subject: Don't hate your neighbor [print this page] Don't hate your neighbor Don't hate your neighbor
Why is it that average Americans will get extremely angry if they think their neighbor is taking advantage of the housing crisis? Yet, they see no problem in corporations and rich people taking advantage of everyday Americans all the time? The scales are not in balance. Americans will get angry at their neighbors for considering walking away from underwater mortgages when indeed the mortgage industry, the banking industry and the investment houses are really the ones to blame.
In every financial transaction there is a winner and a loser. If we both have $1.00 and we trade no actual transaction no loser. If we both have $1.00 and I have to sell you my $1.00 for $.80 you are the winner with $1.20 and I am the loser because I now have $.80. This is what happened in the with the mortgage industry, they kept selling $1.00's that were actually worth $.50 or less as mortgage backed securities, trillions of dollars in total (yes trillions with a T). They took all their profits and the taxpayers and the homeowners are paying the bill. Shouldn't everyone that owns a home be outraged at Countrywide CEO Mozila, Bank of America CEO Jamie Diamond, Goldman Sachs, AIG, the mortgage bankers industry the Treasury, the FDIC, I could go on and on. Your neighbor, he did very little wrong in the scheme of things. Your neighbor was just trying to live the American dream just like you.
It is time for average Americans to band together and protect each other against the elite rich and corporations. Don't hate your neighbor, hate the people that profited from this scheme, they are the ones to blame.
