Black People Politics : Is Barack Obama a Banker?

Ankhur

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This is not about bashing!

This is about clarity!

A banker is a legal profession and an important one in modern society,
however each of te presidents proposals and plans to restore the Bush bankrupt economy,
seems to serve business interests at the expense of the citizenry, something every republican would have loved to have one, but knew they could not get away with it.

Since bankers and Wall street caused the economic crash in 2008,
via bundling junk bonds worth squat and giving the bundles triple A credit ratings,
and thenmarketing these bundles by the billions, like a pyramid scheme,

any elected oficial would penalize the banks for the bnefi of the citizen

However a Banker would penalize the citizen by making them and their descendants pay for bailouts to the very same banks,
and provide the bailouts without the caveat of laws to prevent, derivatives, hedge funds or subprime loans ,
and laws that would require the banks to make easy low interest loans, from that money.

In education, agriculture, energy, foreign policy, communications,
ecology, health care,
and now housing,

each and every policy and proposal from the president, sounded nice, but when one reads what, is actualy there and the fine print,
one sees clearly that they all favor business at the expense of the citizenry.

Instead of a mortgage moratorium, for those swindled by subprimes, or who have lost employment due to outsourcing,
which could easily be mandated,

the president has mandated mortgage loan refinancing, which means,
lower monthly payments, but double the time to pay of the mortgage,
and who knows how much interest could be bundled into such a long period to pay?
 

Ankhur

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Obama Unveils New Plan to Help Underwater Homeowners Refinance



President Obama unveiled a new plan Monday to help U.S. homeowners who owe more than their properties are worth. Speaking in Las Vegas, Obama said the change would make it easier for many homeowners to refinance their loans.

President Obama: "Number one, the barrier will be lifted that prohibits responsible homeowners from refinancing if their home values have fallen so low that what they owe on their mortgage is 25 percent higher than the current value of their home. And this is critically important for a place like Las Vegas, where home values have fallen by more than 50 percent over the past five years ... Second, there are going to be lower closing costs, and certain refinancing fees will be eliminated — fees that can sometimes cancel out the benefits of refinancing altogether, so people don’t bother to refinance because they’ve got all these fees that they have to pay. Well, we’re going to try to knock away some of those fees."​
Analysts predict the change will help about one million homeowners — just a fraction of the country’s 11 million underwater borrowers. The Huffington Post reports one of the program’s new terms will benefit private-sector Wall Street banks, potentially at the expense of taxpayers.
http://www.democracynow.org/2011/10/25/headlines#0
 

Destee

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and we are all subject to his / their decisions ... so what does that make us?

:heart:

Destee
 

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