Forum Post: Corporate Corruption
Posted 13 years ago on Oct. 31, 2011, 9:08 a.m. EST by rfrank22
(2)
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I am one of those who fell victim to a predatory loan. We refinanced and now 11 years later with my property value very low and no chance of ever really owning this home I am waiting for the summons. I am surprised they have not yet took me to court. I am 7 months behind. I have a wife with C.P. and a 15 year old son and 18 month old son as well. I am afraid and waiting for the inevitable. I hate this capitalistic society I live in that's full of corrupt politicians. There needs to be Morality in Government. Richard
Here's one for corporate corruption> The company I used to for. Their C.E.O. asked his board for a raise. They formed a committee of his pier C.E.O.'s from other company's to see if he needed one. They naturally said yes, he was underpaid. He then was free to sit on their investigative committee's to get them a raise. Some racket
Again, The loan I believe was done illegally. Who are you by the way? Are you an infilatrator on this site? Are you against the #ows movement?
What makes you think it was illegal? The fact that you can't repay it?
Go to: http://www.propublica.org/ They have done an enormous amount of investigation into the housing market scams. They have a great "library" of articles you can research and tons of intelligent comments by readers who have experienced your own. Good luck!
Listen its simple. The loan had rhetoric I could not really understand!
Then you have no business making such agreements. In other words, it's still your fault.
Of course I refinanced but I made the mistake of not properly going over the Note and other documents. Like many of was ignorant of the process.
YOU made the choice to refinance. How is that making you a victim?
To hchc, and why would any NEW party be immune to the problems of the current parties without a massive overhaul to the entire system anyway?
To Richard: Good Luck man. If this keeps up, Im moving to England if I can afford it (Wife is from there), and if not Canada. But seeing movements like OWS Spring up gives me some hope that things aren't totally lost. Help us conquer civic apathy in our society, and maybe we can prevent this mess from destroying our world, and maybe save a repeat mess.....
help for party X and get rid of the status quo
Solutions is simple. Start finding people run outside the D/R duopoly. Congress has a ton of power, but both parties are corrupt. Get rid of them.
Predatory loan? You mean you took a loan that you knew you cannot pay back for instant gratification?
I love this argument. "If you hadn't taken the loan, there'd be no problem!"
We live in a society that says "Get a loan, get a mortgage!" We're told over and over again to do these things, and so we go to the institutions that do this for us. We put our trust, and faith, in Banks and Government loaners.
We ran under the assumption that they would loan money with our best interests in mind. College loans are justified because they lead to higher paying jobs. Mortgage loans are justified because it is the same as buying a house in the future, but earlier.
What we got was a corrupt loan shark giving out loans with the full knowledge that the system would default. I do think that those getting the loans have a certain amount of responsibility, but only as much as someone who has a prank pulled on them does.
That's what this all is. A massive prank.
"Society" also says to get knocked up at the age of 14 and wear oversized sunglasses, it doesn't make it a good idea.
Again, it's called personally responsibility. Google it.
So, in your mind, if someone tricks you, then it's your fault for being tricked?
Quickly signing a contract that you haven't read because you're excited about the end result of getting the money isn't being "tricked". It's cute how you guys cling onto words like that to avoid admitting that you have no financial discipline. Fraud is illegal, giving somebody a loan is not.
Oh yes it is a trick "smartguy". You are given everything at the signing and everybody involved wants to go to lunch. The reading of every single page is impossible at the signing. Stop being so self-righteous. I applaud you for being so responsible and perfect. I surely do not believe you have gone through life without making a single mistake! Be real man and have some understanding!
Not reading a contract isn't a "mistake", it's deliberate laziness combined with stupidity. Quit blaming everyone else and take responsibility. You sound pathetic.
I suppose all I can recommend to you is to watch the film "Inside Job." It goes over this pretty thoroughly.
No it doesn't.
No I took a loan because I needed to pay outstanding bills.
Still your own fault. It's called personally responsibility. Grow up.
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Who are you guys? Just asking?