Why Hasn't De Marco Been Fired?

Editor’s Notes: It is already well -established that write-down of principal is the only sane thing to do in these circumstances. De Marco standing as head of of the GSE’s refuses to consider that and even refuses to push for modifications, preferring foreclosures instead. Foreclosures are what is killing the economy, destroying lives and providing windfall upon windfall profits to Wall Street. Who is in charge — De Marco or Obama?

He is still talking as though there are deserving homeowners and undeserving homeowners. In any PONZI scheme, there are people whose greed is more than other “investors.” But they are all treated the same when it comes to getting restitution. It’s time to level the playing field. Fire DeMarco and start forcing modifications and settlements where people can pay some reasonable amount of monthly payment on a reasonable balance that does not carry forward the appraisal fraud at origination of the loan.

AND by the way, when will Obama or Romney address the criticism that they are not talking about foreclosure, which is the elephant in the living room?

occupy-homes-others-demand-foreclosure-action-freddie-mac-chicago-headquarters

Tags: appraisal fraud, De Marco, Obama, principal reduction, Romney
Posted in bubble, Corruption, Eviction, securities fraud |