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From Shay's Rebellion to Fight Club, sometimes the tree of liberty has to be refreshed with a little blood. Sometimes bleeding is the only way to remind people that they are alive.
1 in 501 homes in America are in some state of foreclosure. The 1 in 501 homes are only the newest set of foreclosures that have happened over the past two years. Millions of Americans are becoming homeless, poor, and riddled with bad credit, because of predatory lending and a failing economy.
The federal government has not noticed the trials and tribulations faced by the majority of their constituents. The concern in the federal government seems to extend is to the banks that have fleeced and raped the American people. Bear Stearns was bailed out with billions of dollars, now Indy Mac has been taken over by the government. Fannie Mae and Freddie Mac are in major trouble. Money is being thrown at these institutions that acted in not only an immoral way, but now it seems in illegal ways as well. 150 banks may go under and again more money is thrown at these banks. Yet, people are still facing homelessness.
This is our America, this is our government, awarding the wicked and punishing the victim. If we lived in a young America the people would have not put up with this type of corporate back scratching and blatant disregard for the real problems of the people. People would have exercised two rights that make sure we the people can keep our government in check; the right to bear arms, and the right of freedom of expression. In other words there would have been a rebellion.
Let us go back to January 1787 when Daniel Shay, an ex-Revolutionary War soldier decided that the abuses of the Massachusetts government which led to foreclosures of farms were not to be tolerated. Shay’s Rebellion attempted to stop foreclosures by preventing courts from sitting by force. Although the attempt failed after a private militia group broke up the rebellion, it brought much attention to the failings of the government at the time. That same year American Constitution was written to replace the weak Articles of Confederation.
It can be amusing to see the responses of the founding fathers had to Shay’s Rebellion. George Washington is quoted as saying, “For God’s sake, if they have real grievances, redress them; if they have not, employ the force of government against them at once.” Obviously the governor of Massachusetts did not feel that the ex-Revolutionary war soldiers that went in debt from fighting in the war for independence have any reason to complain. Thomas Jefferson wrote a famous reply that many subverts and dissidents cling to for justification of their views. “A little rebellion now and then is a good thing. The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” The question that remains is that did Thomas Jefferson believe these men were patriots, or tyrants?
Many people facing foreclosures today, some soldiers who have lost everything fighting in Iraq, would say that the rebels had the right idea. Will the government today have the same response if there were mass protests across the country? Would the American people who have been suppressed, held down, and trampled on by power hungry government officials be dispersed and forced to flee to neighboring countries?
When news reporters bring up the subject of the personal suffering of homeowners, talking heads discount them as either uneducated and poor, or irresponsible. They say the economy is fine, although we have consistently lost jobs in the recent economy, although home equity is almost destroyed, although underemployment has risen significantly. How these men and women can appear on national television and insult hardworking men and women without reproach shows just how out of touch the upper class is with the majority of America; and how powerless people are to even challenge so-called experts let alone the power wielding bureaucrats.
It is time for the tree of liberty to be refreshed, perhaps not in blood, but with the sweat, tears, and shame of the out of touch representatives, the elite who hold the rest of America by the strings. It is time for the suits on the hill to be reminded that there are real people, and real constituents; with lives, families, children, and concerns that must be taken into account. Despite the spin of the media and the talking heads, the majority of people who are in foreclosure did not make an idiotic choice. They lost thier jobs, or were manipulated by loan sharks. Many did not have adjustable rates and were caught in a scam, or rising taxes, or the addition of forcplaced private mortgage insurance because they did not have 20 percent of thier house already paid for. Yes, somehow charging upwards of $100 dollars or more a month for insurance the bank takes out on your loan is supposed to help you pay for it a bit easier or make your payments more secure. Now the FDIC has placed restriction on lending that will make it impossible for anyone to own thier own house again.
In the late 1990’s when credit card companies were being scrutinized as people began to feel the crunch of heavy credit card interest rates. Hollywood tackled the credit card problem in response to this new found dissatisfaction. The move Fight Club was at first appeared as a simple psychological drama. The ending though was inspiring for people who wanted to “stick it to the man,” without extreme violence. In the middle of the night the Fight Club bombed major credit card buildings, wiping out information on the debt of many.
The first rule of Fight Club, do not talk about Fight Club. Anyone who is planning on taking on the Feds whether it is by the violent means of the movie, but preferably through protest, would do well not to let the plans slip out till everything is set. If Americans were to unite against the government officials, many of who are American royalty with family trees branching within the government for generations, they would meet opposition that is clearly sophisticated, well funded, and backed by the most powerful military in the world. That is unless the grassroots organization could convince the military that it is in their best interest to support those trying to subvert the corrupt government.
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Nicely done!
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Thank you Susan.
I was reading about Shay's Rebellion the other day for a part of my class and the irony was so thick I had to do some kind of story about it! =)
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@ Samantha A. Torrence
Thank you Susan.
