“Foreclosure” A home owners nightmare currently sweeping the US and beyond as result of, principally, the “Sub-Prime Mortgage” market collapse. A market designed by skilled “Gamblers” who, unlike their lesser counter parts playing a straight “Game of Chance” in the Nevada casinos – Set out to established a game, to be backed by vast sums of international money, and, where the principal players could only win irrespective of any monies lost by their organizations at the end of the day.
Recent news articles report that “The FBI’s investigation of sub-prime lending practices could take a long time, officials say” – The SEC has opened about three dozen civil investigations into the sub-prime market collapse” A FBI spokesman has indicated they now have “34 mortgage fraud task forces and working groups that included other federal agencies and state and local law enforcement officials” and that “We consider it a significant and growing crime problem”
So What! at the end of the day, apart from a few “Fall Guys” to feed the media and public needs, the real parties responsible, financially able to buy the best in legal representation, will remain free to sit back to enjoy their gains. Or, perhaps not so this time.
As the full realizations of the effects of the massive negative financial impact on the US economy sweeps the population and its ongoing effects world wide most will appreciate that we are entering into very new era with new economic giants entering the world arena. Some of these financial giants have already provided “bail Out” monies to US financial institutions and no doubt will provide more throughout the coming years(s).
They are not doing it for love. Self interest and investment? yes. As new masters with major interests they may not be conducive to a future repeat performance of such financial set back and are expecting some sign of serious action by the US. One must wonder at how might the Peoples Republic of China or some of the Arab states deal with persons who were responsible for wrecking their economy. It was not to far past in history when the description for such action was called “Treason”
Many, Mr & Mrs decent Americans may lose not only their homes but also possibly their saving and investments to institutions who were once pillars of good ethics, responsibility and ethical standing.
While untold number will effectively be “losers” to this fiasco there will, by the law of nature, also be some “Winners” As in the great depression of 1929 there were those who emerged with greater strength and wealth and, so to will it be again.