The Corporate Sector Destroyed The Middle Class

The Corporate Sector Has Killed The American Dream, Which Is A Shame, Because It Was A Good One

President Barack Obama looking in the mirror

This year a number of mainstream articles have lamented regarding the erosion of the middle class, wondering how it happened, when the answer is right under their noses. The mass corruption and fraud in the corporate sector destroyed the middle class.

Unethical schemes and underhanded tricks have been used to exploit middle class businesspeople in America, destroying and gobbling up their businesses in favor of conglomerates. Faceless, soulless corporations, then buckled and fell under the sheer magnitude of the corruption and crooked business practices.

It is not easy starting and maintaining a business in America anymore. In the 1980s and 1990s it was much easier. There were many rags to riches stories. Now there are too many fees, too few loans and too much corruption one has to wade through, rendering it an unfavorable and unprofitable proposition for many.

I speak from experience. I have been trying to start a new business and you would not believe the hurdles I have experienced... and I didn't even apply for a business loan, which would have complicated it that much more.

In attempting to license the business and lease space, I've had different business people try to hustle me and talk me out of it, providing every negative reason they could think of, as to why I should not start the business, though it is a good, lawful one. Obama wants to know what happened to the middle class and small business sector...there you go!

Former President George W. Bush

I've never seen anything like it in my life. I grew up around so many business owners as a kid and teen, but now it is a different story. To those that make it through the ridiculous obstacle course that has become the corporate sector, there is some unethical corporate giant waiting to illegally profit from and disassemble all you've worked for, while the FBI, FTC, SEC and court system turn a blind eye.

Then, the corporate giants fall (as did Lehman, Countrywide, Washington Mutual, Wachovia, Merrill Lynch, MGM, ect...) leaving the government scratching its head wondering what happened to the economy. Look in the mirror.

The government needs to take a good, hard look at itself, what it has become and what it has allowed to happen to the working class, under the auspices that corporate giants are too big to fail and can do whatever they please, as it has brought America to the brink.

The mortgage lenders conspired and reset the interest rates on millions of mortgages a couple years ago, costing many their homes, the gas companies gouged the populace, usurping billions of dollars during the recent price hike ($3-$5 per gallon), food prices went up, due to added transportation costs (gas again) and ponzi schemers' fraudulent conduct began to unravel, when people started demanding their funds during hard times, not realizing their money was gone. It was the perfect storm, as the phrase goes.

It never used to be this hard to make it in America. Many people used to thrive. So many people that lived financially comfortable lives are now struggling to make ends meet. Now only the very rich are prospering, some through fraud and it is dragging the majority of the nation down.

How can it be good that so many people are suffering, under the aforementioned, illegal redistribution of wealth that transpired at the expense of the fleeced working class. Who will restore the American dream. The government needs to change or the people will change you.

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Obama Refuses To Sign Foreclosure Bill

Barack Obama

U.S. President, Barack Obama, has refused to sign legislation regarding homeowners, as he has been told it will make it easier for banks, other lending institutions and their legal representatives, to foreclose on people's homes. Over the past few years, America has faced an unprecedented number of foreclosures, far surpassing anything that occurred during the Great Depression. The current foreclosure crisis seems to get worse as each month goes by. In short, something is wrong.

There are reports of people all over America, especially elderly couples, who had their homes fraudulently foreclosed on by law firms, acting on behalf of banks, when there was no mortgage or debt on said properties, as they were paid off years prior.

There was a notable case in the Miami Herald last year, regarding a woman that went on vacation for a few weeks and returned to find, the now defunct, Washington Mutual, had foreclosed on her home, which was not in arrears and had sold it at auction. She came home to find what was left of her possessions on the sidewalk and the new owner threatening to call the police to arrest her for trespassing.

The aforementioned cases represent the sheer lawlessness and thievery law firm foreclosure mills are capable of, to the public's detriment. This is what America has been reduced to, due to poor government oversight, during the previous and current administrations.

This month, it was revealed, many U.S. foreclosures were rubberstamped by banks and judges, not paying attention to the contents of the documents foreclosure law firm mills have been bringing before them.

To make matters worse, a questionable judge in West Palm Beach, Jack S. Cox, has unethically and inexcusably, shutdown a lawsuit, attached to an investigation, by Florida Attorney General, Bill McCollum, into one of the state's most notorious foreclosure mills, the law firm of Shapiro & Fishman LLP. The law firm has put hundreds of thousands of homeowners out on the streets and in some cases, under dubious circumstances.

