Marion Brothers

Marion Brothers

Wednesday, November 28, 2007

Predatory Lending by Trickery and Minority Proxy Silenced

Congress is very slow in stemming the bleeding of the poor homeowners who are victims of predatory lending practices- (usury by trickery). The working class can purchase a home for little or nothing, and enticed to purchase over their financial heads, which has lead us to the record number of foreclosures and a collapse in the housing market.

Needless to say that the rich keeps getting richer and the poor keeps getting poorer. But the cumulative effect has broken the elasticity in the economy where rich and poor were shades of the same rainbow, there is now an absolute dichotomy between the haves and have nots as stark as night is to day, black is to white.

Like kingdoms of the past, they build mansions and fortresses and dig moats and put up high walls around themselves. They bought up all the property and forced the people into serfdom, employment by contracted service. They live in a gilded world, as the prophet Isaiah describes as “them that join house to house, that lay field to field, till there be no place, that they may be placed alone in the midst of the earth”. Call it the isle of the supper rich.

How did they get rich? They devour poor widow houses, through predatory lending.

And, what of these corporations to do such practices, the financial institutions now going in and foreclosing?

Capital has no conscious, and neither does its board of directors. But people still have a conscious. Shareholders have a conscious. But if the SEC goes in and cuts off its voice through proxy, Capital will continue eating up the working poor.

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