Home > Life, Politics > Are you a victim of bad banking ?

Are you a victim of bad banking ?

September 7, 2011 Leave a comment Go to comments

I have written blogs about the stubbornness of the human nature. it would seem that this stubborn attitude runs deep. For the past few decades banks and companies have made serious errors in their banking practice that have cased them to fail. Remember Enron, millions lost their retirements on that scam.   Taxpayers were required to pay for this criminal action. While Enron was a power company this kind of criminal action happens in smaller banks all the time.

Enron, Theft fo peoples retirement

Same crooks are in the same game

In most cases the smaller banks go begging to the larger banks for bail out, buy off the loss/risk from the small bank, like a neighborhood loan. But what happens when the big bank fails and fails because of criminal actions, and you have a loan with one of those banks?

Here are some facts that you should know, US Fed Chairman Bernanke said in his most recent congressional testimony on March 1 that the “risk of deflation has become negligible.” but Qe2 has not worked. Bernanke knew in 1988 that quantitative easing doesn’t work , now with evidence in hand he still recommends a QE3. Banking failures got so bad that from march -Dec 2008 the Fed Bank lent $855 billion tax dollars over the time frame for a rate as low as 0.01% to “foreign banks” while taxpayers were paying 8-30%. here is a list of who borrowed and how much.

Banks that had to borrow money from taxpayers

This did not stop here, it went on. More loans were made more deals were complete, all with the assurance that the “Taxpayers” would bail the banks out. It’s a no loose proposition. The

Fed’s second round of “quantitative easing” QE2 involved $600 billion tax dollars created with a computer keystroke. Whats important to understand is that the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money remains in bank reserve accounts collecting interest while they go after payments from home owners, forcing them to foreclose and then selling the same property for less and fund another loan. The Banks that caused this huge crash did so with improper records and through cheating. In most cases they mislead the home owner.

If you think that you have been a victim of bad banking or predatory lending practices or are currently facing a foreclosure, contact this group today and “learn” how you can take action. If you want to learn on your own then go to this site RightToCancel.com

If you are of the mind that you should not question the Banks then consider this little fact that is not a coincidence, Banks now are sitting on $1.6 trillion in profits in their vaults, $1.6 trillion is also the size of the federal deficit – a deficit so large that some members of Congress were threatening to force a default on the national debt if it wasn’t corrected soon. That deficit is affecting job growth which affects your local town. The banks have shown that they are not willing to spend that money but are willing to pursue loans that may already have been paid off.

More facts to consider:

On November 25, 2008 the FED purchase$100 Billion in government-sponsored enterprises (GSE) direct obligations(Fannie Mae, Freddie Mac), $500 billion in mortgage-backed securities (MBS). most likely your mortgage was part of the purchase .

Bottom line is this, banks have done things wrong for the longest time. Since the law / government will not defend your interest its time that you defend your interest. If you are considering refinancing check your title first contact RTC group today and get a home-owner DIY kit that will help you check your current title and loan status before you take action to refinance.

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  1. November 22, 2014 at 3:22 am

    Greetings! I’ve been following your site for some time now and finally got the courage to go ahead
    and give you a shout out from Atascocita Tx!
    Just wanted to mention keep up the fantastic job!

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