http://realpropertycheck.com/latest/2010/11/escaping-the-hamp-trap-federal-judge-grants-a-restraining-order-to-stop-a-foreclosure/

In August, we warned you that some banks were misleading homeowners by telling them to stop making their full mortgage payments after submitting a HAMP (or a HARP) application. Now a federal judge granted a La Jolla homeowner by the name of Kaveh Khast his motion for a temporary restraining order blocking Washington Mutual and JPMorganChase from foreclosing on his house on the grounds that the banks misled him into defaulting on his mortgage.

Big Banks Gobble Up Tax Liens Hoping to Put More Homeowners Through Foreclosure:

http://realpropertycheck.com/latest/2010/10/banks-gobble-up-tax-liens-hoping-to-put-more-homeowners-through-foreclosure/

Homeowners who paid off their mortgage can still loose their home to foreclosure if they default on property taxes. This hurts a lot.

As if the current foreclosure mess weren’t enough, some banks have been creating front entities in which they are buying up tax liens en masse, then harass homeowners with legal fees while hoping to put them through a foreclosure and make a killing on the property.

That must have been back in the days, when the “Dollar was as good as gold”

How did Americans ever let the government turn our money over to the f*cking FedReserve?

Surely, by now, we have learned something.

Sure it was back on 9/10/01 and Rumsfeld promised to work on it starting on 9/11/01. Convenient timing, eh?

We’ve had 9+ years since to lose that much via the military spending which by all accounts since 9/11/01 has been poorly documented. I am sure that we have lost at least that much (no I dont have supporting documentation, just a feeling based upon news reports since 9/11/01 reporting fraudulent usage of funds by Halliburton and many others like Blackwater, et al.)

Anyway, why couldnt the money be paid to all mortgage holders covering up to the first $1000/month on their primary residential home mortgage. If the mortgage is smaller then it is covered in full, if it is larger, well do Americans really need that much house? It would cover all Americans for a duration of 12 months with 1 automatic 12 month renewal with the option for Congress to terminate the automatic renewals after the first 12 months with at least 3 months notice. That way it helps out home owners that need the help, other home owners to save money, and allows banks to not have their home loans go into default and thus maintain a steady money flow for a year as they get their finances in order and fixed. This way the banks would be able to meet their financial obligations just as much as home owners. Would it be expensive, yes, but the boon to this solution is that it bails out the average home owner plus the banks are given time to fix their problems. This money that the fed is printing could still be printed and affect the economy in the same manner if not better because it goes through more hands helping out more by helping the average home owner versus just helping out big banks. This solution helps smaller and medium banks too.

Per inflation, as long as the number of people in our nation continues to grow and the amount of income as it grows does not adversely affect the income of the new workers being added to the work force plus the unemployed workers, then inflationary pressures are kept at bay.

The next solution that helps to alleviate the impact of the jobless problem and still keeps the economy going is to provide each and every US citizen with a weekly amount that covers the basic necessities: food, water, sanitation, public transportation to/from work/grocery store. Notice that I am not including shelter. Shelter is something that citizens should work for and I already addresses above for those that own plus live in said primary residence.

Ignorant masses, or brainwashed? either way, god punishes it.

Printing money out of thin air is like a man with his arms chopped off trying to play basketball. You have to accept that the arms are gone, and the bleeding needs to be plugged.

Please take care of yourselves.

In effect, the Fed has been given (or ceded by Congressional inaction and Presidential inaction) a trillion+ dollar budget which it can spend any time it wants to benefit banks rather than the American taxpayer.

The US budget is, say, $3.5 trillion per year (don’t quote me). On top of that, the Fed can just unilaterally spend another trillion dollars or two, whenever it wants, on banks, by printing money.

This situation obviously violates the principle of separation of fiscal and monetary policy on which the Fed was founded. This situation lets the Fed decide how to *spend* money, not just how much money should *exist*. Like any other political institution, given the power to spend money, the Fed is going to spend it to benefit its constituency, which is the banks, not the American people.

Very worrisome is the fact that the Fed has no real restrictions on the amount of money it can spend in this way. The federal annual budget is $3.5 trillion or so, yet the Fed can massively bust this budget by spending another trillion or two any time it wants, on “quantitative easing” i.e. on a gift to large banks.

This is incredibly irresponsible. The problem in the economy is not liquidity. The economy is awash in liquidity. The problem is lack of demand and lack of jobs. A trillion dollars could be much better spent on *payroll tax reduction*, which would immediately lower the cost of American labor thus incentivizing companies to hire more employees, while also putting more money in the pockets of American consumers thus easing the financial burdens of the middle class and working Americans. A trillion dollars is what – $3000 for every man, woman and child? $5000 for every American with a paid job (sheer guess)? Imagine what a $5000 reduction in taxes this year for every American with a job, would do for the economy. Instead, the Fed members gets to spend it on their banking buddies. Obama is just letting it happen.

“The best way to rob a bank, is to own one.”

The best way to rob a Country, is for the banksters to own CONgress.