bostonbubble.com

[comma]

Hey all,
I've been lurking on the board for a while and I posted a couple of times a little over a year ago. I am writing a grad paper on the foreclosure "crisis," and I'm trying to at least mention all of the different agencies/government bodies/etc. that could be or are involved in trying to deal with the situation. I'm looking for suggestions as I am a bit fried from too much caffeine. Off the top of my head I can think of (outside of the legislature and courts): FDIC, Fannie Mae and Freddie Mac, the Federal Reserve, and the SEC. Any others come to mind? Any suggestions would be useful. Thanks a bunch.

[john p]

I think I'd base the research on a value structure. In the early Bush term, they pushed an "ownership society". They pushed people to buy and actually gave pressure to lenders that didn't approve certain people.

I'd look into Deval Patrick and Ameriquest. On his "Wilkepedia" page it implies that he was responsible for a large settlement for the poor people. The trouble is that he was being paid by Ameriquest and was on their Board. He was wearing the Ameriquest uniform. He was being paid by Ameriquest to represent the position of Ameriquest not the poor people. He was on the side of the predators. Think about it, a group like Ameriquest most likely knew they were ripping off minorities so they say, let's get a greedy minority politician who isn't loyal to his race that will be our public facing front man. He was most likely the token minority that was bought off by rich predators. He signed right up for that role and took the money. His lame argument was something like, it was better to fight the predatory lending from the inside. This argument is bogus; he was paid well, he was Judas to his people and he should have known that rich predators were getting rich off of his people. Now his good buddy Obama claims that he thinks we ought to go after predatory lenders; why doesn't he go after Deval Patrick? If predators can tap dance away like Deval did, how would we prosecute anyone?

In addition, I'd collect quotes from politicians (lawmakers that make policy) during the times when leadership was needed. I was out there looking to buy from late 2003 to mid 2006, and very, very few people said anything. Think about the value structure we need to be able to detect problems like this. Find out if this elite Barack Obama every once mentioned to his church or his people, or anyone any skill or value that would have protected them during the predatory era. He had the Harvard Law degree and the big network, why and how did he not know that predatory lending wasn't going on and why didn't he say or do anything about it either. He's now a Johnny-come-lately, but where was he when the fight was going on? Obama and Deval were given the golden tickets, they were taught by the best of the best, and when it was time to stick em up for their people, they were on the wrong side. I wish the poor people understood. If Obama or Patrick cared in the least about poor people they would have been out of breath from yelling about the predatory practice against the poor. Not only were they silent, but Patrick was one of the predators.

[admin]

[comma]

Thanks for the responses. After I turn it in, I may post the paper for those who are interested.