Speaking Out Against TARP

GettingOutOfDebt — Mon, 08 Feb 2010 01:24:20 +0000

In 2006, when the subprime lending market began to implode, it sent shockwaves throughout the U.S. economy and eventually lead to a global economic decline. The effects of this financial catastrophe are still being felt today. In an attempt to bolster the economy and promote lending, even in the face of this disaster, the U.S. government created the Troubled Asset Relief Program to supply lenders with needed funding. “The point of TARP”, says Kristy Sinsara, President of the Consumer Advocacy Group, “was to ’stimulate the economy’ by giving money to ‘big businesses’.” But has the Troubled Asset Relief Program succeeded in its aim?

Many groups such as the Consumer Advocacy group, represented by Kristy Sinsara, say that TARP has failed in its objective. “We believe that the lenders have proven that they can NOT be trusted with the Troubled Asset Relief Funds set aside by the Obama Administration,” says Kristy Sinsara.

Kristy Sinsara and the Consumer Advocacy Group have spoken out against TARP, claiming that lenders such as Bank of America have demonstrated an unwillingness to use TARP funding as it was intended. “The lenders (Bank of America especially) have proven that they will only use the money for their own personal gain and have absolutely no individual homeowners’ needs in mind,” says Kristy Sinsara. “These lenders have essentially been given a blank check by our government that we as tax payers must pay for.”

If this funding has not been used to the benefit of suffering homeowners, how has it been used? Kirsty Sinsara and the Consumer Advocacy Group claim that TARP funds have been used to retain stability within the financial community at the expense of homeowners and taxpayers. These financial entities, says Kristy Sinsara, are using TARP funding to bail out or buy up crumbling financiers such as Meryl Lynch and Countrywide, rather than to benefit individual homeowners.

To sharpen the blow further, many of the executives of these failed institutions are receiving sizable bonuses or severance packages. These are the much discussed “golden parachutes” being handed out to the very individuals who’s poor decision making created this global economic crisis in the first place. It is this gross misuse of taxpayer money that has caused concerned groups like Kristy Sinsara and the Consumer Advocacy Group to stand up and voice their disproval.

Not only are these flagging financiers being bailed out, but many of the executives of these collapsed institutions are being provided with substantial exiting packages. These much discussed “golden parachutes” are being provided at taxpayer expense via TARP funds, says Kristy Sinsara. Meanwhile, organizations like the Consumer Advocacy Group are left scrambling to try to help faltering homeowners as best they can.

It is because of this seeming misuse of TARP funding that Kristy Sinsara’s Consumer Advocacy Group and other similar organizations are beginning to speak out. These homeowners advocates are lobbying in Washington in the hope of changing the Troubled Asset Relief Program so that relief is felt by those who truly need it most, the distressed homeowners.

Find out more information about Kristy Sinsara and the Consumer Advocacy Group.

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Where Do You Turn For Mortgage Help?

GettingOutOfDebt — Sat, 05 Dec 2009 12:53:18 +0000

When faced with tough times and the possible loss of their homes, many people do not realize that there are options out there for them. Often times, these people are made to feel by banks and other organizations that the only option they have is to find a way to pay all at once, or lose their homes.

It’s very difficult to find information on this issue, and many people believe that they have no options, no way out of losing their homes and falling down, financially. There are many answers out there, but these answers are not usually as readily available as they should be. Banks are tight lipped when it comes to these solutions, but there may be a way to find help. Enter Kristy Sinsara, of the Consumer Advocacy Group.

Through the Consumer Advocacy Group, Kristy Sinsara works very hard to enable people to understand their options and find hope in a situation that many really do not feel they have hope at all. Those most impacted by the downfall of the housing market are not big banks and their CEOs, no. It’s the people who face losing their homes and what they have worked so hard for that seem most impacted.

Quite a number of those who have lost their homes did so because they did not realize that there were options out there, ways to make a change in things and potentially to keep their homes. “The biggest thing that the Consumer Advocacy Group does,” says President Kristy Sinsara, “is educate.”

Understanding what the Consumer Advocacy Group really is, can help people to realize just what a beneficial service they offer. The group is founded on educating the people about their options, yes, but also, actively lobbying for the changes to the existing system that has caused the problems in the first place.

Often, these losses can be avoided in simply knowing the options- and this is a big part of the group’s mission. However, the Consumer Advocacy Group also lobbies actively to see changes in the system that will better benefit the consumers as a whole, rather than the large banks and companies.

Working almost entirely as a nonprofit, the Consumer Advocacy Group creates hope where others have fallen short. Being able to not only educate and enable people to keep their homes is just one thing that Kristy Sinsara believes in, but also, being able to give back to the community on the whole is a focus.

When Kristy Sinsara noticed that there was a gap between the organizations that helped homeowners as well as a greater community need, the Consumer Advocacy Group created programs specifically geared towards not only that education, but bettering the community as a whole. It is in this way that the entire community becomes more involved and many have seen hope alive and flourishing for not only themselves, but for others, as well.

To find out more about the Consumer Advocacty Group you can visit Our Blog . Or you can get more information about Kristy Sinsara and her work.

Some interesting stuff -
1. A credit repair Book.
2. Start an eBay business.
3. Trading the FX market.
4. A penny stock list.

Technorati Tags: consumer advocacy group, kristy sinsara

Getting Out Of Debt » consumer advocacy group

Speaking Out Against TARP

Where Do You Turn For Mortgage Help?