Geithner: Elizabeth Warren an ‘Effective Advocate for Reform’

The interesting thing about the Elizaberth Warren story is how the President wants to utilize her for the next 6 years (yes, you negative naysayers, the President will be re-elected). Does he “vbox her in” by putting her in as head of a smaller agency or utilize her “intelligence capacity” in a bigger picture way. She is a real talent.

You expected him to go against Obama?????
McChrystal tried that. Precedent has been set.

Elizabeth Warren is obviously the only one that GETS IT!!! She has said all along that an order to stabilize the economy and to stop the increasing numbers of foreclosure !!! banks had to modify homeowners No Choice, split responsibility for their predatory lending “No get out of Jail card for Free”, reduce principal reduction to current market value, this way the homeowner gets an opportunity at a lower mortgage, stays in the home and property taxes are paid, less public officials like teachers, fire fighters & police man are not laid off, neighborhoods are less vandalized and the economy stabilizes, and homeowners are less likely to redefault. Simple Math!!! i hear comments like why should we praise the irresponsible borrowers, i say…why should we praise with stimulus money the irresponsible lenders. We the homeowners did not self approve our mortgage!! i have a case of a senior who paid $170,000 for her condo, lived there for 6 years and her ours have been reduced, did not qualify for a modification and was told she needed to short sale, which the bank is selling this same condo for $90,000…Let’s see, is there something wrong here?? banks rather throw this senior out on the streets rather than to reduce her principal to $90,000 which in turn maybe is something she is able to afford than the $170,000,but rather sell it for less, and does not want any of her family members to purchase it. Is there something wrong with this Great Nation!!! where we can spend Trillions of dollars to third world Countries that could care less of the Americans, but we have the highest rate of Homeless, because….banks were not forced to work with the homeowners, this is why sooooo many unemployed the numbers have skyrocketed, if you do not fix the mortgage like Elizabeth Warren said from day ONE!! by this means, keeping them every way possible in their homes…the economy will only get worse, No Rocket Science…more for Section 8, more for non profit organizations because banks cannot do the jobs right.

Elizabeth Warren should run for governor of her state and then President. She is smart, moderate, loaded with common sense, and articulate. Qualities that, unfortunately, probably disqualify her for elected office in today’s U.S.

Warren has spoken out about the death of the middle class.
If she sticks to her shtick, Obama WILL replace her… Enough said.
This is a PR move. If she trys to actually help people, and hurts buisness (bankers) she will be thrown out on her ass.

Elizabeth Warren is a great Candidate she for seed that even with the amount of stimulus offered to the banks our nation was not going to stabilize, unless the mortgage crisis was fixed. Everyone can go on and on…..but at the end of the day. We all know that we need to target this area with force. #1 For those homeowners who are redefaulting although they were given a modification the explanation is very simple math. Lets get back to the basics 101 – In the past, an order to get approved for a home mortgage the decision was based on your FICO score and debt-to-income, some banks use net others gross. Your DBT had to be within a range no higher than 38% or 39% for approval, meaning you had enough cash flow to survive and pay other bills.
With the HAMP program, your new mortgage payment is based on 31% of your gross pay, not taking into consideration any other debts you may have, “This is where the Program FAILS”. If my new HAMP is 31% of my monthly gross and my new mortgage payment plus my Back End debts bring me to a debt to ratio of over 98%, clearly this is a sign that it is heading for disaster, which is 95% of our current scenario. . Not only are they trying to make the payments, but by having such a HIGH DBT they see themselves with no choice but to file bankruptcy chapter 7 & 13, which brings the dominoes’ effect… because this plan took a different approach as a criteria. Remember Citizens need to live, to eat, pay utilities, miscellaneous bills, insurance, gas, some just basic necessities, this is the MAIN REASON they re-default!!! No Rocket Science… Banks should not be given an option to modify homeowners they should automatically reset their payments based on principal reduction to their current home value, you may think I am crazy, but NO!! Think about it, every major country and county is feeling this ripple effect, teachers are being laid off, students are forced in crowed classrooms to make budget, some electives are being eliminated to cut cost, we shouldn’t cut anything out of our educational system… then to say why kids drop out or that they are not passing the FCAT, blah, blah… it is like a double standard. Our cities/counties are laying off firefighters, police officers, some hospitals have laid off nurses and doctors, everyone is suffering, because one more unemployed brings less income to our economy, one more home in foreclosure, more credit card debt in bankruptcy, no property taxes being paid, less tourism, no one is spending, shops are closing which means more lay offs. Solution: Banks that were found guilty of 70/30, 80/20 & interest only loans, have no option by to reduce mortgage principal, modify automatically, just like they increase mortgage payments every 6 mos in the past, they could reset mortgages to a new lower payment. Many say…banks/investors are not going to lose $$, WAKE UP CALL, they are losing billions, there are over 3 to 4 million homes foreclosed, vandalized, banks are selling these mortgages @ pennies on the dollar just to get it off the market, so why is the GREED, in the long wrong they would have to actually give these homes away, Stop and Stabilize the market, work with the American People, UNITED WE STAND…DIVIDED WE ARE FALLING INTO A DEEP HOLE.
Vote for Elizabeth Warren

