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An Op Ed in the NY Times: The Financial Industry is a grift
Among links to stories I wanted to talk about are: Trump’s plan to be the dictator of elections, A Times column asking Where are all the Protest songs? which reminded me that as I sculpted yesterday I was singing the Sunday school song He’s got the whole world in his hands only with the lyrics “He’s got Supreme Court in his hands”, with the refrains Clarence Thomas, Samuel Alioto, Chief Justice Roberts. And Trump’s encouraging Iranian protestors to get themselves killed on the bullshit promise to protect them like GHW Bush and the swamp Arabs of Iraq.
But I’ll stick with soaking the poor and the world of Finance. Several books I’ve been reading recently have given me more history on this. The Meachem book on Andy Jackson has explained his war with the Biddle’s over the National Bank. Jackson considered them to be building an American aristocracy. The Atkinson book on the Revolution where soldiers risked their lives for scrip promising them lands in the far west worth a fortune if they could only hold onto it for twenty years when they desperately needed it for food and clothes to stay alive between battles. Financiers bought their land rights from them and became some of the richest people in succeeding decades.
I also was reading about the year 1929 and all the investment bankers who funded a great deal of fraud that looted the savings of people who invested in shoddy stocks.
Of course we all remember 2008 and these same sorts of people encouraging mortgages on homes far above some peoples pay which cost millions of people to lose their homes to Financiers and led Americans to elect Donald Trump to clean up the swamp. His Finance man Mnuchin made a billion legally stealing people’s homes. Today Trump is making a fortune from suckers investing in his Crypto ripoff.
So, this story on last night’s PBS about 600,000 survivors of 2008 discovering that financiers secretly bought up old second mortgages for pennies from the 2008 disaster and now kicking people out of the homes they thought were theirs free and clear pissed me off to no end. This morning I was trying to think how I could get a group of socially conscious lawyers to form a group to reach such homeowners and save their homes. Many states have laws requiring these second mortgage holders to send periodic warnings about payments which would have forewarned the owners of the potential loss of their homes……… The bastards in many cases didn’t do this and good attorneys could stop the sales if the financial predators neglect was brought to light in court.
Any Attorneys interested should watch PBS News Hour | How ‘zombie mortgages’ are coming back to …
