The Home Foreclosure Engine Steams Onward
In a time where Wall Street continues to pay record bonuses for completely screwing up the economy and continuing schemes that are continuing to screw up the economy, home foreclosures continue on their continuing record pace. Just wondering how many times I can say continue in a grammatically correct sentence.
We highlighted Alan Blinder's recommendation of reinstituting the HOLC as a possible measure to deal with the foreclosure problem before the economy fell off of a cliff. In hindsight, that still remains a substantially superior solution. But politicians used taxpayer money to bail out every bank on Wall Street so these firms could continue their heist perpetuated on the American people. All while the American people rot. Wall Street is most assuredly due a future collapse. We'll talk more about the specifics behind this statement in future posts but needless to say, I remain confident Wall Street is far from out of the woods given I have made this statement at least half a dozen times in the last month.
We highlighted Alan Blinder's recommendation of reinstituting the HOLC as a possible measure to deal with the foreclosure problem before the economy fell off of a cliff. In hindsight, that still remains a substantially superior solution. But politicians used taxpayer money to bail out every bank on Wall Street so these firms could continue their heist perpetuated on the American people. All while the American people rot. Wall Street is most assuredly due a future collapse. We'll talk more about the specifics behind this statement in future posts but needless to say, I remain confident Wall Street is far from out of the woods given I have made this statement at least half a dozen times in the last month.
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