Over the past few months we have heard about a variety of questionable practices from banks looking to seize the homes due to chronic mortgage delinquencies. Each day more drama is added to the picture. It has become the center of focus for many media hacks who want to exploit the frustration and anger they have with Wall Street and Washington.
These hacks are the same individuals who hid the realities of the real estate bubble a few years ago. Back then, they ran advertisements for mortgage companies and get-rich-quick real estate schemes. Today, they have positioned themselves as your savior, all while pitching gold and silver.
Do not be fooled by these hacks. All the care about is making money selling ads. A few years ago, mortgage and real estate companies were forking over the most money for ads. Today, gold and silver dealers lead the way.
While your favorite media hero continues to fool you as a consumer advocate, you need to ask why this individual did not warn you about the economic collapse. Furthermore, you need to ask why the big fraud is not being addressed; real estate securities fraud that resulted in the collapse of the global economy.
In my opinion, extensive coverage of this “foreclosure gate,” as it has been termed, is merely a distraction to keep Americans focused on smaller issues.
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