The slow steady decline in house values combined with increasing short sales activity makes it hard to believe that the banks are actually profiting. If a loan of $300,000 defaults and the homowner sells short for only $200,000 it appears the bank takes a hit for $100,000. NO SO FAST.
Check out the video link below to get a little glimpse of what has been going on behind the scenes of our great banking system here in the US. You will clearly see why nothing “is” what it appears to “be”.
Even the Washington Mutual disaster was orchestrated for the benefit of a few Wall Street execs who wanted the assets of WaMu. This VIDEO is a just one of many examples…WAKE UP AMERICA, the only answer is to reduce debt.