How Foreclosures Are Impacting Election Prospects

First, let’s clear out one thing: neither Romney nor Obama caused the wave of millions of foreclosures. In fact, while the Republicans are guilty of obstructionism in Congress and across the country, the most you could say about Republicans is that they didn’t do enough to stop the foreclosures. The same is true for a portion of Democrats. Wall Street created a scheme where the only possible ending was an enormous wave of fraudulent foreclosures.

Second as to the positions of the two presidential candidates, neither one has any bragging rights.

Romney in true Republican style said let the housing market “bottom out “— the market will take care of itself. That’s like saying to guests on a sinking ship, we’ll wait until after it sinks and then the natural action of the currents will bring your bodies up for recovery.

Romney was dead wrong on that, doesn’t understand the importance of housing in the economy and is completely out of touch with the idea that government is “of the people, by the people and FOR the people.” He said the same thing about the car industry and was dead wrong on that, so we shouldn’t expect any help from a Romney administration when it comes to housing, and therefore we shouldn’t expect anything more than a sluggish economy during his tenure, if he has one.

Obama has made some baby steps in the right direction but did not understand and perhaps still does not understand the scope of the crimes committed on Wall Street and is still acting as though the fall of the mega bank empires will have devastating results to our economy. Quite the contrary is true. And his estimates of how many homes he saved is about 10 times thee actual number.

As long as Obama listens to Wall Street about what to do about Wall Street crimes his policies are held prisoner to the people who ought to be in prison. And the criticism of his aloofness in dealing with Congress is justified. Not that Romney would be any better after more than 800 vetoes in Massachusetts as Governor.

So this isn’t about who SHOULD be president or who SHOULD control congress, it is about who WILL be president and who WILL control Congress.

The metrics are unavoidably simple and direct. Millions of people have been ejected from their homes. That is a fact. There are more than 10 million registered voters who were ejected from their homes. Why neither candidate has courted these people as voters is beyond comprehension. But the fact is that without registering to vote in their new places of abode, they won’t be voting in this year’s election.

The overwhelming majority of homeowners who were illegally foreclosed and ejected from their homes were from so-called minority groups. They included single mothers, some of whom were married to men fighting overseas — a foreclosure that is specifically prohibited under law, but that didn’t stop the banks from carrying out their illegal and fraudulent claims of securitization, assignment and keeping the huge profits from recurring resales of the same mortgages to multiple counter-parties.

In this group of foreclosures composed of “minority” or specially described voters, the overwhelming majority of them would vote for the President and Democrats running in their districts. But many of them won’t vote because of various reasons that either prohibited or interfered with their registration to vote — like desperate trying to find a job.

I cannot put an exact metric on it because all I have is anecdotal evidence. But from ALL ends of the political spectrum, it is clear that a high percentage of evicted homeowners will not vote this November. That could easily swing the election one way or the other. With more than 10 million disenfranchised voters (or some portion thereof), the deal is stacked for Romney and the Republicans.

Tags: Democrats, Evictions, foreclosures, Republicans, Romney
Posted in bubble, Corruption, Eviction, securities fraud |