Unfortunately, anger here against banks has had little effect, mainly because Obama hired the architects of the disaster to pretend to clean up the mess they made. In Iceland, banks are forgiving debt. This is because they have a government that genuinely responds to the demands of their people.
In The US, the Home Afforable Modification Program “has to date been a failure.” This should come as no surprise since, as Eliot Spitzer says, Obama “has been on Wall Street’s side since Day One.”
Iceland nationalized their banks, arrested banksters, and defaulted on their bonds. Thieu economy is now recovering strongly while ours isn’t. But when the US president is a captive and compliant entity of the banksters, that’s to be expected.
Spitzer summarized Obama’s efforts as the “occasional speech” criticizing Wall Street practices, largely followed by little to no substantial legislative action.
The Great American Foreclosure Song from ProPublica uses satire and humor to explain how the fix is in.