Good common sense speak from a government rep - thanks Lenn for sharing and letting us know at least someone in higher government has a clue! :)
Professor Warren has been a voice of sanity among the purveyors of a preponderance of prepared, befuddled, concealing, deceiving, whitewashing and self serving statements from Congress and the Executive offices charged with representing the American home owners. Or, do they really represent us?
This morning I heard a statement from the mouth of a government spokesperson that resonated as so simple, so pithy, so true, it bears repeating.
"The American economy will not recover until the American home owners can recover."
IT WAS A VOICE IN THE WILDERNESS!
Professor Warren clearly understands that the key to the recovery of the economy rests on the American consumer. No doubt she also understands that no economy can reach the productivity goals and expectations of the prognosticators when about 20% of the American consumer has been literally taken out of the economy in order to pay for a home that is draining the life blood from their budget, by loss of credit due to loss of home, loss of income due to loss of job and so much more injury to the American consumer.
Wall Streetis not the American economy.
The banks are not the American economy.
The consumer is the American economy.
"Honey, are we going to be able to recover from our financial mess?"
"Perhaps Dear, if the folks in charge ever begin to think about us."
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.