I know it’s obvious. I know it’s like shooting fish in a barrel. But, for Chrissakes, why is denouncing the wealthiest for being greedy — which they are– “class warfare” but cutting off unemployment insurance for common people, bestowing a trillion or two in tax breaks for the rich while one out of six workers is effectively unemployed and engaging in the most radical transfer of wealth upward over the last 25 years are not?
What a strange country we live in.
What a subservient, timid MSM we are condemned to suffer.
Indeed, where is the MSM on foreclosure-gate? Mostly looking for rationalizations so as to defend the fraud and deception while bloggers, who are way ahead of them, do genuine research and break the stories. This is precisely what happened in the subprime meltdown too. Blogs like Calculated Risk were literally a year or two ahead of MSM on the story. So was this blog, and many others too. The MSM mostly mocked the bloggers then until the truth about subprime became so apparent that they could no longer avoid it, as deliberately unseeing and beholden to the financial classes that they were.
Now the whole process is happening again. Our mostly pretend journalism class takes its cues from its financial benefactors and isn’t real interested in hard-hitting, investigative journalism, as that might compromise their paychecks and career advancement. That’s why the MSM is so timid. Sure, they are a few genuine exceptions, but for the most part, they were compromised and co-opted long ago.
That’s why they don’t talk much about the obvious class war by the rich against the rest of us. If they did, they’d lose their entree into that world and all the perks that go with it.
Do you know of a good article that summarizes what’s going on with foreclosures? I’ve kind of been following it, but I don’t really understand it. I just mean the most recent stuff.
Check ZeroHedge.com and Nakedcapitalism.com. Both have lots of coverage and links to other sites as well.
Basically, it appears that the loan documents for perhaps millions of foreclosures is either fraudulent, in error, or missing. This means the foreclosures may not even be legal and puts the trusts that hold the mortgages (and who packaged them into securities) at very serious risk. This is turn threatens banks, hedge funds, and many investors.