Banks and Their Court Actions to Remain Invisible

Fannie responded to my queries, after I gave up, and referred me to a company they use to handle the foreclosures, and other real estate matters. I found out that we were rejected because there was uncertainty as to whether the new septic system could be installed in the winter. What is interesting is that the property showed back up on the market this week, disclosing the need for the septic. Their answer doesn't hold much authenticity given they are trying to sell the property again. I consider it a positive to even receive an answer of some kind.

In previous blogs, I commented on how the Treasury and banks went to court to prevent the public, us, from seeing who used the discount window during the crisis and their borrowing patterns. The appeals court said they had to show the information. Today, I saw that the banks, like Bank of America, JP Morgan Chase, Citibank, are going to appeal this to the Supreme Court. I strongly believe that transparency with these banks is essential. The more visibility we have, the less power they over us financially. Their actions using the court system is to retain that power. These banks were rescued when they should have been allowed to struggle for survival. They can still be humbled them if this information is made visible.