I usually try to stay focused and positive about the current events that are affecting many Americans. Well, actually, not just America, but much of the world. I am going to stray off my usual course this time, because I feel that the corporate world needs to wake the heck up. I have a personal story to tell, and briefly want to address the nonsense and absurdity that many well known companies have shown in recent trends.   I am not a selfish person by nature, and have been married for many years to the woman I met in high school. We have a large family, and I am a work-a-holic.
     We have been very good with our financial decisions, but like many people I was downsized by my former employer. We meet all the requirements for mortgage modification, but Wachovia Bank has played coy and at times ignorant about the details of modifying my FHA loan. They did assist me in other areas, but without modifying my FHA loan I have a high chance of facing foreclosure. If I could work 2 jobs, I would. I currently work 10-12 hour days and often 6 or 7 days. I feel embarrassed, if not ashamed that I need Wachovia Bank’s help. I would just foreclose, but I need to show our 5 children that I do not know the meaning of giving up.
     I have read enough articles over the past few months about many families in the US and abroad which are in similar or worse circumstances. I feel your frustration and understand your sleepless nights. Don’t give up! The news outlets have reported the red tape and bureaucracy involved with getting financial help. Some government departments have even expressed frustrations. To make matters worse, some big banks who have received bailout funds appear to be delaying their processes, or pointing the finger at someone else.
     Financial institutions who publicly express their willingness to help, which I take as putting their left foot in, should invest large resources to helping their consumers, and not sit and wait, which I take as pulling their left foot out, for something magic to happen. Put both feet in, and your arms, your rear, and most importantly your head!  If credit card balances are high and some people are already strapped to make the basic payment, why would any issuer want to raise the interest rate or minimum payment? I don’t have college level Calculus, ok, I got a C, nor do I have statistics or accounting, but I don’t see the logic in raising anything right now.
     Some of those very banks, like CITI, and Bank of America received bailout funds, and in doing so obligated themselves to helping consumers. After all, it is our taxes that paid to keep them from foreclosing, right? So many promised not to raise rates and help consumers and offering to create special programs. Sounds like they jumped the whole self in. In advance of the new regulation on credit cards effective 2010, many of these very same banks, have increased rates or minimum payments to already struggling consumers. I guessed they jumped the whole self out. They must of fallen and damaged their logic when they jumped out.
     I honestly believe that either lawmakers are rushing so fast to fix as much as they can as fast as they can, that they are inadvertently creating other waves of problems. Take a breather Mr. and Mrs. Lawmaker. Ideas are can be great and very effective, when there is an honest desire to do good, discussion about the idea with others has taken place, and the idea has truly been deemed viable. Now is not the time to jump the whole self in, shake yourself about and do the Hokey-Pokey. Now is the time to act like adults and make the right choices and decisions, and learn how to play Simon-Says.