warning, major rant ahead
The Obama administration, with all of it's weighty might, the Presidency of the United States, wants to really bear down on mortgage lenders and use shame to force financial institutions to help homeowners.
....are you f@#king kidding me? Shame?
How can you provoke shame in corporate entities? They have no soul! That's like thinking one will get remorse from a serial killer. Seriously.
What happened to good old fashioned regulation, oversight and legality? As I recall the government makes the laws...right? How about plain make their current scheme, which is sucking up huge profits from late fees and foreclosures, not profitable?
God. It's like nothing is learned. If corporations had any sort of feelings, or even believed for one second their mighty public relations and marketing machines cannot trump any real information about them, including their crappy products, we already would have seen change in behavior.
These are souless profit eating predatory machines, feeding off the bodies of the middle class. Even worse, the U.S. government and courts made them this way.
Oh yeah, ya all realize Cash for Clunkers is giving incentives to foreign auto manufacturers, even though we now own GM and Chrysler.