Thursday, June 30, 2011

Yes, call me a socialist sympathizer.

I notice that Wells Fargo and Bank of America aren’t offering reverse mortgages any more. Because of the uncertainty in the housing market. It might jeopardize the amount of the bank’s profits. There’s no risk that the banks actually would lose money. Because the mortgages are backed by the Department of Housing and Urban Development. The reverse mortgages are intended mainly to help senior citizens stay in their homes. Interesting, isn’t it? Wells Fargo and the Bank of America have no interest in providing a service that’s intended for the common good. Because the profits ain’t big enough. That’s why we need government, folks. A government that works for us. The common people. The middle class. The poor. Because the bankers couldn’t care less. They are in business to make bankers obscenely rich. And to hell with the common good. Same goes for the big insurance companies. And the oil companies. And so very many private corporations around the world. It’s important to remember that they are in business to make money. To widen the gap between the rich and the poor. Little wonder that I’m pro-government. Yes, call me a socialist sympathizer. I'm proud of it. –Jim Broede

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