Wednesday, July 13, 2011

Why Housing Prices Keep Falling

Come on people, this isn't that hard to figure out -
A lead foreclosure fraud investigator for the state said she and a colleague were forced to resign from the Florida attorney general's office, unexpectedly ending their nearly yearlong pursuit to hold law firms and banks accountable.

Former Assistant Attorney General Theresa Edwards and colleague June Clarkson had been investigating the state's so-called "foreclosure mills," uncovering evidence of legal malpractice that also implicated banks and loan serv­icers.

Despite positive performance evaluations, Edwards said the two were told during a meeting with their supervisor in late May to give up their jobs voluntarily or be let go.
The Real Effect
Do we really believe for a moment that the group that thinks that limits on it's excesses are a sin would voluntarily cut it's own bureaucracy to save money or discipline bad workers? No? Good, now that we got that garbage out of the way we can view this for what this is. Here is a quick, simple explanation -
  • Banks control the money
  • Politicians want money, banks want less competition
  • Politicians write the rules that banks want
  • Banks fund politicians
  • Politicians ignore banks extracting wealth out of the "commoners"
 How do we get out? Repudiate the debt.

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