Strategic Default on 60 Minutes
May 12, 2010 by christine
Did you see the clip on 60 Minutes on Sunday night? I watched the segment and basically nodded my head through the entire piece. It was filmed right here in the Valley.
I was surprised that David Stevens, Commissioner of the FHA, so blatantly sided with the banks. Disgusting…where has this guy been over the last couple of years?
If you watch the video here (hopefully the link works for you), be sure to look at the comments. I am still floored at the backlash towards homeowners who are defaulting on their loans.
Why didn’t 60 Minutes challenge David Stevens on the issues that the bank created this whole mess? There was no mention, outside of the husband of the young couple’s comment that he didn’t feel guilty because of how difficult it was to deal with the banks, of how the banks and Wall Street caused the economic mess we’re in.
What did you think?
Christine
christine@desertedgelegal.com
DISCLAIMER:
****CHRISTINE SPRINGER IS NOT A LICENSED ATTORNEY. THIS BLOG IS COMPRISED OF HER OPINIONS, OBSERVATIONS AND INTERPRETATIONS AND IS NOT INTENDED TO BE CONSTRUED AS LEGAL ADVICE. PLEASE CONSULT WITH AN ATTORNEY BEFORE RELYING ON OR TAKING ANY ACTION BASED ON THE INFORMATION IN THIS BLOG.****
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I can't believe how heartless the general public are. The banks don't care because they are motivated by greed, but these people really need to get a clue. I am walking away from my home, costing the bank – and possibly the public about a quarter of a million dollars. However bad that seems on the surface I tried for nearly 2 years to work with the banks. I would love to have a better option, but where is it? The banks were stupid enough to put me in this corner with no other option. The government were stupid enough to bail them out so they had no incentive to do business properly and smartly. I am not in a position to help the mass problem, but the banks and government are. So complain to them, not me.
There are more people who agree with you than you realize. The just don't want to post because they will probably be attacked by someone who just wants to be negative.
So right. I get the negatives every day. I don't like to support victim mentality, but we really are victims. The saddest part is that no matter how much you try to educate people to the truth they just don't care if it is not affecting them. Yet. I believe we have just seen the first wave or two of this mess. Those that don't act preemptively are screwed. I won't be as heartless with them, but I will say, “I told you so”…