Citizens: We have been told that the banks own congress by a member of Congress

[xiamiam]

There are 8 million foreclosures and probably more on the way..the banks refused to write the principal down for what they are going to sell the house for anyway..but they must punish millions of americans ..displace them..continue the chaos...the block of repubs and 12 other congress persons determined the fate of millions upon millions of us....

this is bullshit

we have been told by one of obamas trusted colleagues that the banks own congress....doesnt get much plainer than that..what are we going to do about it...im in

[DJ13]

1. Anyone have carpentry skills?

[dixiegrrrrl]

18. Jesus did, but the Neos claim he is on their side.

[RandomThoughts]

2. Hows this for an idea.

Every three days, take the biggest bank in existence, break it in half. Make two companies. Continue to do this until no bank has more then 'some number' of billion maximum size in liability or assets. After a couple years we would again have competition in banking.

Make it a law that no individual or organization can own over 20% of any bank stock, and no person can serve on board or own stock in more then one bank.

This would also stimulate the economy as they would have to build lots of computers for all the new banks. And we still build computers in America. Might even get some construction jobs.

Try to split the banks by geographic region, then relocate them in the area where most of there customers live.

Then after the banks get small enough, no one person would get huge bonuses, nor have power to collapse economy by a single bank failing.

As far as stopping there lobbying power. Congress should get together, total up the amount of dollars spent on lobbying congress by banks, and pass a special tax on banks for that amount, that tax money is then distributed for campaigns for both incumbents and any challengers with x amount of signatures, that wants to run for office. However any congressional member receiving direct lobby money from bank would be exempt from receiving that money.

You could even end lobbying all together, if there was a tax on lobbying, and all that money went to the opponents of the guy getting the lobbying money.

[xiamiam]

3. sinking like a rock...how about this

http://www3.signonsandiego.com/stories/2009/may/02/1b2lend215431-accredited-puts-bankruptcy-papers/?business&zIndex=92511

major subprime lender files for bankruptcy..

or this..and this is very thought provoking...
Does God Want you to be Bankrupt

http://www.nytimes.com/2009/05/02/your-money/mortgages/02money.html?em
snip
The Koran, meanwhile, offers one of the more useful ideas on debt. “If the debtor is in a difficulty, grant him time till it is easy for him to repay,” the passage in the second chapter, verse 280, reads. “But if ye remit by way of charity, that is best for you if ye only knew.”

Charity is not required here, according to Mr. El-Gamal. But during that granting of time, he added, the creditor is not allowed to charge interest.

snip

[Pithy]

4. How about term limits

One 2-year term per CONgresscritter - never allowed to run again for life.

Obama's new stance against lobbying needs to get a lot tougher.

[marketcrazy1]

20. we already have the term limmits

we exorcise them in the voting booth...... VOTE INCUMBENTS OUT!! time to tell congress we are sick of their do nothing, pass the buck, blame the other guy BULLSHIT!! FUCK experience! look where it`s gotten us! VOTE EM OUT!!!!

[sohndrsmith]

5. I keep having a ridiculous (but delicious) daydream...

Wonder if the banks would notice if we all just took our money out. I know, I know, tangential and silly, but imagining the resulting effect is entertaining...

[xiamiam]

8. well, i imagine everyone refusing to buy their foreclosed houses...many of which

haven't even been released to the market yet..that would stop them and their unyielding determination to destroy the middle class of america

[sohndrsmith]

17. what an egregious mess... I'm suddenly (appropriately) more somber. n/t

[malaise]

6. Check out Bill Moyers program from last night with James Meacham

http://www.pbs.org/moyers/journal/05012009/transcript2.html
Transcript here

http://www.pbs.org/moyers/journal/05012009/watch2.html
video here

Durbin's comment may have been the most important statement by a Senator since the Great Depression.


Time to clean up that cesspool.

[xiamiam]

10. i think he is asking us to rise up...if we have the stamina from the ass whipping we're getting..nt

[malaise]

16. Exactly

If the banks own the Senate the people will have to fight on their own.

[BlooInBloo]

7. Extra-insulting because banks are putting foreclosed houses up for sale for LESS than amount owed!

So why not just restructure the deal with the original fucking borrowers?

http://www.calculatedriskblog.com/2009/05/foreclosures-banks-setting-opening.html

[xiamiam]

9. defies logic...

[Mnemosyne]

12. If they let them go at less than owed, will the previous owner be liable for

the 'balance' owed?

Thanks Bloo!

[glinda]

14. I think because they are being basically given away to investors. Some will become rentals I think.

And....if a person sells or looses their home, it appears it is also harder to get a loan to buy another home. The point of all of this seems indeed to throw people out of their homes and onto the streets or in rentals as well as throw their animals to the gallows. The next wave will be people like my husband and I who on a fixed income make it on less and less every month or two. I will project ahead and predict that we will come to a point where we can no longer live in our home that we are still paying on and then will not be able to get a loan for another property if we can even sell this one. I am scared shitless actually. And I am very angry that Obama and staff are letting this happen to people. The Banks do not deserve another cent. They are stealing our money. And for retirees they have squandered our investments. They want to punish us for taking out our remaining pennies to survive. I am not a happy camper and we need to do something really big about this.

[BlooInBloo]

15. The next ARM rate reset is comin' 'round the mountain...

Heh.

[xiamiam]

21. many of us are on shaky financial ground ...there will be more which will lead to more hardship..

im still stunned by thursdays vote and the callousness and total lack of regard for millions..hard to take..there is no way that millions more displaced people is going to stabilize the economy...its just stupid ..i still hope obama has got something up his sleeve to correct this because if he doesnt, we're going down...even some of those who dont think they will...

[leftstreet]

11. "AND THEY FRANKLY OWN THE PLACE"

Can't be repeated enough.

Which led Durbin to utter the quote of the week: "And the banks -- hard to believe in a time when we're facing a banking crisis that many of the banks created -- are still the most powerful lobby on Capitol Hill. And they frankly own the place."

http://www.huffingtonpost.com/chris-weigant/friday-talking-points-75_b_194988.html

K&R

[Gregorian]

13. We the corporations of the United States, in order to insure more profit

Congress is answering to the corporations. Is that right? It doesn't seem so.

So in other words, the people are competing for the attention of Congress. That isn't right.

We must eliminate lobbying if we want to preserve democracy, I believe.

[dixiegrrrrl]

19. I am curious...how many of us on this thread

bank with BofA, WaMU, Wells Fargo, Chase, etc. as opposed to a local only bank?
or have one of the above banks credit cards?

The only way to stop the Big____________( whatver _________ is)
is to make it unprofitable for ______________ to continue the same behavior.

They are doing what they are doing because it works.

But there are millions of us.
What can we do to make it unprofitable for them?
(legally, natch)