B of A Parallel Foreclosure CONFESSION

Saturday, January 30, 2010

Rolling Stone reveals how Barack Obama deviated from his campaign promises when it came to actually following through on them.

The Rolling Stones article by Matt Taibbi reveals the shift that occurred from Barack Obama's campaign message versus what he actually did after becoming president. Barack's team changed after the election to a Harvard / Wall Street connection and they had not done so well on wall street in the recent past.

Ironically, the one area where Barack Obama did not listen to his Harvard Wall Street money group was when it came to balancing the budget, or even coming close, Barack Obama chose not to pursue balancing the budget.


My take on the article is it is about Barack Obama giving everybody what they want, and then something happens. In the meantime, 10,000 homeowners are foreclosed upon in the United States each day.

Tuesday, January 12, 2010

The Street Gets it Wrong when it Blames Consumers for not Reducing their own Consumer Debt, Gasp.

I found a story identifying the reduced consumer debt as having to do with credit card write downs and not a change in consumer spending habits. I found the ending of the article offensive as it blames the american consumer for not doing more to pay down their debts.

This is an idiotic conclusion, and one that cow tows to the wall street banking banksters that have put their resources in scandaulous derivative schemes, bankster bonuses, seeding wall street, and international investments, NONE of which helps americans reseed their local economies.

The american people have been robbed of the ability to reduce debt because of existing ultra high credit card interest rates that is starving the rebirth of local commerce. To blame Main Street for the chicanery of Wall Street is just another slap in the face from the banksters as the line up for their billions in bonuses.

You can read the story and the scandalous final sentence on page three of The Street article by clicking on this sentence. If you don't move your money to a local community bank or credit union, who will?

Tuesday, January 5, 2010

Where Does the Term Parallel Foreclosure come from? From Chase Bank as quoted by Sarah Buduson of KPHO CBS 5.


Somebody who claims to be a loan agent accused me of making up the term "parallel foreclosure". I did not make the term up, and find it sad that so few people seem to even be aware of either the term parallel foreclosure, or the practice of parallel foreclosure.

As you can clearly see in the image provided above, KPHO CBS - Channel 5 anchor person and reporter Sarah Buduson identifies the term parallel foreclosure in this news story from around Nov. 12, 2009 and credits the term to a Chase Bank representative, Mary Jane Rogers.

Edit update. The link above goes to an article I wrote over a year ago and I can't believe how long winded and "can't we all just get along" I was. It embarrasses me to read it now. If you want a better update on the history of parallel foreclosure (is that an oxymoron?), click here.


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