Comments on: The Deeper Causes of the Financial Crisis – Mortgages Alone Cannot Explain It https://4closurefraud.org/2012/10/08/the-deeper-causes-of-the-financial-crisis-mortgages-alone-cannot-explain-it/ - Fighting Foreclosure Fraud BY SHARING THE KNOWLEDGE Mon, 08 Oct 2012 19:46:16 +0000 hourly 1 https://wordpress.org/?v=7.0.7 By: Danelle Hills https://4closurefraud.org/2012/10/08/the-deeper-causes-of-the-financial-crisis-mortgages-alone-cannot-explain-it/#comment-403800 Mon, 08 Oct 2012 19:46:16 +0000 https://4closurefraud.org/?p=54171#comment-403800 Several banks lowered my own credit lines as follows:

If I had a balance of $ 2500 say, with a credit line of $3000, then my credit line got lowered to $ 2200 or $ 2000 such that I was automatically over the limit already. Then I was charged overlimit fees, which accrued 21% interest, etc. and so it got harder and harder to make the payments on time. I swear I think the banks WANTED everyone to default on the cards.

]]> By: Sarah https://4closurefraud.org/2012/10/08/the-deeper-causes-of-the-financial-crisis-mortgages-alone-cannot-explain-it/#comment-403792 Mon, 08 Oct 2012 17:15:06 +0000 https://4closurefraud.org/?p=54171#comment-403792 Didn’t we have some expensive wars going on? War on Iraq, war on Afghanistan, war on terrorists, war on civil liberties, etc. I think some of these things are [hugely] expensive, but are rarely mentioned as a direct impact on our economy in “polite” mainstream news analysis. Is it taboo to mention how draining and destructive these horrible engagements have been?

Whatever you think of Iraq, we destroyed that country, and killed so many people. As we abandon Afghanistan, any number of mistakes have been made, but there is a group of leaders in this country who will never admit mistakes, or will tell us we simply don’t understand.
Tell that to the middle class who is facing profound misery, including scrambling to find places to live.

]]> By: Shelly https://4closurefraud.org/2012/10/08/the-deeper-causes-of-the-financial-crisis-mortgages-alone-cannot-explain-it/#comment-403785 Mon, 08 Oct 2012 14:47:26 +0000 https://4closurefraud.org/?p=54171#comment-403785 One of the things they don’t talk about is how before all this started how systematically they started lowering credit lines on most everyone’s credit cards . if you owed $4000 and you had a $10,000 creditline they dropped you to $4500. All that did was stop spending which caused the economy to tank. It was like a domino effect after that point. Once again it points back to the banks for helping cause this mess.

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