Posts Tagged ‘breaks’

Foreclosure Clean-Up Gets Police Response, But Not Bank Fraud?

Monday, May 7th, 2012

A group from the Miami Workers Center clean up the area around an abandoned bank-owned house, as police officers wait nearby (Photo Courtesy:Miami Workers Group)

It never ceases to amaze me the glaring duality of the world I live in.

I am constantly reminded that we live in world where you and I have to play by one set of rules, yet the vast financial complex that resides on Wall Street isn’t held to even a fraction of those standards.

The latest example comes way of a small protest in Liberty City last week.

A few members of the Miami Workers Center, a grassroots organization, arrived at an abandoned foreclosed home, a property that like countless others is nothing more than a glorified trash dump.

Their nefarious plot? To clean the home up, and try to make it a little less of an eyesore.

Scary right?

And what did this group, which included a grandmother and an pregnant woman, encounter when they arrived at that home?

About a half dozen cops, who threatened to arrest any of them if they stepped foot on the Bank Of America-owned property.

The protesters, to their credit, didn’t give up and cleaned up the public areas around the home. Not once was a burglary tool spotted.

The officers watched over these men and women like mother hens as they picked up beer bottles and broken glass, among other fabulous ‘accessories’ the home had accumulated over the last few years. (Bank of America took the home in 2010.)

But when the banks not only trespass, but break into my clients homes? How many police officers can I get on the case? Not a single one.
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Time To Break Up ‘Too Big To Fail’ Banks Is Now

Wednesday, April 11th, 2012

“Let me be frank. Our banks earn profit too easily. Why? Because a small number of large banks have a monopoly.”

Sounds like something I would have said. Or something our president SHOULD be saying.

Except here’s the thing. The elected official quoted isn’t talking about our own corrupt banking system.

The quote above came from the prime minister of China. And he’s talking about his own country’s state-run banking companies.

Wen Jiabao, during a recent broadcast of China’s state-run radio, said his banks need to be broken up to fix his country’s economy.

If China, a country not exactly known for embracing capitalism, wants to break up its banks, does the US have any other choice but to follow suit?

I believe our nation, as a people, is duty bound to do so.

I’m saying it. The Dallas Fed has said it. Even Bruce Springsteen has said it. And now the prime minister of China has said it.

When banks are not only ‘Too Big To Fail’ but too big to compete, we the people must step in and break them up.

There really is no other choice. It’s pretty shocking that China has come to that conclusion before us. In fact it’s an absolute disgrace.

The idea that it’s OK for the TBTF banks to continue operating at the size they now do is a fallacy and it’s a notion that’s only been propounded by the banking industry to basically preserve the status quo.

Just shows you whose pockets many of our politicians are in.

Only when we have competitive, nimble, smaller banks that are able to seize new opportunities as they arise are we going to be able to compete on the world stage.
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