Failure to Recover: The State of Housing Markets, Mortgage Servicing Practices, and Foreclosures
March 19, 2012
Chairman’s Preview Statement
Field Hearing: Brooklyn Borough Hall, located at 209 Joralemon Street, Brooklyn, NY
Witnesses
Panel 1
Mr. Morris Morgan (testimony)
Deputy Comptroller for Large Bank Supervision
Office of the Comptroller of the Currency
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Ms. Suzanne G. Killian(testimony)
Senior Associate Director for the Division of Consumer and Community Affairs
Federal Reserve System
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Mr. Alfred M. Pollard (testimony)
General Counsel
Federal Housing Finance Agency
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Ms. Sheila Sellers(testimony)
National Mortgage Outreach Executive
Bank of America
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Mr. Eric J. Schuppenhauer(testimony)
Senior Vice President, Mortgage Banking – Core Servicing and Borrower Assistance Executive
JPMorgan Chase Bank, NA
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Mr. Joe Ohayon(testimony)
Senior Vice President, Community Relations
Wells Fargo Home Mortgage
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The truth is we are never supposed to recover from this…I read that the true unemployment numbers are worse than the last manufactured Great Depression and the fraudclosure numbers coming down the pipeline are going to be truly staggering..the truth is being hidden from the people. America is being stolen oh so sneaky and strategically that what Thomas Jefferson warned would be the result of the banksters taking over our currency is almost like it was scripted..Thomas Jefferson warned that….. we would all wake up one day and be broke and homeless. The truth is that this manufactured event is going to come like a thief in the night and our National Sovereignty will be gone…and replaced by the unspeakable if the people do not stop participating in their own demise…I am bewildered at how so many are unaware of the biggest financial coup de tat of our wealth in history that has already occurred and how easily these elite and their friends are stealing America…..Look around America…every neighborhood looks the same…large multinational corps own almost everything..there are clusters of the same banks, Walgreens, CVS.(no small pharmacies exist anymore in the Chicagoland area), and fast food joints everywhere that you look.. America has been bought out and has lost her identity to the Corporate Oligarchy and their owners.
@ Ivent – but the people just do not want to listen!!! They are soooo consumed with material things (boats, cars, electronics, the best of the best) that they actually feel that “life is good to me”. They cannot see the forest for the trees. I continually post the happenings on Facebook amid all the posts of “look at my new bed” or “loved our vacation in the islands” or “take a gander at the new house we put an offer on”. Everything, everything we buy comes from outside the US and that means more and more people here are losing jobs….becoming closer and closer to poverty. If only they could channel that energy for buying a new car into seeking the truth with action to preserve their liberty and freedoms just think how much we could accomplish. But no, they are more content with stacking up the material which, by the way, they can’t take with them when they leave this world. The real beauty in life is not what you can amass but living life under God’s plan. Oh, so many are losing out. When I was growing up in the 50’s they say life was much simpler….it was! As technology grew so did the greed!!!
I agree Bobbi.! It is awful how people just live for the moment and just settle for worrying about tomorrow ..for tomorrow…Tomorrow is here and now it is time to stop putting it off … What too many people consider to be the important things in life will be gone if they dont wake up..It does not help that the moral code is very weak. Society in general is lost.