My crystal ball: The foreclosure crisis will make headlines on November 3rd

[Lesleymo]

I was flipping channels this morning, between Meet the Press, and Fox News Sunday and MSNBC. Bla bla bla midterm elections, midterm elections, furry baby animals (MSNBC), midterm elections, yada yada yada. The only coverage I've seen of the foreclosure mess this week was 60 seconds of Jim Kramer (barf) on Morning Joe (barf) saying absolutely nothing of substance.

So I started wondering - why is the media being so silent on this potentially huge story? It came to me pretty quickly.

Because the Republicans don't want it to come out yet.

After all, if it all exploded in the media right now, they might possibly get blamed. Our collective amnesia might lift for just a moment, and we might realize that Republican policies (a) caused or at least contributed tremendously to the housing crash and (b) are now leading to Crash, The Sequel.

No, right-wing brothers and sisters, let's leave this story in the dark for now. Once the mid-terms are over, we can blame the new housing crisis on Obama. After all, it's happening on his watch. It's his baby now.

We can block any efforts to rescue the homeowners (or homeless former owners) who so foolishly took out mortgages they "couldn't afford." What idiots.

We can block any efforts to bail out the banks. No more spending! If the entire economy crashes, that will make our 2012 prospects even brighter.

Things are looking up!

Romney/Palin 2012: Taking Our Country Back.

[fasttense]

1. Perhaps they are getting some help from the Democratic leaders.

If congress or the administration had frozen all foreclosures (as was suggested by some economists) at the beginning of the bank feeding frenzy, and taken a good hard look at the problem, banks would not be looking at millions of lawsuits right now.

It just seems that our federal government stood back after a very short foreclosure moratorium, and let the piranha banks attack American citizens. And now they realize that they got a mouthful of crap.

It's kind of funny that our hard earned tax dollars went to bailing out the banks who are trying to feed off us and who fought tooth and nail to prevent cram down. It's like we keep feeding the piranhas who are biting off our fingers.

[tridim]

2. The story is already in the wild, thanks to the Internets.

I think TV media isn't reporting it simply because they will lose the advertising dollars from those same banks.

[Lesleymo]

4. A lot of people are in the dark about it

Including my investment advisor, who was quite surprised this week that I wanted to sell our shares in Wells Fargo. "We've got a buy on them right now," he said, the day before their stock dropped 4.6%.

Time to switch advisors, obviously.

[tridim]

5. My Realtor was also clueless until I explained the problem to him.

You'd think the Realtors would be the first to know since it is going to seriously affect their bottom line.

I bet the realtors have a class action case against the banks if they choose to pursue it. The banks destroyed their entire market.

[Demeter]

3. The Story About the Story Will Be the Story

while the criminals walk away with the loot.

[LuckyLib]

6. PBS's Newshour had a long piece on it last Thursday. These banks are criminal

enterprises -- we ain't seen nothing yet!

http://www.pbs.org/newshour/bb/business/july-dec10/makingsense_10-14.html