October 12, 2012

Retribution For Consumer

A major reason this country is in such a deep recession is banks and Wall Street concocted and sold a toxic asset called sub-prime loans, and made a substantial profit doing so. This same asset could have caused many of these financial institutions to fail except for the government bailing them out.

While the banks were bailed out very little was done to help the homeowner. The banks have been able to make substantial progress in getting on a healthier footing since the bailout. Now, per an article in the New York Times,  http://nyti.ms/OY2Of1 , it is expected that the banks will receive a large boost in their profits due to an expected refinance boom brought about by a new round of quantitative easing by the Federal Reserve .

This expected "gift" to banks should be used to pay retribution to the homeowners that were brutalized during the last decade by the very same Wall Street and banking industries. The recovery of net worth of the consumer is paramount to the recovery of the economy.

Given Romney's close ties to Wall Street this alone is a good reason to retain the current administration in the White House. Here is a plan on how to handle the retribution.... http://bit.ly/MMrfm

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