long as people will accept it.

Now, the big mistake is that government has been giving its “stamp of approval”, in the form of the ‘legal tender’ laws etc. to these private banks creating money out of thin air — whereas if I printed my own money (and there ARE local currencies, they are legal), I would get no government backing and would have to actually develop a reputation for trustworthiness in order for people to accept it.

If the government is going to give its stamp of approval to money, it should be money created by our democratically elected government, not private bankers’ money.

What’s really not legal is stealing people’s houses.

By: Anon2010

Anon2010 — Mon, 18 Oct 2010 20:52:16 +0000

In reply to Michael.

What a ridiculously overbroad conclusion, Mike.

What I hope we can all agree on is that government needs to *regulate* the private sector to make it obey the law, and to create the legal environment where the private sector will do the right thing instead of the wrong thing.

This is quite distinct from government going into business as if it were part of the private sector — a terrible idea which gives the government the same incentives to commit fraud and perjury that the private sector already had.

Government should stick with its “core competencies”, like having honest judges instead of rocket dockets.

By: Canadian MIke

Canadian MIke — Mon, 18 Oct 2010 20:37:32 +0000

In reply to PJDJ01. Well I'm sorry to say but the communist agenda has worked on you. The free market hasn't been allowed to work, to make people like you turn on it. Do you suggest we try the bread line route? Or should you get out there and help the tea party throw out the agents of communism and socialism?

By: PJDJ01

PJDJ01 — Mon, 18 Oct 2010 20:23:49 +0000

I am absolutely depressed about all of this. First, my trust in capitalism went out the window when, in 2008, banks were declared “too big to fail.” Now, in 2010, my trust in state laws was lost when I see that banks seem to be able to declare themselves above the law. In the apparent 2 year increments, I suspect I will loose faith in physics as banks learn that the laws of science don’t apply to them. This also means that in 2014, banks will be declaring themselves above the Almighty.Its just good to know this stuff a few years in advance so I can explain it to my kids.

By: Mike from Canada

Mike from Canada — Mon, 18 Oct 2010 14:50:12 +0000

In reply to no global governance. You have the right idea, the government has been screwing the tax payer. But here is where you are wrong, military presence of the U.S forces has been responsible for the most peace and prosperity we have ever seen. I'd rather U.S bases all over the world than the Chinese, Russians, Iranians etc... What I see is a very angry American people, and if you people don't get your facts straight quick the enemy will be running our countries.

By: CatWoman in Charlotte, NC

CatWoman in Charlotte, NC — Mon, 18 Oct 2010 14:02:39 +0000

Well, as some one that did not vote for Mr. Obama or for a Democrat ever in my life (and was a mortgage industry insider for 18 years), I can’t believe that I completely agree with you, Mr. Olenick! But I do. Doesn’t mean I’ll change my party affiliation, but we can align at the very least on this.
This mortgage situation is a complete and total disaster. We have an economy that has been destroyed by the actions of this government (PAST administrations included). I am glad that I am no longer in the industry! I couldn’t face myself in the mirror if I told a client that “It’s ALWAYS a good time to buy real estate!”.
I really annoys me that people think that “the banks” own this paper. They DON”T! Freddie and Fannie (Ginnie, too) do, and who owns Freddie and Fannie? We the taxpayers do! What needs to happen besides your suggestions to Mr. Obama, is that balances need to be written down to mortgagee’s current gross income. If that means zero, then so be it. Think about it! The folks that are still current on their mortgages are the ones that are on the tax hook, so ZERO ’em out. Our taxes will do the rest! May take generations to pay off, but at least we’ll have a place to live.

By: no global governance

no global governance — Mon, 18 Oct 2010 06:47:13 +0000

The government and the banker puppet in chief wont help. All these politicians are corrupt swindlers for the banks. The government of the United States is one big corrupt fraud and criminal enterprise mafia against the citizenry of the American people and the world abroad. They always side with big business and Banks via bailouts and screw the American taxpayer. America is the most corrupt nation in the world invading other countries and getting paid twice for it in the process billing you the taxpayer for it so they can then move in and occupy them with a garrison of 50,000 storm troopers and over 800 military bases around the world like one giant game of stratego to loot these 3rd world nations of wealth and natural resources and minerals then extend their ponzi scheme to these countries by setting up one of their rip off banks and pay themselves again while setting up a criminal puppet government regimes who will obey and agree to their command of inslaving their peoples. These swindlers make money off of war and killing nothing more than murderers in suits these far more dangerous then bank robbers and serial killers you read about because they commit fraud and murder on a grand scale atrocities for money and power just total utter evil trash right out of hell. Remember this when you send your kids off to war for the Bankers their not fighting for freedom do you call all this corruption freedom?

By: Mike the Canadian

Mike the Canadian — Mon, 18 Oct 2010 01:27:57 +0000

In reply to Michael. Its unfortunate that you would insult Glenn Beck like that, as all you've done is given some quick cheap shots about his personal life. Where we can agree is government just needs to stay out of the private sector.