Here’s a Yahoo article from Time by Stephen Gandel, “Bulldoze: The New Way to Foreclose”. Gandel states near the article’s end;
Certainly, the idea that we are at the point where banks would be better off knocking down houses that reselling them shows there is still something very wrong with the housing market. But what is clear is that banks and others are at the point where they are ready to try something new to boost the housing market. And that is a good sign for the future.
Really? Wow. Bulldozing will “boost the housing market” or “is a good sign for the future”? Talk about clueless . . . then again, who owns the media?
Push dubious sub-prime loans on consumers, collect fees/points from consumers, illegally fail to pay fees to county title recorders via MERS, illegally break up and resell the same bad loan to numerous investors, hedge these same loans to collect BIG profits because the loans were set up to fail, collect interest, payments & foreclosure fees from the homeowners, collect bailout $$ from U.S. citizens, resist any loan modifications, then bulldoze these homes.
Can you say “loot and pillage”?
Seriously, how is stealing life savings, evicting millions of families from their homes and bulldozing them any different from the pillaging done when one country is invaded or conquered by another?
And all of this is being done with the sanction of a government you and I elect and pay, in order to represent OUR interests.
Ask yourself, “For whose future is this a good sign?” Who benefits?
At last check, within hours of appearing on Yahoo News, this article garnered 6,531 comments – overwhelmingly negative. Most along the lines of “Bulldoze the banks!” Maybe people are beginning to wake up.