it’s clear that whomever stands on the other side of the distinction drawn
between the law the Consumer Protection Agency is to regulate does not want
someone that is either balanced or from the people’s side.
regulators are, but should not be, captured by the industries they are
designed to regulate …with Elizabeth Warren the people, as anyone who has
been paying attention can clearly see, stands with us not against us … does
not stand with the banks but against them …
it is that clear .. the banks want one of their guys in and are not happy
that the President is being pressured by the people to select someone they do
not want in the position as regulator … she proved her stripes as the TARP
COP ..anyone paying attention knows this ..
our government, I thought, through conditioning I suppose .. was formed so
that we the people would push up into positions of power our representatives
.. but from where I sit our government has morphed into some thing that has
folks pushed down from Power above into these positions of OUR government.
the people’s voice, on a percentage basis, is not “heard”, lobbying $’s get a
greater input response than we the people’s faxes to our “Representative”
political class.
how do we affect this CURRENT balance of power? .. with an amendment to the
constitution that would allow for national referendums ?
with national referendums, it seems to me we the people could counter the
influence
special interests have over our political class.
a vote by the people on legislation the people have an interest in, written
from the people’s perspective; not written by the industries the legislation
is designed to regulate,as we have now.
I think but what do I know … if the requirement to a national referendum
would be getting 250K signatures from residents in 16 different states 4
million signatures total that would be
1% ish of the total US Population.
with this kind of influence/power/RIGHT we will be heard during the process.
else we veto! compromise w/ the people
anyone who has been paying attention sees the balance of power between the
people and the powerful banks and multi-national corporations is weighted
with greater influence towards them and not us … in how our politicians
legislate
National referendums allow WE THE PEOPLE a weighted input response to the top
down influence of special interest as EVERYONE finds the mainstream of OUR
time.
freedom gone wild is not an option so since the beginning of time some
centering has been going on, now we the assimilated are pushing for a
weighted input response to centering.
Everything changed after 911
Everything changed after the global financial crisis
Everything changed now that we “have” global climate change
there are more lines as you know but these are in the “news”
who keeps drawing these lines of distinction and deciding how we all,
EVERYONE (THE GLOBAL ELITES INCLUDED), are to coexist.
Top down is not in sync with the people as the model.
Elizabeth Warren is a step towards people having some meaningful influence.

I agree with the homeowners! These big banks are guilty and should have to pay. All of these banks recieving Billions of dollars is wrong! This money should have gone to the HOMEOWNERS, and the people that have lost their jobs due to the iresponsibilty of these Big Banks and Wall Street! Why is our Government rewarding them? Why aren’t they forced to reduce the principles on all of these loans between 2005 to 2007? Why don’t these same 4 to 5 MILLION homeowners get together on one Website and start a class action suit against all of these banks? That would keep all of us in our homes, help us get back on our feet, get jobs, and save communitys. All these banks are doing is causing more homeless Familys, and lowering the value of our homes and communitys. How can we ALL GET TOGETHER AND FIGHT THESE BANKS?