Forum Post: ** NO LOAN PAYMENT UNTIL WE ARE HEARD *** (Repost if you agree so it stays on top)
Posted 12 years ago on Oct. 6, 2011, 3:56 p.m. EST by EducImm
(11)
This content is user submitted and not an official statement
If Congress is too corrupt to break the banks, WE WILL.
Call for a loan payment strike to all the top 5 banks in November.
We want the banks to:
- Refinance mortgages at current market value
- No student loan payment for 1 yr or until you get a job (which ever comes first)
- STOP FIGHTING THE Consumer Protection Bureau rules
- STOP LOBBYING CONGRESS!!
We have the microphone RIGHT NOW --- Don't lose the opportunity!
have fun watching the repo men take your home and car away. A loan is an agreement. If you didn't read the fine print and ask questions yourself, then that's your problem. It's not like someone will lie to you when you say "What does adjustable rate mean?"
Move-On is, or was, pushing for a total forgiveness of student loan debt..that sounds like more of a progressive move.
we definitely don't need people reposting this. theres already a problem with scrawl, this is not even worth a single posting or thread.
no sorry bad idea, you will only windup hurting yourself and your family.
You're nuts. My credit score is almost >800 across the board!
Credit ratings are another hoax that need to be reigned in. Should I really be tickled pink that I am solvent when the system that I am beholden to is not?
That hoax got me a low interest rate in the house that I'm writing this from. Same goes for the Toyota FJ I purchased in June 2011.
I make x 2 or x3 on the on CC I have.
The hoax determines who is a good RISK and who is NOT. That was the problem with the stupid Affordable Housing Act that set this hold shit sandwich up. Banks forced to make loans to people who could not afford. As a consequence of making shit loans, they had to make mone (legally) through instruments that packaged the loans the KNEW would be defaulted on. Problem is, all the shit birds that took out that loan (either in a house they could not afford..or or to flip) defaulted in a tight timeline.
There you have it. Gov't unintended consequence of providing loans to people whom before this would have been REJECTED.
I'm not saying banks are completely guilt free..they leveraged their risks; however, I am saying that it all started with Jimmy Carter. Which is a fact. Just like Frank and Dodd saying that Sallie and Fannie were solvent, just weeks before they were put into receivership.
Facts are cold..but facts be facts.
BTW, the system is solvent; however, the fuse is burning. Cut spending..sorry to say it..but I pay a great deal in taxes. I buy things that employee people. Tax me more..and I will stop.
That is absolute bunk, banks were not forced to make affordable loans to anyone, they aggressively pursued minorities with the sub-prime scam. Over 60% of the people who were offered (and took) sub-prime loans would have qualified for a traditional mortgage. The Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association Corp did NOT start with Jimmy Carter. Various banks were said to be solvent just before they went under.
Mine is in the 700's, what's your point?
It's because you either have very minimal to no revolving debt, or you make enough to comfortably pay them-- Same here dear. And what will one month of non-payment do? bring it to 780? your sky will fall with that?
This is about making a statement -- and sacrifice. Just that lack of cash flow will have a huge impact on the banks. Those people sleeping on the floor in the cold are making sacrifices BIG TIME. If you don't want to, then that's fine, it is an idea, and with the majority of Americans with their score in the toilets...they have nothing to lose at this point.....I'm talking to them.
Excellent idea! When they evict more of us we will have more time to sit around in drum circles to show our dissatisfaction. I especially recomend this tactic for people with families.
People with families are being ousted out of their homes and into the streets...are they less worthy of regard than those who have homes? NO. If anything has been demonstrated clearly by the status quo, it is that they care little about those in need and those who can inevitable become unemployed. I wish everyone would contemplate what they would imagine themselves doing to satisfy their basic needs of food, shelter and clothing, as well as their more complex needs. Why not occupy the economically depressed towns that dot the nation and turn those into liveable places as well?
ooohhh the banks will put us on the streets...are you serious? It is time for radical action.
Yes, I know....let's just be slaves to them right? So what happens when you lose your job and can't pay anyway? {[eyes rolling}}
Debt is an illusion - fed by your belief in money. There really IS no debt, either way, you're free. Start imagining a world without debt-ridden money, without abuse, greed, destruction, war - start thinking harmony. One world, one love. I'd gladly work hard for a world like that, I'd give all I have.
I agree with you and what you said is very pretty and all, but people aren't like that. People are greedy and destructive and all of that, so, unless your talking about some 1984 or Brave New World stuff, nothing will change. The debt that we have now is, somewhat, an illusion because we borrow from the Fed who creates the money from nothing and lends it to us causing us to be in debt to them. The thing is, that money is not real money and cost them nothing to make, so in essence we have no debt to the Fed. Also, income tax is illegal, just saying.
In my modest view this is why it's important to see the OWS as a spiritual revolution. We're not here to enrich ourselves, you can't take anything with you when you die. We're here to take care of one another and of our beautiful planet, greed is obsolete and something of the past. But yeah, people are greedy, and most of them don't yet have a clue about what is going on and what's it about. But eventually they won't have a choice but to join us - or turn into salt pillars :)
Maybe this is the hardest part: look into ourselves and face our fears and our inclination to blame the other guy. Once you accept your own shadow there is no more 'them bad guys', only forgiveness. Having said that, Jesus himself kicked the money changers out of the Temple, he really wasn't very forgiving then, and that's what we need to do also, first things first. This whole world should be a holy place, but the usurers have dessacrated it, and we have let them... until now.
steps off soap box
:)
I like what you say, it's very peaceful, but I have to say leave religion out of anything we do. Religion is just another way people around the world get divided. Now if your saying we should just be spiritual and enlightened then yeah I agree with you.
Yes, we should be spiritual and enlightened, but when you try to be, it's nice that it sometimes comes with the ability to recognise some spiritual guidelines that have been laid out for us mere mortals.
:)