This is such BS. We tried so hard to litigate this point (see my comments), but nobody got it and the court didnt care. Ive tried so hard to let it go, but its tough when I read these posts, and the BS continues. Weve moved on -- literally -- but our anger about the banks and their strawmen and complicity our state and federal government continues to irk me, the more I read about it now that our case is SOL. And this isnt a wawa, I decided not to pay my mortgage because nobody else is. We liquidated EVERYTHING to make it work, but the bank wasnt interested because they got the Full Monty after they securitized and sold our loan; matter of fact, they got paid at least 3 times over, if not more, but thats a post for another day. Gone are the days of Its a Wonderful Life where the bank actually has skin in the game when it comes to lending. For decades now, financial institutions and other creditors have been securitizing accounts receivable by selling the $$ at a discount to firms that are eager to buy the debt and then take over the collection efforts. As US citizens, its critical that we educate ourselves as to whats happening, rather than relying on the lamestream media, which is fed by its advertisers, which include the banks and other financial institutions. If you want the truth, you have to seek it out. Just because its on the news or in the papers doesnt make it so. Furthermore, if youre one of the lucky ones who have been able to get by unscathed and thus assume that those who havent are deadbeats who get what they deserve -- well, I certainly hope for you and your familys sake that you dont lose your job, your pension, your health, or anything else which endangers your financial situation. It can happen to anyone. It happened to us and countless others. It can happen to you too. Nobody is exempt as to whats taking place in todays times. I have friends and former colleagues who worked at big financial institutions for decades and ended up with nothing because they were laid off and their pensions were liquidated and their self-funded retirement plans took a big nose dive because they thought their money was safe. The same thing goes for people who trusted advisers like Madoff to handle their money, only to find out there was nothing left. In todays world, its critical that we educate ourselves first and foremost before we trust anyone with our money, including our employers and our advisors. Caveat emptor is alive and well, just like it was during the 20th Century Great Depression; No matter what lamestream media labels are put on this Depression -- the Great Recession, etc. -- its just a smokescreen to try to foster consumer confidence -- as if most of us have $ to consume right now, given such uncertainty -- not only in the US but also globally, because we are, nor have we been for quite some time now, an insular economy; i.e. domestic, offshore, and international, which is so last century. Whether its a US financial crisis, Asia, Europe, the financial ramifications are the same for all of us. Heres my point: As US and global citizens, we must educate ourselves as to whats real and whats not, rather than trusting a person or entity to think for us, because its at our peril. In our country, most of our population, and us, are aging; therefore, wee must govern ourselves accordingly if we want to protect the $$ we so dearly paid to accumulate and planned to have for retirement, assuming that we have anything left at this point and, if not, to figure out a decent exit strategy for retirement, other than the inevitable -- on a long enough timeline, we all go back to zero, in one way or another.
Posted on: Tue, 03 Dec 2013 07:10:48 +0000
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