2016 Postmortem

davidn3600

(6,342 posts) Wed Oct 24, 2012, 01:13 AM Oct 2012

One thing Im shocked that wasn't mentioned in the debates

It might have been briefly mentioned but was not seriously discussed.

The mortgage meltdown. Fannie Mae and Freddie Mac. Predatory lending. The illegal foreclosures by Bank of America. Homeowners with underwater loans, etc, etc..

Most of the middle class have their money in real estate. Their home is the foundation of their net worth. And practically every homeowner in the country has been hit hard with the real estate crash. Im just surprised neither candidate really went into this topic.

2 replies

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One thing Im shocked that wasn't mentioned in the debates (Original Post) davidn3600 Oct 2012 OP

Nobody wants to take on the banks Angry Dragon Oct 2012 #1

NOT Shocking... Iggy Oct 2012 #2

Angry Dragon

(36,693 posts)

1. Nobody wants to take on the banks

Reply to davidn3600 (Original post)

Wed Oct 24, 2012, 01:19 AM

Oct 2012

Iggy

(1,418 posts)

2. NOT Shocking...

Reply to davidn3600 (Original post)

Wed Oct 24, 2012, 06:50 AM

Oct 2012

something like $7 Trillion in asset value was lost in the Meltdown... as you state, some of that was
real estate value/homes for the middle class.

we're not getting that back.

one of the reasons the politicians avoid talking about this is because basically NOBODY was punished for the obvious
FRAUD that went on regarding mortgage securities.

the banksters totally got away with it.

Part II: now that the banks (thanks to the fed gov't bailing them out) are the only ones flush wth cash, they will
now come in and buy residential and commerical real estate-- at rock, bottom depressed prices.

buy low, sell HIGH.

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