Forum Post: Give specific directions to average Americans as to how to protest from home.
Posted 12 years ago on Oct. 4, 2011, 2:29 p.m. EST by zenpop
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Educate the American people sympathizing and watching from home! Help catalyze the one thing most every homeowner in America can do immediately to participate in the protest: strategic default on their mortgage.
A mass default would galvanize the banks & servicers to adjust their policies, lowering interest rates for those that could continue paying -- putting more money into the economy. The housing situation is killing the economy. The bank and investor's wet dream is to bundle all of the upcoming foreclosed properties together and sell to other investors. This is what's coming if the process isn't halted now. Educate average Americans. Give them something TO DO to participate.
http://nycga.cc/donate/
Mail The UPS Store Re: Occupy Wall Street 118A Fulton St. #205 New York, NY 10038
Bake me some cookies!!!
Cut up your credit cards. Pay off your debt and stop the vicious cycle of fees and charges that directly funds the fleecing of the 99%. Pull your money out of the stock market. Deprive Wall Street of their IV flow of your money.
A mass default would result in a financial catastrophe. Banks wouldn't adjust their policies; they would collapse. Interest rates would rise to usurious levels. There would be a total economic meltdown. 100% of people would be harmed.
Instead of 'strategically' defaulting on their mortgages, here's what people should do from home: Write to your representatives in Congress. Demand an end to the Bush tax cuts. Demand regulation of the markets. Demand that white-collar criminals be prosecuted. Demand that mortgages be renegotiated so that no one owes more than the value of their house. That's how Wall Street will be held accountable.
The word "demand" sounds like something a toddler does when she's unhappy with mommy and daddy. We're waaaaay past writing letters and receiving a robo-generated email response from our elected leaders.
Massive default: There would not be a financial catastrophe because the banks and their servicers would adjust interest rates accordingly and vigorously -- to quell the tide. Right now they have NO incentive to do so. So NOTHING CHANGES.
TAKE ACTION people; stop 'demanding' because no one is listening. We need to see action, mobilization, group movements that punish and withhold. People really do have the power, they just need to turn off The Real Housewives of Orange County and start DOING something.
This is delusional nonsense. Banks that collapse don't adjust interest rates; they cease to exist. There is no way to "quell the tide" in the face of mass default. Any incentive to change interest rates must also allow for banks to persist. That's why I favor a law that would require banks to allow people to refinance mortgages that are worth more than their property and to obtain non-usurious rates. This has already been proposed by President Obama and has some backing in both houses of congress. We don't need to destroy the economy in order to solve this problem; we just need to mobilize support for common sense legislation.
Sorry, you're misinformed. Obama might, possibly, feign this gesture to support refi incentives, but even if inacted that's only for federal backed loans. Everyone else must scratch and claw.
Here's the delusion: "That's why I favor a law that would require banks to allow people to refinance mortgages that are worth more than their property and to obtain non-usurious rates."
Ain't gonna happen.
My strategy is the correct one. Don't demand, take personal action, default now! End of discussion.
Check the link after the edit mark on this page for a working list of goals http://occupywallst.org/forum/first-official-release-from-occupy-wall-street/
and this Warning from the original Tea Party before it got hijacked http://occupywallst.org/forum/an-open-letter-and-warning-from-a-former-tea-party/