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Letter from the Heartland

By dlindorff - Posted on 05 October 2010

By Michael Caddell

It’s too late for Mr. Goldsmith, for former Kansas City, KS Police Detective Max Seifert and hundreds of thousands.

This past week Bank of America and several other giant banks are halting foreclosures across many states.

But we have already witnessed our courts turned into vast paper mills churning out foreclosures and lawsuits from credit card companies, the public servants turned into collection agencies for the easy credit vultures preying on the gullible, the desperate and the stupidly poor and greedy--and nobody’s talking about people getting back homes already stolen by those corrupt operations. Ultimately, all we’ve gotten has been a national circular firing squad, without competent leadership or investigators. The institutions once used to punish the violent, or to protect the vulnerable, instead have become a gargantuan legal hammer smashing the lives of millions into what may be years of grinding of poverty.

The explosive revelations on Sept. 30th by Washington Post reporter Ariana Eujung Cha about monster bank JP Morgan, headlined JP Morgan to halt foreclosures, comes too little and too late for those already jettisoned from homes for late payments, bankruptcy, job losses or just plain tough times.

Certainly our elected government leaders could have stopped this national madness, and could long ago have started investigating the lenders and their agents who approved and profited from issuing shady loans and then foreclosing on them.

The Post’s Cha writes:

The bank's decision will affect 56,000 borrowers in 23 states where allegations of forged documents and signatures and other similar problems are being used to try to overturn court-ordered evictions. Yet the impact may be much broader, given J.P. Morgan's stature in the industry. If other banks adopt the same approach, the foreclosure process in many parts of the country will grind to a halt.

It should have been halted by our compromised elected government leaders, many of whom benefited from, or helped their buddies in the banks to profit from rigging this “real estate boom” and resulting bubble years ago. We’ve got wars to fight across the world, and 53 cents of every federal tax dollar goes to pay for a bloated and festering Department of Defense, and yet the billionaires who call themselves “libertarians” want to privatize Social Security, Medicare, etc. There’s always more money to make off the misery of old age and sickness, all the while smearing the Social Security and Medicare, which we all paid into over the years, as “entitlements.” ...

For the rest of this article by Kansas prairie radical MICHAEL CADDELL in ThisCantBeHappening!, the new independent, journalist-run online newspaper, please go to: ThisCantBeHappening!


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