Real slick and wicked how they do this....
Yea I read about this in Walter Rodney's "How Europe Underdevelped Africa"...He was breaking down all the Amerikkkan and European Banking institutions and others that have their current profits rooted in slavery.
1) We (black people) helped make the 'boom' a boom......... and just like with sports and entertainment they ATE good off us, at our expeience. Whatever though, we can't be mad really........... we Chose the civil rights movement and intergration over our own freedom.
2 )
lol, what do we expect.
USA Today reported that Wachovia Corporation (now owned by Wells Fargo) has apologized for its ties to slavery after disclosing that two of its historical predecessors owned enslaved Africans and accepted them as payment.
“On behalf of Wachovia Corporation, I apologize to all Americans, and especially to African-Americans and people of African descent,” said Ken Thompson, Wachovia chairman and chief executive officer, in the statement released late Wednesday. “We are deeply saddened by these findings.”
Some of my folk is tied all up in Wells Fargo right now........
homeboys had/have the power but didn't put any banksters in jail to teach the industry a lesson and show some domestic executive branch cojones.
allowed these same banksters to dole out the $700 billion rescue pkg to bonuses.
didn't insist on totally scraping those predator loans.
i don't feel sorry for those folks in foreclosure that tried to ball/floss above their means and income.
that washington post story is on some b.s. .... many of the established black folks (decades) in that area are doing ok.
glad i had a subscription to Fortune magazine back in 2004-2008 that forecasted the real estate bust.
news from Iceland
Remember Iceland's Economic Woes? Well, Turns Out They Found The Secret... That MSM Won't Tell You
Posted By: Watchman
Date: Monday, 26-Jan-2015 09:59:35
Back in 2008, Iceland was in economic shambles. They did something unusual.. they jailed the bankers and flushed the derivative toilet paper. Result? Today they are thriving and have less than 2% unemployment. Perhaps that plan will be put in motion by Greece, and followed by an avalanche of other countries.
THAT, my friends, is why the Kabal is wetting their adult diapers.
Iceland's Stabilized Economy Is A Surprising Success Story
You may have heard about Iceland’s toppling economy back in 2008. As one of the hardest-hit countries at the time, Iceland’s heavily criticized method to escape veritable economic demise actually did the trick.
Faced with the possibility of financial failure, Iceland had to think on its feet. Instead of bailing out banks USA-style, the country forgave mortgage debt for the population – and completely started over from square one.
A country with a small population of roughly 320,000 citizens, Iceland‘s entire banking structure “systemically failed” in the early days of the 2008 recession. Despite the fact that Iceland is still on the road to recovery, the country ranks high as a politically and economically stable nation. Their success over the last few years has been largely under-reported, and the story behind it is quite fascinating.
A Little Bit of Morality Goes A Long Way
Let’s face it: Icelanders are tough. They are entirely isolated, living in frozen tundra, perpetually enduring less-than-optimal weather patterns. While they are surrounded by epic natural beauty, these people aren’t spoiled; they’re tenacious.
Instead of allowing the criminals responsible for bank fraud to run free as the years passed by, Iceland thought it might be wise to actually indict bankers who committed serious financial crimes that contributed to the collapse. By paying off loans for consumers, forgiving homeowner debt (up to 110% of the property value), and throwing the offenders in prison, Iceland was able to bounce back. Now, its economy is “recovered” and is growing faster than both the US and European economies.
When Iceland’s President Olafur Ragnar Grimmson was asked whether or not other countries – Europe in particular – would succeed with Iceland’s “let the banks fail” policy, he stated the following:
“Why are the banks considered to be the holy churches of the modern economy? Why are private banks not like airlines and telecommunication companies and allowed to go bankrupt if they have been run in an irresponsible way? The theory that you have to bail out banks is a theory that you allow bankers enjoy for their own profit, their success, and then let ordinary people bear their failure through taxes and austerity. People in enlightened democracies are not going to accept that in the long run.”
Grimmson’s “famous” reply to the controversial question, “What is the reason for Iceland’s recovery?” is most remarkable.
“We were wise enough not to follow the traditional prevailing orthodoxies of the Western financial world in the last 30 years. We introduced currency controls, we let the banks fail, we provided support for the poor, and we didn’t introduce austerity measures like you’re seeing in Europe.”
Picking Up the Pieces On the Road to Recovery
Of course, though, everything isn’t all rosy. Many Icelanders have two or three jobs to sustain themselves and their families post-2008, and a sudden spike in taxes – an inevitable result of letting the banks fail – made the burden even harder to bear.
Though unemployment is down (it’s less than 5% of the population), you could say that “Iceland is a victim of its own success.” Very high standards of living and 60-70 hour work weeks create a bit of a pinch in the pockets. Difficult challenges lie ahead, but whichever way you look at it, Iceland did avert a seemingly incurable catastrophe. The point is that Iceland was criticized for allowing the banks to fail – and we now know that the disparaging remarks from scathing critics were too quick to judge.
Since 2008, Iceland has added jobs to its tourism and green energy sectors. In fact, according to the Icelandic Tourism Board, foreign visitors increased last year by 15.9% – and travel now accounts for 5.9% of GDP.
However unorthodox in its method, Iceland’s “let it fail” policy resulted in jubilation. We can’t seek perfection in the years after a global financial collapse, but we can acknowledge nations who persevered with integrity.
http://www.forbes.com/sites/traceyg...ilized-economy-is-a-surprising-success-story/
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Why Isn't Wall Street in Jail?
Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them
http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216#ixzz3Q2gregnE
so I said fukk this shyt, why the fukk would I continue sending my investor profit and I am not getting shyt back...so I short sale it before I'm old and cripple still paying for a property that is not going to give me a cent back.
this shyt got me so heated right now...
I'm going to put it like this for those you are quick to say, you shouldn't buy more than I can afford
muhfukka I could afford my townhouse in Montgomery County...I bought it below value with like $70K in equity back in 2006...then that shyt tumbled...this is not a predominantly Black neighborhood but its mixed with Asians, Whites and Blacks.
shyt its still
never buying property in the U.S. again
Sound like something similar my aunt going through