FBI Director Robert S. Mueller, knew in advance of the developing problems in the mortgage sector and did nothing to stop it

Judge Cox tossed a subpoena by the Attorney General, demanding financial information from Shapiro & Fishman LLP, regarding their dealings in kicking many homeowners out of their properties, under strange circumstances. Some of the foreclosures were legit, but some were not. However, Cox is crazily claiming the Attorney General has no authority to investigate the law firm, which is a lie.

Judge Cox needs to be voted out. The people of Florida need to remember him for what he has done in this case and whose side he is on, as it certainly is not the people of the state. Through the ruling he has rendered, Judge Cox, has aided a corrupt law firm in fraudulently tossing people out of their homes. No judge should be able to impede an investigation and it was done with no constitutional or legal basis to support it. Some of these judges are so bold with the bald-face corruption, they are giving all judges in the nation a bad name.

I've stated it before and I shall state it again, judges have played a major role in the deterioration of the U.S. economy, as so many lawsuits have been crookedly shutdown, because they threatened to expose corruption and financial fraud in the corporate sector. It's not about justice anymore. It is about who has the most money to buy it.

Some judges are taking massive bribes in the form of cash passed to them by lawyers on behalf of clients, stocks, clandestine real estate deals and valuable favors for their family members. It is all leading up to a terrible disaster. Furthermore, with the way the Obama Administration is spending and sending the deficit sky high, coupled with the fraud in the court system, the entire federal government is in jeopardy and at risk of extinction, in favor of state governance, which is cheaper.

The Bush and Obama Administrations have handled criminals in corporate America with kid gloves, which is why the problems in the economy keep growing worse. The ponzi schemes, thievery, fraud and gouging has not been eradicated from Corporate America. Now the nation is facing stimulus fraud as well, watching billions in taxpayer dollars squandered, misappropriated and hoarded, which is of no use to the economy.

High profile criminals believe there will be no significant consequences for their criminal misconduct and so, they continue. Once again, the bank accounts of a handful of rich is being given precedence, over the financial health of millions of people, who could end up homeless.

Kerry Killinger	Angelo Mozilo

Two and a half years ago, the Judiciary Report, offered a simple solution to the mortgage crisis, before it reached the horrible state is has at the present time. It was contained in the the March 17, 2008 article "You Need To Give Them Their Homes Back."

I stated, the banks needed to give people their homes back, who were recently foreclosed upon, reduce some of the debt and it will bring in revenue, to set banks back on the right financial path. It was either that or accumulate millions of foreclosed homes, which would be a nightmare for the nation. Showing off, they did the opposite of what the site suggested and I thought to myself, "Watch this blow up in their faces in 5,4,3,2,1..."

A year later, both Countrywide and Washington Mutual, mentioned in the article two and a half years ago, spectacularly collapsed and were bought out for a mere fraction of what they were worth. Their arrogance destroyed the companies and negatively impacted the economy.

To date, none of the bankers responsible for the mortgage crisis, Agnelo Mozilo (Countrywide), Kerry Killinger (Washington Mutual) and several foreclosure mill law firms representing them, have done a single day in prison or paid a dime in restitution, for the extensive damage they have caused a nation of 305,000,000.

These acts of corporate theft and fraud, constituted the illegal redistribution of wealth, stealing people's homes, they put their hard work, blood, sweat and tears into and it is not right. Where is the accountability. Where is the "liberty and justice for all."

RELEVANT READING

Judge Halts Investigation In Corrupt Law Firm Stealing Homes

The Foreclosure Mess Could Last for Years

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Florida Foreclosure Law Firms Under Investigation

You Need To Give Them Their Homes Back

Chris Dodd Reelection Bid Called Into Question

Chris Dodd

Senator Chris Dodd is facing difficulty in his reelection bid, due to financial scandals he has been involved in, such as Countrywide issuing him a special, discounted loan to sway favor in Congress.

The everyday citizen does not like it when lawmakers get into sweetheart deals with conglomerates that determine the quality of the goods and services they receive as consumers. Dodd has had one too many problems in this regard and it is clearly adding up.

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Senators Dodd And Kent Conrad Cleared

Chris Dodd in Trouble in Reelection Effort

December 11, 2009 11:58 AM - Chris Dodd (D-Conn) has been in the Senate for five terms, rising through the ranks to become one of the most powerful lawmakers in Congress...

For much of the past year, Dodd, who heads the Senate Banking Committee, was the subject of voter outrage for his role in the payment of bonuses to executives at AIG, the troubled firm that received a massive federal bailout.

Dodd's close connections to leading bankers are coming back to haunt him. One such connection is to former Bear Stearns director Edward Downe Jr., who once shared a condo with Dodd. After Downe's conviction for insider trading, Dodd leaned on President Clinton to pardon Downe at the end of his presidency.

