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Monday, May 24, 2010

You Think The Great Recession Is Over, Think Again

In April, 2010, banks seized 92,000 homes (an all time record), and another 7.4 Million borrowers have missed one, or more, payments, or are already in foreclosure.

And remember all that money we gave Wall Street banks to ease foreclosures? We gave JPMorganChase $25 billion to be exact.

Well, here is how it is being used at JPMorgan Chase. On April 1, 2010, they held 431,000 delinquent loans. But they have offered loan modifications to exactly 31,460.

You can't make up stuff like this.

Like Casey Stengel said, "It ain't over until it is over!" And The Great Recession ain't over, and don't let anyone tell you otherwise.

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