Only State Banks Can Prevent Another Banking Industry Scam

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) May 6, 2011 -- Across the U.S., smaller community banks and credit unions remained solvent and profitable, while many of the nation’s largest banks went out of business since 2008. North Dakota’s state bank has benefited those residents and the state for almost a hundred years.

Every state has the ability to create their own state bank that would be profitable, and would meet the needs of their residents. They could issue home and business loans within their state, which would create profits for state governments that are desperate for income. The profits don’t go to anyone in the bank or shareholders, which discourages corruption.. More information, including relevant links, are available on the website www.legalparasites.net .
State banks would provide competition, which is the best way to fight the sabotage of our nation’s economy by large national banks. Lenders had pushed people to buy homes, but now they’re refusing to write loans for the most qualified buyers. This manipulation is the result of massive wealth, leading to too much power, and ultimately widespread corruption. The U.S. could suffer a deep depression if states don’t act, to avoid being victimized again by the greed and lack of accountability .

Mortgage lenders are refusing to write loans for qualified buyers and are foreclosing on homes as fast as the government lets them. Not only are federal loan programs not working, but banks are deliberately refusing to allow qualified buyers to buy homes that were foreclosed on. The result is that there are over 14,000,000 empty homes in the U.S. and a shocking number of homeless families.
It’s a national disaster which federal legislators are not willing to reverse. Neither political party has solved the mortgage crisis. Details are available at www.legalparasites.net .
The victims of the banking scam could have afforded to keep their homes if banks hadn‘t drastically increased the monthly payments, setting them up to lose those homes, by using deceptive practices.

The federal government has also failed to prosecute all those who are guilty of financial crimes which caused the mortgage crisis. As a result, there is fear that lenders will believe they are above the law, resulting in more scams in the near future.

More information can be found online at http://www.legalparasites.net

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