November 16, 2010

IN AMERICA, IT IS FAR MORE SHAMEFUL TO OWE MONEY THAN IT IS TO STEAL IT

When you meet people who are losing their homes in this foreclosure crisis, they almost all have the same look of deep shame and anguish. Nowhere else on the planet is it such a crime to be down on your luck, even if you were put there by some of the world's richest banks, which continue to rake in record profits purely because they got a big fat handout from the government. That's why one banker CEO after another keeps going on TV to explain that despite their own deceptive loans and fraudulent paperwork, the real problem is these deadbeat homeowners who won't pay their fucking bills. And that's why most people in this country are so ready to buy that explanation. Because in America, it's far more shameful to owe money than it is to steal it.
Matt Taibbi has written one of the most powerful exposés on how even the courts are willing players in one of the biggest fraud schemes that has ever been pulled, all of it with the help of both the Bush and the Obama administrations. What happens when the system is no longer protecting you? What happens?


My most favourite thing about the article? It's this...
In another case that made headlines in Orlando, an agent for JP Morgan mistakenly broke into a woman's house that wasn't even in foreclosure and tried to change the locks. Terrified, the woman locked herself in her bathroom and called 911. But in a profound expression of the state's reflexive willingness to side with the bad guys, the police made no arrest in the case. Breaking and entering is not a crime, apparently, when it's authorized by a bank.
I would advise those who are not in foreclosure and have somebody breaking and entering to do the following: shoot the motherfucker.

They deserve it.