Disaster Looming as Republican and Tea Party Philosophies Prevail
Posted by Rick Alan RiceFeb 3
While the rich are enjoying tax breaks they have no need for and U.S. corporations are holding on to record profits, padding their accounts to ensure that this is not their rainy day, but doing little to further the employment and domestic security needs of United States citizens, word comes that we are running out of money to provide help for a growing population of homeless (see the Huffington Post on this date).
Some of this rising rate of homelessness is the result of a U.S. domestic policy that encouraged fraud in the mortgage finance industry, purposely failed to regulate those influential investment bankers and financial product developers who alone seemed to understand how to game the system, and then provided programs like the Home Affordable Modification Program (HAMP) that ushered home owners into default and out onto the streets.
I know of what I speak, as one of those people who bought a home in California – out of necessity, our previous home burned down - at just the wrong time in 2006. A mortgage broker performed a bait and switch operation, putting us in a mortgage that would need to be refinanced before the monthly payments ballooned out of practicality, and then the Bank of America advised us to stop making our mortgage payments so they could start the modification process. As many Americans have learned, this is an invitation to a maze of illogic and dual purpose that is designed to make home owners just give up at some point and let the bank take their house. It is all part of an institutionalized, systematic scam that has been perpetrated against not just the American public, but on parts of a global community of home buyers who were schooled to understand that home ownership was their best chance at growing their net worth.
In the United States, Barack Obama campaigned on protecting U.S. citizens from predatory financial industry practices, but his administration is led by the very financial experts who created and executed the fraud in the first place. And Obama has not stepped in with a backup plan, now that the foreclosure disaster in the U.S. is all too apparent. Rather, he seems oblivous to people’s plights.
The mortgage fraud has been executed against all income levels and it has impacted everyone in one way or another, none so greatly as those people who desperately need assistance, Federal aid, and are being forced out of homeless shelters swelling to capacity with the shell-shocked communities of former owners of the American Dream now disenfranchised.
Now, with the disastrously wrong headed Republicans and Tea Party candidates moving into positions of power, the U.S. is almost certainly poised to do the wrong thing, to cut funding for the homeless that is already on track to being depleted a year earlier than budgeted.
These are the grapes of wrath that have sprouted from corrput U.S. laissez faire domestic and economic policy. And this is exactly the kind of trigger that is fueling the revolution beginning to brew in the Middle East.
The profile of the U.S. population, at the lower income levels, is not different from those of the Egyptians who are fighting in the streets of Cairo as I write. – RAR
2 comments
Comment by Stew on June 30, 2011 at 12:04 pm
And I thought I was the sensible one. Thanks for setting me strghait.
Comment by Steven Ignelzi on November 6, 2011 at 11:49 pm
There is a great book called “The Genius of America” that was, finally, able to get through to me what was going on when the framers of our constitution were creating this great system for us. How the states could not agree on lunch, how were were vulnerable to losing our new country if we could not protect it. Skipping ahead, the system of checks and balances, a system designed to moderate individuals acting in their own self interest and to thrive when folks do act in their own self interest was created.
A huge problem today is that a large demographic subset of Americans has been duped into voting and acting against their own self interest and the system (Constitution and peoples rights) is/are being successfully dismantled. In essence, our country is under attack from, essentially, fascists (individuals or organization that empower business over the people) who have no interest in the values and insight that the framers of our constitution had. It will be very sad if we can not turn this around.
How can it be turned around? Hmmmmm, that’s a big problem for little old me, but I would start with a major re-invigoration of a free-press, return (with a vengeance) of real journalism. This should be paid for with by the Federal Government and no profitability should be required. After that an informed discourse could precipitate a perfect and complete rejection of the current Republican and Tea Party propaganda that is effectively enticing the masses to act against their own self interest.