EARL NASH BASH
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From recent rampages in Orlando, Fla., to mortgage-related torture in Los Angeles, certain members of the citizenry seem to have had their fill of being manipulated for the financial gain of others, and they're firing back with force.
"But clearly people are really mad about what's happened to them. This is the kind of thing that happens when lenders don't lend responsibly. You can't abuse your customers forever."
The disturbing blowback from that growing inequality, mirrored by an ever-growing gap between the rich and the poor and a true national unemployment rate around 17 percent, can only get worse.
Wall Street titan Goldman Sachs peddled billions of securitized mortgages that it knew were toxic, and then capitalized on inevitable foreclosures through murky subsidiaries tasked with kicking distressed homeownersonto the street.
The callous practice was good for Goldman's bottom line: According to a recent report from the National Consumer Law Center, there's more money for mortgage companies in foreclosures than in loan modification.
