In general I am not a fan of protesting. Perhaps it is because I do not like camping andÂ I lack all artistic skill needed to draw a motivational sign.Â Perhaps it is because in generalÂ I do not feel it accomplishes anything.Â In the Occupy MovementÂ I do believe it is working.Â Â When was the last time we saw this much interest in politics? It is great! Â I feel as though our current economic crisis is very Alice and Wonderland like and finally The Red Queen is on the chopping block.
I realize the movement has many messages. Some which I do not agree with.Â I am however so glad that people are finally being outraged by the abuses allowed and encouraged by the current administration.Â This housing crisis has been nothing but a debacle with the large institutions profiting while doing nothing but hurting the everyday homeowner.Â The modification programs have been huge failures.Â They are failures because in many cases (aka most)Â banks make more money by foreclosing.Â Â The programs have been set up to protect the institutions while failing the people all under the guise of "itâ€™s to help homeowners."Â It is a mess.Â A giant embarrassing mess and we need better than this.
Our current administration's solution to the crisis was/is to roll out mortgage programs that even a first year loan officer can tell you have enough holes to drain pasta andÂ by handing money hand over fist toÂ institutions in the hopes they will do the right thing.Â Banks are businesses, you give them money with limited rules and you are surprised they useÂ it for their own benefit?Â Really?Â Really?? I do not have a MBA but...this seems obvious.Â Â
The administration hasÂ also pledged to reform the mortgage industry. Although in truth they are only reforming the less affluent part. They have imposed huge costs on smaller mortgage companiesÂ and increased the amount of licensing, educationÂ and security etc...Â But only for non bank lenders.Â Â It is great to increase the education, licensing and securityÂ requirements but it should also apply toÂ all lenders right?Â Right?? Oh Wait the smaller mortgage companies are not in the 1%.Â Oops my bad, we should just sit back and take our fate. The lenders at banks are clearly more ethical and educated and better citizens because they work for a bank.Â Right.Â Oh, and all this regulation has done is put a bunch of the smaller companies out of business which has further increased banks market shares in home loans thus domination. Â
There is a large amount ofÂ propaganda being spewed right nowÂ and the fact that people have realized this and are protesting is great.Â I truly hope it gets the attention of the large institutions and the administration to make some real changes.Â The time of dusting off old broken programs and hobbling them together again saying it is something new has passed.Â There is a way to fix this; we just need the common man's interests or maybe even the middle classes to come first for once.Â It would be refreshing forÂ a change.Â I believe change was promised.Â Time to give us some good change instead of the rubbish that has been served up for the last few years.
Hmm look at that. I may need to put together a sign:)Â