A Conservative View

Praying that Donald Trump can save America in 2024!

Archive for the tag “banks”



My thirst for knowledge has been enlightened over the past three weeks by watching the spectacle of the “Useless Idiots” in Zuccotti Park in lower Manhattan. Until this week it has been hard to locate anyone of stature other than President Obama and Queen Nancy Polosi that have openly praised the damaging results. Now these unwashed hippies have been joined by the professional protesters from the AFL-CIO’s 56 unions and the SEIU. This earth shattering support has now encouraged all Democrats to speed up the process of making America a Socialist Democracy. They have married up with the “Useless” to neutralize the Tea Party movement and play close attention to what they are promoting rather than what they are protesting. There is more relevance to examining not just “what” the protesters are protesting but “what” they are promoting.

What is Collaboratism?

Collaboratism was described by one of the hooded protesters as “the dividing of society into smaller groups and making decisions unanimously.” Equate this with the word collaborate in Webster’s dictionary which is, “to work jointly with others or together in an intellectual endeavor to cooperate with or willingly assist an enemy of one’s country and an occupying force.”

This “Woodstock on the Hudson”, began with protest of capitalism and free-markets against banks and corporations for destroying America’s economic system. Everyone needs to get acquainted with what the end goals will really destroy. This “Useless” group is made up of  a hybrid of hard-core Marxists, from the leftist unions, to socialists and actual Communists. I have read that the real objectives include the seizure of workplaces, businesses, schools and the de-privatization of everything,” The AFL-CIO’s more moderate goal is a worldwide tax on financial transactions. There is also an unofficial  list of demands that will scare the daylights out of any sane American.

A variety of videos on the internet, as well as blog posts,  have included numerous references to “People’s Assemblies” and “General Assemblies”,  in every city, every public square and every township. In reality, this is democratic collectivism taken to its ultimate form of power without authority.

Democrats and unions have wholeheartedly embraced the “Useless Idiots” protests and should wake up: Under the system being exposed there is no place for you. You will join every politician by being out of office and out of power in a leaderless society. This movement you are backing will destroy our capitalist system and freedom for all Americans including you.

Watch for Part 3, “THEY CAN SAVE THE WORLD” on October 12th.

C Brewer



Let me share some interesting facts that I was not aware of probably because the news media in the USA is wired to promote bad news rather than help find the reasons we have serious problems. I found an article written by Lita Epstein a real estate publication that should interest everyone who is concerned about the billions of dollars likely wasted in the US real estate fraud. Congress calls it a crisis caused by financial companies when in fact they caused the waste and still hide behind their shield of “Royalty” status and point in every direction but themselves. This is just another reason that term limits are the only solution to provide sanity in Washington. When will we stop this facade? CB

Canada’s homeowners are less likely to face foreclosure? Fewer than 1 percent of Canadian mortgagess are in arrears, compared to the 2.9 million homeowners that received foreclosure notices in the U.S. in 2010.

Your first reaction is to say there are a lot fewer Canadians, and you’re right. Canada’s population is just 34.3 million, while the U.S. population now exceeds 307 million. But foreclosure rates are as high as 20 percent in the hardest hit states, so population alone does not explain the difference.

“Canada avoided the housing bubble that the U.S. has endured. Why, common sense banking practices in Canada. Canada has stricter underwriting standards, and the banks must set aside more money toward potential losses if the market takes a downward turn. Also, Canada has no secondary market for mortgages, like Fannie Mae and Freddie Mac, which means banks can’t sell off their risky mortgages, so they don’t make them in the first place”.

The banks more conservative regarding lending, but private mortgage insurers have more control over mortgage approval. A Canadian who puts less than 20 percent down on the house must pay the full cost of mortgage insurance upfront; and the mortgage insurance company has the authority to approve or reject the property appraisal. This gives banks and buyers a strong incentive to get realistic property appraisals.

“When people apply for a mortgage in Canada, there are some significant differences to the type of mortgage they’ll get. Most Canadian mortgages are for 25 years, and the interest rate readjusts to the current interest rate every five years. This encourages Canadians to pay off their mortgage faster. There are also substantial prepayment penalties that discourage refinancing, especially to tap equity”.

Canadians don’t get a tax deduction for mortgage interest, so they don’t have an incentive to keep paying on a mortgage. The U.S. tax incentive for mortgages may soon be reduced as part of the deficit reduction efforts to be considered in this Congress.

“If you have a mortgage in Canada, you can’t just walk away. Canada has full recourse on mortgages, which means you must pay off the mortgage even if the bank forecloses on your home. If the bank forecloses and the house is worth less than the mortgage, the bank can sue for a deficiency judgment. The bank can then attach a lien to other assets and garnish future wages. Some states in the U.S. are full-recourse states, but others, such as California, are not”.

Canada does not encourage homeownership for low-income households. Instead the Canadian government provides public funding for low-income rental housing. There is no subprime lending in Canada. Sounds like common sense!

Prior our government relaxing the rules, created Fannie Mae and Freddie Mac that led to the the boom years, banks required information to prove income and held to strict income standards. Banks also held appraisers to higher scrutiny. That’s what Canadian banks continued to do, while the U.S. lowered their underwriting standards.

Lita Epstein has written more than 25 books including The Complete Idiot’s Guide to Personal Bankruptcy and The Complete Idiot’s Guide to Improving Your Credit Score.

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