I've not written much the last few months due to having to deal with the medical issues of various family members and friends. Being involved with these cases has brought me face to face with two of Obama's most egregious failures to date. How? Which ones? There ARE so many!
Read on. I have to set the table first.
Over twenty years ago, a friend was audited by the IRS. Settling that debt required his selling everything he owned, including his home. He couldn't face up to that responsibility, telling us that he was going to kill himself because he couldn't take the pressure (from the shame of losing status in a consumer society?) anymore. It took two tries but he succeeded, dumping his federal financial fiasco on his poor parents, who were grief-stricken that they let their son talk them into releasing him from a locked facility after the first attempt so he could die by his own hand.
Just recently, another friend began making very similar statements (I take these remarks very seriously after my experience cited above, and am an active part of an attempt to rescue her from her personal depression). In her case, she had re-mortgaged her home every time one of her alcoholic siblings got into tight financial straits and needed a bailout, until they owed her about twice what her home is now worth. That's the thanks you get for rescuing the unraisable! Her last lender was Countrywide, which is now a division of B of A (a major recipient of Obama's TARP gift monies intended to help folks like her). B of A is giving her the runaround instead of discussing what they might do for her. First the excuse was she wasn't late on her payments - until she was just this last month. Then the excuse became she hadn't missed a payment - which is coming soon. They also tell her that once this happens, she will be on a waiting list until they can get to her, as much as 45-180 days. This bait-and-evade-until-foreclosure game is killing her.
And for this Obama squandered the national treasure? For this, Obama obligated all of the American taxpayers to cover the debts of those rash greedheads who created this mess in the first place? What justifies making them even wealthier in trade for them NOT dealing with the mortgage problems of those like my friend, whose desperate needs drove them to make poor economic decisions? We should have let the banks jump off the ledge for all the good such extended indenture has produced! We as a nation would probably be much better off! There would then be huge government credits not wasted in the latest round of executive bonuses available to redeem the bad mortgages, a beneficial effect which would have eased the national economic distress according to yet another friend who is in real estate.