Obama Bailed Out The Banks, But The Banks Don't Bail Out The People

George Vreeland Hill | 6/7/2001 | George Vreeland Hill

[George_Vreeland_Hill_2]

Banks, bailouts and you.

[George_Vreeland_Hill_2]

President Obama bailed out the banks. However, the banks went on to take homes from people in record numbers of foreclosures. A large number of those homes are still on the market and empty. Many are showing the affects of nonuse. The worst thing for a house is to be empty. All kinds of things can happen to it from vandallism to natural damage. In time, the property will have less value. Instead of working with those who are having financial problems due to the economy, the banks just take. The banks have been bailed out. They were helped with incredible amounts of money. Yet they will not help the people. They would rather have a house sit there and rot away instead of letting people stay in them to avoid being homeless. Where is Obama when it comes to people with little or no money? He will help the rich, but not the poor. Investment firms are buying houses at well below their values for future sales, thus making big profits. The firms visit a house and look for any and everything that needs fixing or an upgrade. Even if something is in great shape, they will say it is out of date and needs to be replaced. In the end, they get the house cheap. Why is this allowed? The rich get richer while the poor get, well, you know. Greed ruined the economy in the first place. Now it is ruining lives. The future looks scary right now. The people are accepting what is going on instead of rising up. We are being taken. Our own tax dollars are even being used against us. It is time to wake up or forever be a slave of a system that is not on your side.

George Vreeland Hill

[Huntress]

What happened to George_Vreeland_Hill_1? Did he sign up yesterday and get zotted?

[dalereed]

They need to forclose more and wipe out everyone that is squatting without paying their mortgage!!

To hell with the homeless!

Until people living on credit are wiped out the recession/depression will not end.

[ThomasThomas]

The people bailed on the banks.

[dalebert]

O could care less about little people..he is a snob and elitest. Ask not what your country can do for you but what you can do for Obama!

[television is just wrong]

what he does not get is he is not an elitist, he is the elistists useful idiot.

[Neidermeyer]

Until people living on credit are wiped out the recession/depression will not end.
******************************************
I agree , the “too big to fail” banks , living on an unlimited credit line direct to my wallet ,, must be allowed to die to save our economy.

[dalereed]

individuals living on credit have to be wiped out!

[Warlord]

Markets clear dude.

[scooby321]

Top 5 Banks in the Country only gave out 20% in Loans.

Thanks Franks -Dodd

[sten]

So 0bama ‘forced’ the banks to make loans to people on welfare...
which comes from American taxpayers (ie: me)...
when they default, the banks seize the property...
which drives up the ‘bad assests’ the banks are ‘holding’...
which results in driving the banks to the edge of... negative profits?
at which point, GWBush / 0bama step in to ‘bail-out’ the banks...
again using taxpayer (ie: my) money.

did I miss anything?

[Neidermeyer]

Hey Dale ,, (per your profile) you live on Stage Coach Rd. ?? Are you a WF employee? If so I can understand why you’re pissed ,, WF is going to fail very soon over all those trusts (actually SPV’s) where they are the “trustee” ... with no “good” delivery of mortgage or note and with WF failing in it’s most basic duty as trustee (accepting assignment , transfer or sale of the notes and mortgages into the trust) ... how many investor lawsuits do you see on your horizon?

It’s a stagecoach straight to hell... (and that applies even if you’re the Dale Reed listed in L.A. associated with JPM ,, they have all the same problems)

[SaraJohnson]

The whole problem began with the banks being forced by the government to give loans for houses to the poor. These are loans for houses they could not afford before and still can not afford today. Your proposal to give the house to the “poor” is more of the same idiocy.

Whatever the government or the banksters do, let them stop giving houses to the poor who can not afford them and who have crashed the real estate market, wiping out a lot of wealth from the middle class. We have a market flooded with houses because they gave loans to a mass of people who could not pay them back and can not purchase them now.

We are over built and the economy is not producing jobs in private enterprise so that more people could dry up the market glut.

[dalereed]

What the hell is a WF?

I’m a retired contractor and have never had any ownership of any financial institution and have never owned stock except my own corporation and never will.

[dalereed]

People using abbreviations should be executed!

[Jimmy Valentine]

The Feds are in the process of nationalizing the American Banking industry. The increased regulation/reporting will put the smaller banks out by merger or failure (over 40 closed this year alone).

The big banks will be so heavily regulated that the Feds will pick and choose who gets credit.

More European Socialism people.

[dalebert]

elitists useful idiot...true