Yes, it appears that Willie Aames may have been living beyond his means...
When the news came out that Willie was the most recent celebrity to lose his home amidst the economic crisis, self glorified establishment news commentators were quick to make snide remarks and chalk him up as another fool who wasn't as prudent as they are.
But what if he was living within his means and it was his creditors who deliberately pulled the rug out from under him so they could gain default interest? Or maybe Willie lost his money because he was cheated while investing in a stock marketplace wherein the captured minds in the Securities and Exchange Commission protect banks far ahead of protecting citizens. Maybe, instead of paying his mortgage Willie simply squandered his savings on booze and dope because he lives in a country that would rather pay to lock up drug addicts than rehabilitate them?
It’s very popular today, to think that the foreclosure crisis is simply about people buying homes or taking loans they couldn’t afford. But we ought to look deeper into the problem. We ought to look into the Wall Street orchestrated sheme wherein empty shells of mortgage backed securities were fraudulently rated Triple A, and then sold to Secondary Market investors around the world based upon the unusually high profits they were projected to return. We ought to notice that the people running those securitizations, the aggregators, sold those shell enitites, called Special Purpose Entities (SPV's) and Structured Investment Vehicles (SIV's), to the investors, and then sent the predatory terms of the mortgage loans and the quotas, to the mortgage banks, that in turn steered their unsuspecting borrowers into those terms, and then funded the loans with the money that had been collected by the SPV aggregators from the Secondary Market. As such, we ought to stick up for the distressed American homeowners who got sucked into this government sanctioned whirlpool, and we ought to deplore they way they have been condescendingly portrayed as ignorant or imprudent, by everyone from President Bush, to former Secretary of the Treasury Paulson, to to our myopic Uncle Ben Bernanke, as getting into millions of homes they couldn’t afford…
Rick Santelli on MSNBC bought into the Wall Street mindset. He was quite vocal that PRUDENT American taxpayers shouldn’t have to pay for their neighbors home improvements, or their extra bathroom that was purchased with an unaffordable equity line. This is a just large dose of Money Master Propaganda, and loudmouth Santelli at MSNBC simply knows which side his bread is buttered on... and he’s brainwashed.
We’ve all been brainwashed. Think about it. Forty-five pecent of the all bankruptcies in America are still caused by medical bills, while Big Insurance, with its stranglehold on the minds of our legislators, made out bigtime on the passage of "heathcare reform", and continues to rewrite our laws to allow exorbitantly expensive premiums, and to lawfully avoid paying the full amount of valid claims. Yes 45% of American bankruptcies are still caused by medical bills and not people living beyond their means!
Many other Americans being forced into foreclosure and bankruptcy are veterans with families, often with a wife and husband both working 14 hour days to try and pay the interest on loans that were initially affordable, but were deliberately raised by the lender pursuant to the SPV scheme, to enslave borrowers in an 80% debt to income ratio.
So, maybe for all we know, Willie Ames lost his home for some other reason than living beyond his means. Maybe medical bills wiped out his savings reserve that had previously seen him from actor’s paycheck to actor’s paycheck. Maybe he was swindled by someone like Bernie Madoff, because captured minds at the top of the SEC puts the interests of banks and helping them hide their frauds, ahead of protecting citizens. Or maybe Willie’s problem started with the banks themselves, who pay incentives to their representatives to steer people who qualify for traditional loans into unsustainably predatory loans, and then have their rating agencies rubber stamp them as grade A investments in order to fullfill the terms of the SPV's and SIV's that had already been created and sold.
For the past years, multinational financial institutions contaminated Wall Street, its counterparties, and the Secondary Market around the world, with those packages of bogus triple A rated pools of mortage securities, until all the investment bankers and their investors became so badly damaged that they lost all trust in one another, and refused to trade.
THAT IS HOW CENTRAL BANKS CAUSED THE WORLD'S WORST ECONOMIC COLLAPSE !
And we only know about the set ups that were happening on the front and back ends! What predatory schemes and global strategies were being hatched within the central bank's innermost circles? Well, we may never be able to know, because all that information is protected, once again, by the foxes that are guarding the sheep. Let’s say you are the Attorney General of Illinois and have discovered massive lender fraud in procedures devised to trick borrowers into taking loans that were designed to fail in the first place, and you, as Attorney General attempt to subpoena those bank records.
You will fail, because the State authority has been preempted by the Federal and you have no jurisdiction. You, as Attorney General for the State cannot get to see those records, because four years ago the lender’s lobbies at the highest level of our government, succeeded in changing the laws and the rules to shield federally insured banks from the eyes of state government! Now shouldn’t the State have first authority in matters relating to a fraud upon its citizens?
Of course there are people on both sides, borrowers and lenders, who cheated the financial system, or who were not prudent. But that still doesn’t mean that good Americans, who did everything right, who saved up their money to buy into the American Dream, but were instead tricked into pre-ordained subprime loans when they qualified for something better, and then cornered with eleven consecutive interest rate hikes by the Federal Reserve, should be ignored and abandoned by the leaders of our government, and by the American people themselves...
For all the rhetoric, and the trillions that are being literally squandered into the economic collapse, to sustain one bank versus another, or one nation versus another, one would think that congress could afford to significantly reduce income taxes, audit the secretive Federal Reserve, and support an honest solution, a real program, wherein hardworking Americans, who were defrauded, can have their loans reviewed and rescinded or fixed. One would think so…
But not in a world government controlled by banksters.
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