The Occupy Wall Street protesters’ movement seems to be gaining steam and momentum but what do they want to accomplish?
How about telling Wall Street to stop meddling with our housing finances? Furthermore, the angry protesters that occupied Wall Street seemed to be only able to focus of what have been stolen but they are definitely out of touch on what is about to be stolen again by the very same thieves while they are risking their lives physically protesting to on Wall Street.
First, the best economic solutions and/or new economic systems could be totally ruined if left in the wrong hands again. We need more people’s active participation and the support of PeoplesAlly Foundation to further our causes of FARJHO and SwapRent for the benefits of the people on Main Street. Let’s work together to keep Wall Street big banks’ dirty fingers off these new democratic solutions.
Second, we will need to prevent another financial heist like those happened in 2008 from happening again. In Russia and other third world countries the oligarchs have to make some special efforts to steal the national assets behind closed doors. It would actually be a lot of hard work for them and perhaps a few investigative journalists would have to be poisoned or murdered along the way. Here in America, they do it right in the open by spinning the media with wrong information and manipulating the public sentiment with political influence. They did it times and again right in front of our eyes and there was not a thing that we, the folks on Main Street could do about it. The case in point is FHFA’s current plan to sell the REOs (foreclosed homes) that they own to privileged private sector firms.
The distrust of the federal government’s housing plans is not unwarranted. Remember when the financial crisis first emerged in 2008 and the federal government came up with their first solution that left many of us flabbergasted? While people are losing homes and jobs left and right everywhere, the first thing they did was to come up with a plan to use tax payer’s money to give more than one thousand dollars to the mortgage servicing firms owned by their crony friends for each of the loan mods that they worked on? (Goldman Sachs used to own a major mortgage servicing firm Litton Loan Servicing and only sold it in June this year after many robo-signing scandals.)
You may also have seen how “housing experts” or securities analysts from the investment banks such as Morgan Stanley etc. keep spinning the story on TV and in the press media that the federal government has no experience in running the renting business as the sole reason why GSEs/FHA should sell their REOs to the private sector firms in bulk at discounted prices. It would be another big feast, if not steal, for their crony friends in Washington DC and on Wall Street again while being empowered by the almost zero cost of fund to build up their war chest, thanks to Bernanke and the Federal Reserve Board. It is like hitting another Super Jackpot again!
Let’s hope the cronies would not get it their way to buy in bulk at deep discount our national assets owned by the GSEs/FHA again. If they get it their way, they would become the new serfdom landlords to millions of working class people on Main Street. It will turn America into an oligarch state without a middle class. Can you imagine United States of America is about to become a nation of renters to a few handful of oligarchs!
The availability of the information of FARJHO and the services to the GSEs/FHA may have a chance to stop these pending thefts if more information is made public and understood properly by people on Main Street on what kind of financial heist is about to happen all over again.
Don’t wait to protest after it has happened again. Protest to stop it from happening at all!