The VALUE of homes in the USA are in limbo. The PRIVATE companies that were suppose to be TRUSTWORTHY have destroyed the American Dream. What are people thinking? Stop. Remember who propagated this mess. Seriously. Trust them? Why? There is no reason to. The entire circumstances surrounding the Housing BUBBLE is a disater. It is reeking havoc in people's lives.
None of this should be happening. None of it. People are being thrown out of their homes and local economies are being put in disarray. This is happening because Wall Street has bungled the trust the people put in them. It is only right they freeze the foreclosures until they 'fix it.' But, the entire dynamics now surrouding the value of homes, the freeze itself is putting more risk and uncertainty into the housing market.
It is a disaster. Homes are 'equity' in citizens lives. They borrow agaisnt that equity to pay bills when emergencies happen, to pay for tuition for sons and daugthers and to plan for the future. Do you know how this is upended the lives of our citizens?
Trust, Wall Street with our aged citizens? No. Never. There has never been a good track record enough by Wall Street to place that level of trust in them. Ever. They have repeatedly abused the trust teh people of the USA has placed in them.
Foreclosure freeze taking a toll on local real estate market (click title to entry - thank you)
Updated: Oct 15, 2010 4:48 PM EDT
Las Vegas, NV (KTNV) – The struggling economy and floundering housing market are two issues at the forefront of the upcoming election as some of the nation's biggest banks have become the target of investigations in almost 50 states.
After being accused of mishandling the foreclosure of thousands of homes, some banks have put a hold on the process until they can figure out the root of the problem. This, however, has taken a negative toll on the real estate market.
Las Vegas has the highest number of foreclosures in the country. But by freezing most of them, banks are leaving homebuyers and realtors out in the cold.
"There might be a hold on some of these properties to where we're not going to be able to put an offer on those properties because there's going to be a standstill," says Cathy Rojas. "Those are the ones they're going to have to go back, look at the paperwork, make sure they're all correct before they proceed."
But realtors allege that this foreclosure freeze is putting more stress on an already fragile housing market.
"With the freeze, no properties, that doesn't help."
Financial experts agree that this is adding more uncertainty....
Friday, October 15, 2010
Posted by The Revolt and Revolting at 6:36 PM
It is difficult to call a woman a lady when she practices emasculinating language for the purpose of political intimidation. Angle has no real answers for the country's concerns, so she covers her lack of ability by using emasculinating language. "Tough Girl."
...The debate moderator, (click title to entry - thank you) Mitch Fox, asked Angle why she has changed her wording on Social Security from 'privatize' to 'personalize.' Angle changed her term because she says SS is a combination of private and public. She used the example of Harry Reid having a Thrift Savings Account. Basically, Angle advocates investing SS money in the stock market. Reid countered with common sense; both England and Chili depleted their funds by gambling on the stock market....
Look, the Republicans want to get their hands on the funds that are in Social Security. She used the word 'personal' to attempt to aim differently at 'soft targets.'
The Social Security Trust Fund is no different to Republicans than the privatizing of Medicare. Every month huge amounts of money is transfered from the USA Treasury to private entities that sell a bill of goods to the retired / handicapped / aged of this country in the form of Medicare Advantage.
For a long time now, Medicare Advantage has been coveted by Wall Street as a 'cash cow' when payment for insurance comes directly from the USA Treasury. The problem that when a government function/TRUST FUND is privatized there is a lot of risk assigned to those monies that doesn't exist when it remains in the hands of the government.
Wall Street is not trustworthy. We know tht for a fact. It is about risk and that is not what the aged of our society needs to deal with in the sunset years of their lives. CURRENTLY, if a company managing Medicare benefits privately goes bankrupt due to poor management, corruption such as fraud or embezzelment or any other White Collar Crime the people that are insured LOSE their benefits and are libable for their medical costs as if they were not insured at all.
Just because an insurance program is called Medicare Advantage it doesn't mean it is as secure as the MEdicare administered by the sovereign treasury of the USA. Private companies go bankrupt. They practice corruption and often and I do mean often they have some of the poorest management that exists. I point ot the 2008 global financial collapse and the BP Oil Disaster. In both instances the problem was exploitive management with poor practices seeking only high bonuses.
The 'idea' of privatizing Social Security is no mystery. It is the same exact dynamic as the privatizing of Medicare. The privatizing takes a 'solid asset' for the aged and places it in the hands of 'risky business.' If Social Security is privatized the same risk, if not higher, takes 'rock solid' monthly payments to the aged in our country and places them in a category that should be completely unacceptable to all our people.
Wall Street wants it. Of course they do. They wanted Medicare as well. They still want Medicare back because Republican running for office is promising to recall the new Health Care Law. That shoudl be no surprise to anyone. The private insurance companies are cronies to Republicans seeking reversal of Medicare to the administration of the government. A half a billion per year a lot of money to put back n the USA Treasury rather than in the hands of wealth merchants.
Every candidate that states they are going to attempt to repeal the Health Care Reform laws has to be held in ridicule for backing cronies over citizens. It is the same for the 'idea' of privatizing Social Security. Every candidate stating they will be attempting to privatize Social Security should be ridiculed for backing cronies rather than the well being of Americans.
There is no need to privatize Social Secutity. The law allows all kinds of personal investment in 401K or Roth IRAs and that is plenty an opportunity to save for retirement. But, those investment funds have to be viewed realistically. Their dividends are based on risk. There is always a chance the investors (Because that is what a citizen is when subscribing to these programs.) can loss every dime they invested. 401Ks are nice due to the fact they are matching funds, but, that isn't money that should be considered as 'free' money to be played on the open market. Those are monies given to employees as part of their benefit package and are earned for the work they do.
Candidates like Sharon Angle are speaking through desperation to attempt to reach a segment of the populous that admire 'abusive' verbal attacks. I would hope Americans take their vote seriously and do not vote for verbally abusive candidates. That is not a reason for admiring a candidate. I won't want my daughters speaking in such a manner. I would expect any daughter of mine to conduct herself with dignity and able to speak intelligently about what is best for the people of the country and have plans to provide a clear path to solving problems rather than creating them,
Posted by The Revolt and Revolting at 5:39 PM