Forum Post: Here is a REAL CHANCE to fight the banks, in court
Posted 12 years ago on Oct. 27, 2011, 5:46 p.m. EST by RobertLee
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Seeking a few good minds to fight in court, on an existing case. The maximum post length allowed here is insufficient to explain. I've just created a site on the google blogspot domain, titled, 'The Housing Market Oil Spill', http://housingmarketoilspill.blogspot.com .
Please give a look, I really need your help. Thank you.
I didnt see people who rode the market complaining on the way up.
You just got caught by bad timing.. you can't blame anyone for being caught holding the bag. I was looking for a house to buy in 2004, around when ARMS started becoming popular.. but saw the bubble (ie: rising housing prices, relatively stagnant salaries, and with ARMS a ballooning payment in 3-5 years that meant that many people will be selling around 2006-2008) So I decided to put off buying a place until the market crashed (or became alittle more affordable)
The only thing i missed was how bad it was going to crash.. if i had seen it (and had the capital) i would have done what the big banks did and shorted the market. In 2004-2005, you can SMELL the greed that was coming out of everyones pores in their eagerness to buy any house to flip and cash in.
Now that the market has crashed, everyone wants to have the govt bail them out.
The govt was at fault for artificially creating such a low interest environment. The banks were at fault lending to people who didnt deserve it. People were greedy (nothing wrong with that.. just understand that you need to temper the greed with risk/benefits).
The only thing that SHOULDNT have happened is that banks got bailed out. This has stretched the housing crisis out for way longer than necessary. If the banks weren't bailed out, the housing crash would have been deeper but would have ended quicker.. (ie: the market would find a fair price for housing quicker). But with all of the half ass attempts at stabilizing the market (aka: artificially setting a floor to housing prices via TARP, HARP, and persistently low interest rates) no one is sure when it is going to bottom, dragging out the recession.
From the the law of the land, Article 5 of the US constitution, our first constitutional right Article. V.
The Congress, whenever two thirds of both Houses shall deem it necessary, shall propose Amendments to this Constitution, or, on the Application of the Legislatures of two thirds of the several States, shall call a Convention for proposing Amendments, which, in either Case, shall be valid to all Intents and Purposes, as Part of this Constitution, when ratified by the Legislatures of three fourths of the several States, or by Conventions in three fourths thereof, as the one or the other Mode of Ratification may be proposed by the Congress; Provided that no Amendment which may be made prior to the Year One thousand eight hundred and eight shall in any Manner affect the first and fourth Clauses in the Ninth Section of the first Article; and that no State, without its Consent, shall be deprived of its equal Suffrage in the Senate. http://algoxy.com/ows/strategyofamerica.html