I have been claiming for quite a while now that it appears that the banks believe they can make more money by DOING NOTHING when it comes to helping their own customers resolve their financial problems. The link above appears to bear out my premise.
If you have a solid, low interest rate credit card deal, and are never late on your monthly payments, you may be labeled a toxic asset by Chase Bank and other banks as well. However, If you have a bad credit score, the banks can make more money off of you faster because you always pay more in interest charges for any money you may borrow.
I believe Banks have perverted their own mission statement by going for the biggest profit in the shortest amount of time rather than being a slow but steady money maker and a pillar of their community. Rather than hire a TON OF PEOPLE at survivable wages to help resolve existing mortgage problems and failures, the banks have chosen to do next to nothing, and wait for you or your neighbor to fail. The banks are also counting on your morality and sense of honor to accept your fate and just give up and not fight them or challenge them to do more than they are doing.
I see now why Barack Obama was the wrong person for the presidency. Barack Obama was the wrong person (McCain would probably have been just as wrong as well) because his followers were younger people with less debt and less responsibilities.
If Barack Obama is incapable of helping the 40-65 age crowd, he is not the man for the job. The younger crowd that voted for Barack Obama don't necessarily have real jobs either, they just think they do, just how many computer programmers do we really need anyways?
Barack Obama won by taking the top of the muffin and throwing away the "bitter" muffin "stump", even though many of those muffin stumps voted for Barack Obama in the fall after first voting for Hillary Clinton in the democratic nomination race.
The muffin stumps are actually where all the nutrition and fiber is located, but when your goal is winning even if you are incapable of relating to the people who are relying on you the most, so what, you won, and that's all that matters.
With each passing day, we see a president that will not stand up to the banks no way, no how, and yes, this includes the credit card reform act that actually accelerated consumer problems because of the loopholes and delay tactics the banks wove into the process before the law actually takes effect.