News & Observer | newsobserver.com | The real delinquents

Published: Jul 23, 2008 12:30 AM
Modified: Jul 23, 2008 06:05 AM

The real delinquents

 

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As millions of ordinary people face or experience home foreclosure, why is their pain not shared by the fat cats who originally made sub-prime loans? The lenders originally jumped at the chance to earn higher fees, interest rates and bonuses for making loans they knew the borrower could not repay. And yet these near-criminal lenders go free instead of being prosecuted for their greed and fiscal irresponsibility. They are the real delinquents and need to share the losses now felt only by those poor saps who never understood what they were doing.

Government that looks the other way when the poor are victimized is no government at all. It is an organization that helps the rich and powerful maintain hegemony over the underclass of society. In the upcoming elections, ask candidates whether they are ready to serve all the people and not just those who give them big bucks to continue their exploitation.

Joe Di Bona, Timberlake

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