26 Feb Bankruptcy in Florida: Carmen Dellutri’s 2008 Predictions Part II
As consumer bankruptcy attorneys, the members of this network are on the cutting edge of bankruptcy issues, and more importantly, we see the latest trends and issues that consumers see in debt collection, mortgage fraud, credit card abuses, etc. Well the two most common used words in my offices in 2008 are CASH ADVANCES. It seems that an overwhelming amount of new client intakes have issues with cash advances. When I say an overwhelming amount, I mean the number has quadrupled in the past two months. Quite frankly, there is a serious liquidity problem in Southwest Florida. My clients are suffering so badly that they have no alternative but to use secondary financing to keep their heads above water.
It seems that very few people have any real money these days. Couple this with resetting arms, sky high gas prices and insurance premiums and jobs fleeing the state faster than Hilary Clinton’s chances of winning the Democratic Presidential nomination, and you have the perfect financial tsunami. After another turbulent day at the office, I get home and turn on the computer to find out that the FDIC is hiring more bodies to deal with potential bank failures. The FDIC anticipates that 100 banks will fail in the next 12 – 24 months. 100 Banks – Holy Toledo, Batman, where are these banks located. Well, Ohio and Florida are two of the prime targets. I think I made a deposit today. Oh, not to worry its FDIC insured. Yea, I feel much better now. This tells me that the banks don’t have any money either, or they were careless with the money that I trusted them to hold.
If the FDIC thinks that 100 banks are going to fail, then I will say double that because, let’s face it, the government underestimates the cost of everything (Iraq War) and can we really trust anything that they say anymore. Our Fed Chairman Ben Bernacke still doesn’t believe that we are in a recession. Yea, and Bill Clinton did not have sexual relations with that woman either. I’m tired of being treated like a mushroom. Give us the facts, we can take it. We live in a Country that is 9 Trillion Dollars in Debt. We know that this mess is going to take another Trillion or so to bail us out. Maybe we can get a loan from the Google Guys. Or, maybe they can start buying the Government’s assets like the national parks or the Mints. It’s ok, we will call it a strategic re-alignment of assets, just like Citibank is doing.
I guess it was time for the citizens of this great nation to follow the lead of our leaders. When they run out of money, they just print more. When we run out of money, we just charge it. Well, it’s time to pay the piper, and it is time our politicians stand up to the special interest groups that have profited so handsomely on the blood sweat and tears of the American middle class. It’s time for accountability from Wall Street. Will we see accountability in 2008, I predict that we will not. Will we see our debt and deficit grow even larger in 2008, I predict we will.
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