I was reading about Shay's Rebellion the other day for a part of my class and the irony was so thick I had to do some kind of story about it! =)
You definitely showed the similarities in a wonderful manner.
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Sue, it's up on your blog, may want to fix links.
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I hate to say it but the government would use the military like they do in other countries to kill protesters. It might happen sometime and it's going to be a bloodbath. A second American Revolution, if you will! It probably won't occur unless things get much worse than now.
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@ Dave G. (TruthMan)
I hate to say it but the government would use the military like they do in other countries to kill protesters. It might happen sometime and it's going to be a bloodbath. A second American Revolution, if you will! It probably won't occur unless things get much worse than now.
I would agree, but you are underestimating the brains of our military members. I doubt they will participate in the killing of protestors when many of them are in the same position and just as disgruntled. Beleive me I know plenty who are going through the same thing and do no like Congress or what the Administration is doing about it. In this case, I think that much like in Shay's Rebellion, there won't be any military to break up the rebellion and a privately funded one would have to be formed. Hessians anyone?
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Very good piece Sam :)
I do have one observation / objection though ...
... Yes, somehow charging upwards of $100 dollars or more a month for insurance the bank takes out on your loan is supposed to help you pay for it a bit easier or make your payments more secure. Now the FDIC has placed restriction on lending that will make it impossible for anyone to own thier own house again.
The way I read this is that you've drawn some sort of cause / effect between mortgage insurance and future inability to secure a mortgage. I have to admit that the whole U.S. financial industry confuses the crap out of me.
However, I know that a similar restriction here, in Canada, has had exactly the opposite effect. One of the reasons that we weren't hit so terribly by the bursting of the real estate bubble is because we've always had the requirement that less than 20% (at one time 25%) deposit forced the home-owner to pay mortgage insurance premiums; our finance industry has also always required proof of income and a fairly stringent adherence to the 30% rule (no more than 30% of income spent on housing).
The result has been two-fold: 1) completely unqualified applicants simply do not get bank mortgages, therefore any defaults are the result of other economic forces; 2) because every step of the mortgage application is regulated—pre-approval, credit worthiness, home inspection / appraisal, final sale—real estate values are, for the most part, in line with the actual value of the property rather than what the seller thinks it will get.
I definitely agree that the majority of the crisis is due to criminal and disgusting practices on the part of the lenders. However, you have to admit that there was an unacceptable level of "flipping" in the hopes that real estate values would continue to climb as each new buyer "made improvements" and resold the properties. Just think back to 2007 and the absolute glut of shows devoted to the fast cash of flipping.
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@ Samantha A. Torrence
Sue, it's up on your blog, may want to fix links.
Heading in to do that now, thanks!
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Sykos, there have been some people who were hit with force placed insurance months after paying on thier mortgage. They were not prepared budget wise for thier payment to raise around $100 a month and have caused some people to fall behind.
I just don't understand how banks think making someone else pay for thier insurance makes the loan anymore secure? If someone has a budget that is thier budget. Putting more fees on can lead homeowners into trouble. To put it in perspective that woudl be like my husband making them pay for his life insurance because if he dies it would cover the costs of the loan. It is one of those things that is just wrong.
Alot of people bought homes because it was the same exact amount as to rent, then when the rates raised, and value slipped, inflation hit, and job hours were cut, the were screwed. Either renting or buying they would be going homeless right now because many people did budget.
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Hey Sam :)
Like I said, your financial system mystifies the crap out of me. I used to work for one of our Big 5 banks; part of my later responsibilities involved CAD / USD exchange transfers at the bank to bank level.
@ Samantha A. Torrence
Sykos, there have been some people who were hit with force placed insurance months after paying on thier mortgage. They were not prepared budget wise for thier payment to raise around $100 a month and have caused some people to fall behind.
Ahh .... up here, the mortgage insurance is placed at the very beginning of the mortgage and automatic if you don't have the 20% down payment. It's included in the monthly amount that you agree to. We also don't have odd arrangements like ARMs and 80 / 20s, which I agree were yet more scams created by the banks to lure consumers in.
I just don't understand how banks think making someone else pay for thier insurance makes the loan anymore secure? If someone has a budget that is thier budget. Putting more fees on can lead homeowners into trouble. To put it in perspective that woudl be like my husband making them pay for his life insurance because if he dies it would cover the costs of the loan. It is one of those things that is just wrong.
Again, up here the insurance is provided (and guaranteed) by our central bank. If a mortgage goes into default, the insurance helps to pay the bank for any loss they incur between the mortgage value and what they sell the property for. It's one way of lowering the overall interest rate that's offered on mortgages. Without this insurance for low-deposit buyers, all mortgage holders would pay higher interest. Obviously this works differently down there :(
Alot of people bought homes because it was the same exact amount as to rent, then when the rates raised, and value slipped, inflation hit, and job hours were cut, the were screwed. Either renting or buying they would be going homeless right now because many people did budget.
