Take a look at what Lenn has to say about Washington's latest effort to fix the mortgage jam.
Name and Shame Concept - IMHO,? . . . Since I was asked. . . .
Christine Bohn requested an opinion re her blog post, Name and Shame Concept - IMHO. Never one to avoid commenting, I'm happy to oblige. The post is worthy of a ReBlog, but, no ReBlog button. So. . . .
* * * * Opinion * * * *
THE GOVERNMENT'S SOLUTION TO THE MORTGAGE MESS?? "Name and Shame".
What utter nonsense! ! ! How completely patronizing of every home owner who has lost $Hundreds of Thousands of Dollars$ in lost home equity! ! !
One can no more shame a bank than one can embarrass a politician.
This is no more than Pablum for the masses.
I believe that the intention of this so called Name and Shame solution is to give cover to the politicians who know that they can't do anything about the collapse of the housing industry because they already took about $2.5Trillion out of the pockets of the American tax payers to transfer wealth to the banks and reimburse them for the massive losses they suffered when they created the mortgage mess to secure Billions in profits for themselves and their partners in crime around the world.
Reminds me of the "Let them eat cake" solution when the masses had no bread.
The government is so completely contemptuous of the American Home Owner that they believe that a clever cliche, "Name and Shame" publicity campaign will actually appease the American home owners.
Some of us are grown-ups and will see this pathetic campaign for what it is, substituting rhetoric for policy.
"We can relax now. I told them what they want to hear."
Courtesy, Lenn Harley, Broker, Homefinders.com, struggling with a dial-up connection waiting for Verizon to fix DSL. Still waiting. . . Still waiting.