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Friday, January 22, 2010

THIS IS WHY EVERYONE HATES BANKS

Posted By on Fri, Jan 22, 2010 at 12:02 PM

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Bankers and mortgage lenders — do you want to know why the vast majority of Americans would vote to bring back public floggings specifically for you? Here's a good example.

WCPN's report on hearings in Columbus on whether banks should help pay for counseling for those facing foreclosure included this illuminating gem from Michael Adelman of the Ohio Bankers League:

"If I was in that situation myself, god forbid, if I was facing foreclosure, I would do everything I could as a homeowner to keep a roof over my family, and I would spend whatever resources I could pull together in getting counseling and hiring a mediator, as opposed to expecting somebody else to pick up that tabs [sic]."

Behold the cold and infinitely cynical heart of corporate conservatism. Note the either-or construct of Adelman's remark: either you're responsible and self-reliant, or you're a loser demanding a handout. And banks should not have to help losers. Lost your job? Drowning in medical bills? Wah wah. One way or another your troubles are your own fault, so pay up or get out.

The Dispatch has more on the hearings regarding funding for counseling. — Frank Lewis

UPDATE: A new report suggests that the situation is getting worse, fast.

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