Why Obama Doesn't Care About Foreclosure Crisis

Remember this campaign promise by Barack Obama?

"I will change our bankruptcy laws to make it easier for families to stay in their homes," Obama told supporters at a Colorado rally on September 16, 2008, the same day as the bailout of AIG.

Can anyone name a financial law Obama signed that protected homeowners from banks? Didn't think so. Obama mentioned the the foreclosure crisis zero times in the State of the Union speech.

JPMorgan Chase & Company was a company that hired inexperienced people to deal with mortgages. These so-called mortgage experts were known as the "Burger King kids."

The issue gained new urgency on Wednesday, when all 50 state attorneys general announced that they would investigate foreclosure practices. That news came on the same day that JPMorgan Chase acknowledged that it had not used the nation’s largest electronic mortgage tracking system, MERS, in foreclosures, since 2008.

That system has been faulted for losing documents and other sloppy practices.

Obama recently hired JPMorgan Chase & Co, Midwest chairman, William Daley to be the new White House Chief of Staff. Does anyone believe Obama intends to reform the mortgage system by hiring an executive from a highly incompetent mortgage company? News flash: Obama doesn't care if you lose your house. Obama talked about mortgage reform on the campaign trail as a cynical ploy to garner votes. Hiring Daley is Obama giving the finger to the homeowners of America.