Dodd's reputation also took a hit amid allegations that insurance giant Countrywide gave him "VIP" treatment in refinancing his home...

http://www.cbsnews.com

Countrywide Destroyed Incriminating Evidence Against Senators

Chris Dodd

Predatory lender Countrywide, that was recently taken over by Bank Of America, as bad banking practices ran it into the ground, while the corrupt CEO, Enzio Mozillo, made off with almost $200,000,000, destroyed evidence that linked two senators to questionable loans.

Kent Conrad

Senators Chris Dodd and Kent Conrad were recently chastised for taking loans from Countrywide, with favorable discounts, which gave the appearance of impropriety, in swaying legislation in favor of the mischievous mortgage brokers.

Phone Calls Add to Din Over Loans

September 28, 20009 - Congressional Investigators Ask for More on Countrywide VIP Mortgage Program

The discovery that Countrywide Financial Corp. recorded phone conversations with borrowers in a controversial mortgage program that included public officials -- and that those recordings have been destroyed -- has prompted new congressional calls for more information about the program.

Rep. Darrell Issa of California, the ranking Republican on the House Oversight and Government Reform Committee, is trying to subpoena the remaining records of Countrywide's VIP loan program. So far, the committee's chairman, New York Democratic Rep. Edolphus Towns, has turned down that request.

The committee's Republican staff investigators have spent months looking into the VIP program, and learned of ...

http://online.wsj.com

Banks And Bad Business Acumen

It's safe to state, corporate America led the United States into the current recession-turned-depression. The banks played a role in this financial calamity as well, spearheading the accompanying mortgage crisis, still spawning hundreds of thousands of foreclosures all over the country. Millions of families have lost their homes, due to bad loans, deceitfully issued by greedy mortgage companies and banks.

The next article is more proof of the arrogance, heartlessness and poor business sense banks are operating under, when a family's home was foreclosed on over 7 cents. As a result, Countrywide rejected the family's mortgage payment and placed their home into foreclosure. Disgraceful!

Make it worse, the family lost their 10-month old daughter to a household accident, now they are losing their home as well.

This is why I keep stating Obama and his administration cannot deal with the banks using kid gloves, as some of them are heartless.

Family losing home for underpaying mortgage by 7 cents

A Michigan family with an apparently spotty payment history is losing its home because it underpaid its mortgage by 7 cents, according to a legal aid group.

Sydney Rooks, a lawyer for Legal Services of Eastern Michigan, tells the Detroit Free Press that Creg and Bonnie Berger of Deckerville inadvertently underpaid their mortgage because a postal clerk issued a money order for $440 rather than $440.07. The Bergers didn't catch the mistake and they were four weeks late making February's payment of $690.07.

Though the Bergers, who have four children, caught up by mid-April, Rooks says, Countrywide Financial and its new owner, Bank of America, rejected the couple's payments...

http://blogs.usatoday.com

Senators Dodd And Kent Conrad Cleared

Chris Dodd

U.S. Senators, Chris Dodd and Kent Conrad were cleared of impropriety in accepting discounted loans from, Enzio Mozilo, the deposed CEO of troublesome Countrywide.

Kent Conrad

Regardless of the complaint dismissal, the appearance of impropriety is there. The mere fact they accepted favors of a financial nature, from a corrupt banking CEO that helped to bring the worst mortgage crisis in history on America and by default, Britain, France, Germany, Switzerland and Iceland, who invested in Wall Street, on which he trades, was highly inappropriate.

Senators Dodd, Conrad Cleared on Ethics Complaints

Friday, August 7, 2009; 6:17 PM - The Senate Ethics Committee on Friday dismissed complaints against Sens. Christopher J. Dodd (D-Conn.) and Kent Conrad (D-N.D.) that they used their positions of power to obtain special deals on home loans from lender Countrywide Financial.

After a year-long investigation, the committee told Dodd and Conrad that it found "no substantial credible evidence" that they violated the Senate's ethics rules. The committee found that the senators' loans were processed through the special program, but that they didn't appear to profit financially from it.

But the committee also admonished the senators, saying they "should have exercised more vigilance in your dealings with Countrywide in order to avoid the appearance that you were receiving preferential treatment based on your status as Senator."

The allegations about Dodd and Conrad are part of a politically explosive controversy about whether high-profile politicians and businessmen received special deals on home loans from an exclusive Countrywide program created by former chief executive Angelo Mozilo.

The ethics committee investigation found that participants in the Countrywide program "were often offered quicker, more efficient loan processing and some discounts."

http://www.washingtonpost.com