Agreed. And those people bought into the sales pitch that when interest rates dropped, so would their payments. The reality is that very few companies / industries drop rates, as that's where they make their money. Has anyone noticed gas prices dropping at the pump even though a barrel of oil is $15 cheaper than it was last week?
I truly hope you didn't think I was disparaging of dissing the average U.S. home owner. Our two countries obviously have two very different banking v. consumer approaches and responsibilities. Hopefully the events over the past year will be enough to get you guys to lobby your reps to change the system .... as in now!!!
I've been renting since I was on my own. I've always figured that I would only own a home when I had a substantial deposit and when I had a desire other than having property. One day, Prince and I would like to open a B&B and become gentleman farmers. In order for that to happen, I have to become a successful journalist / painter and he has to have at least three #1 novels under his belt .... we'll be renting for a while, I think =D
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oh I don't think you were being disparaging in the slightest. The mortgage insurance is supposed to be factored in but our bank did not do that with us, and other people I know are complaining of the same thing. Our lawyer is looking into it, because that was major factor in our woes.
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Sykos is Prince ever gonna get on here and contribute?
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@ Samantha A. Torrence
oh I don't think you were being disparaging in the slightest. The mortgage insurance is supposed to be factored in but our bank did not do that with us, and other people I know are complaining of the same thing. Our lawyer is looking into it, because that was major factor in our woes.
Good ... never hurts to ask though :) .... Your banker sounds like a real ...... charm? ... nope .... dufus? ..... nope .... loser ... yeah, that's it!!! I hope your lawyer dances rings around him. Full Disclosure is business 101 ..... idjit.
As to Prince contributing .... I'm not sure. These days I have to remind him to read my articles (every thumb helps). He is tickled pink that I'm having so much success and fun here though =D
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My hubby started by doing that.... then he started contributing. If he is an author he should definately get on here!
haha you said idjit... lol the things that amuse me at 10 pm
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Good report Sam.
With so many losing their jobs and many are worried that they will be next to lose a job how can they keep up house payments when they will struggle to just feed their family?
Those that say our economy is good they are so full of crap that I can smell them from where I live.
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@ Cynthia T. [Picasso]
Those that say our economy is good they are so full of crap that I can smell them from where I live.
I agree completely Mums ... as to the smell ... are you sure that's not just Windsor? ;P
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@ Cynthia T. [Picasso]
Good report Sam.
With so many losing their jobs and many are worried that they will be next to lose a job how can they keep up house payments when they will struggle to just feed their family?
Those that say our economy is good they are so full of crap that I can smell them from where I live.
Our wonderful economy is so far from being good that it's sickening. I don't know how everyone is supposed to deal with this...I really don't.
Great report, Samantha!
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@ Sykos Masters
I agree completely Mums ... as to the smell ... are you sure that's not just Windsor? ;P
I hope not as it has been awhile since I last visited Windsor. I drove through it two years ago on my way to other places in Canada.
One thing to remember Son, for me to go to Canada I have to go through Detroit, so maybe-------------- :)
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@ Debra Myers (skyangel)
Our wonderful economy is so far from being good that it's sickening. I don't know how everyone is supposed to deal with this...I really don't.
When you live in Michigan you KNOW that the economy is NOT good.
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Okay you guys have to read this.
I got called a moonbat, I am so proud!
What kind of drivel is this? Bail out bad decisions?
The truth is people made horrible decions at both corporate and individual levels. And we're only at 5% unemployment. Jeeeesh!
What knid of leftist, socialist moonbattery is this?
The last thing we need to be doing is rewarding bad behavior patterns for companies and individual adults.
Grow up. If you lose your job and failed to put aside enough money and insurance to cover yourself, that is BAD PLANNING.
Lord we're turning into a nation of whiners! Its like the people with two cars, cable, $1000 HD systems, DVD and CD systems, 2 Car garage, two story house and two bathrooms of prime real estate Whining Like Babies for Free Health Insurance coverage!
Instead of buying a smaller home, cheaper tvs, one less car, or cheaper cars and planning for their future and health of their children, they spend, spend, spend, spend.
Talk about foolish, uneducated and spoiled. That is Americans today. They think they have A RIGHT TO EVERYTHING in life in America.
That simply is NOT true. Freedom is the luxory to be an idiot as well and not buy insurance or spend all your money on frivolous things to keep up with the Jones and coveting trivial stuff you don't need.
Meanwhile, people with a clue put aside savings, insure their family, ohhhh and buy funeral plots, college savings, etc., etc., and do not demand the Nanny Gov take care of them.
