May 19, 2011
Hello - I was affected by the financial collapse through my significant other. His wages were decreased, HOA fees increased phenomally and eventually loss of his house due to big banks unwilling to listen, talk or renegotiate any type of deal. They didn't even listen. You would get a phone bank and lost in the maze of continuous paper work, until the inevitable -- finality of foreclosure.
This was a humiliating and degrading experience. The banks were unwilling to co-oporate or take any interest in the situation of the the home owner. Then they used the mass amounts of money set aside for homeowners to create phone banks of people reciting a similar line every time they were contacted.
Wall street and big banks need to be reigned in and learn to be disciplined. Obviously this isn't going to happen on the "Good Faith" policy, so Washington needs to impose stricter rules for them to follow. We the People, need You the law makers to do such things as change the incentives so they don’t collapse our economy again by delaying the bonuses for three, five or more years. That way, we’ll know if the loans they made in year one remain good. In the bad days, bankers paid themselves on the volume of loans (mortgages) they generated, not on their quality.
Thank you for taking the time to read and consider my comment.
cheryle easter