What needs to change is Quicker Regulatory Actions in the future. The panic caused by Schumer at Indy Mac was his fault. They were taking in profits until his idiocy! Then his comments unleashed horrendous results.
What idiots do not understand FDIC today? You're covered up to $100,000! Spead your money around!
And by all means, if you cannot afford a $300K house for a month after losing your job, you are an Idiiot!
This is nothing like the Depression, nor anywhere near Jimmy Carter days! Where inflation roared out of control and unemployment spikes around the country up to 21%!
Heck, the Gov is already dishing out loans and BS consulting to people. A Democrat Congress Woman from California had at least TWO HOMES!
She could not afford them both and Filed Foreclosure AFTER - AFTER using money in the home to FINANCE HER ELECTION!!!
This is the corrupt national habits we are building.
Yes, the majority of people did make bad loans! When you buy property you must be ready for any potential! That includes LOSING your job for a long period of time. Any moron knows our economy is never perfect, it goes up and down over cycles.
Geeeeesh, can't believe I'm reading this here.
The same goes for the Corporations. What's good for the goose is good for the gander. Sop bailing out and REWARDING bad behavior!!!
Can you imagine giving your child an allowance for a week? That child spends it all in one day? Then what? Oh, johnny boobooo bear, Mommie will make it all better now, here is another Weeks Allowance! Just promise Mommie you won't do it again. Geeeeeee.... OK Mommie. Pffft.
That should be the Clarion Call today by thinking adults! Don't Reward Bad Behavior in Government, Business or Families.
Michael | 07.22.08 - 3:18 am | #
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Lets put this in perspective. Out of 330 Million people, 250,000 homes are in some state of forecloosure.
I once had problems when I was young and dumb in being forced to sell a house quickly for undervalue. No one bailed me out then and that is the way it should be today. I learned a hard lesson, but a good one. And if we treated adults this in American instead of Namby Pamby baby cuddling our children as they grow up into Adults, we as a nation we be a whole lost smarter and stronger.
Phil Graham may have said the politically incorrect thing to a bunch of namby pamby Americans, but he was right.
Stop whining, plan better, stop buying garbage you don't need and put first things first. Security and stability before buying some overpriced home you cannot pay for after a few months of unemployment. This is the failure of businesses too. Should we start bailing out every small business owner who does not play well enough ahead for failure?
honestly we're creating a bunch of socialist monkeys today.
Michael | 07.22.08 - 3:34 am | #
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One last comment. Its not that I do not have sympathy or cannot empathize with people. But this needs perspective. The majority of failures are subprime loans, many given to illeglas btw in areas like California, with no income statement.
I sat at home at night watching the idiocy of people buying Million dollar homes with 800 SQ FT.
We all laughed and predicted failure in the months and years ahead for some of these people because they were Maxing out their income.
Finally.... There are over 115,000,000 Million homes in America. Even if it is 1 million homes in foreclosure which I saw on one site, that is only 1/10th of 1 percent!
The Media talks abour records set of foreclosures and everyone panics. But the truth is we have Record Number of homes! And we have record Income! We have record number of mortgages too!
Sigh... OK, I'll know you disagree, but we cannot bail out every bad decision and expect to survive as a truly free country. If we go the way of socialism, then expect to be treated like children.
Michael | 07.22.08 - 3:49 am | #
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While the guy has good points on the socialist mentality in the economy as a whole, some of them are just not completely applicable to the situation. He is working off of "dumbest case senario" basically lumping everyone into the irresponsible and stupid category.
I decided not to bitch him out, but I am going to put together a list of facts about the economy he can look at. =)
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Wow, Sam! I'm surprised that you didn't give him the what-for! Let us know how he responds to your list of facts!
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@ Cynthia T. [Picasso]
When you live in Michigan you KNOW that the economy is NOT good.
Ditto that for Ohio
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@ Debra Myers (skyangel)
Wow, Sam! I'm surprised that you didn't give him the what-for! Let us know how he responds to your list of facts!
I think I was just so frikken amused at being called a moonbat that I couldn't work up the proper amount of anger.
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@ Samantha A. Torrence
I think I was just so frikken amused at being called a moonbat that I couldn't work up the proper amount of anger.
LOLOL! Well, you can get out your trout and slap him with it! LOL!
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@ Debra Myers (skyangel)
LOLOL! Well, you can get out your trout and slap him with it! LOL!
  Vote it up! 4 votes
trouth slap Public Domain (Public Domain)
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@ Samantha A. Torrence
I think I was just so frikken amused at being called a moonbat that I couldn't work up the proper amount of anger.
I warned you I get visitors from both sides of the political aisle. I am glad you are able to debate with him though, it should be interesting to watch.
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Nicely done. Americans need to learn to protest through the ballot box again.
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@ Sykos Masters
  Vote it up! 4 votes
trouth slap Public Domain (Public Domain)
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LMAO! There ya go, Sam!
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