Marcy Kaptur: “Almost one in four homeowners in our country is underwater, meaning they owe more on their mortgages than their homes…”

“Almost one in four homeowners in our country is underwater, meaning they owe more on their mortgages than their homes are worth, and all of this misery is due to Wall Street's rigging of our economy. But on Wall Street, they're popping champagne corks. The Nation's biggest banks--Bank of America, Wells Fargo, Citigroup, JPMorgan Chase, Goldman Sachs, and Morgan Stanley--have been raking in huge profits, all at the expense of the American people. In fact, these institutions have doubled in size through predatory mergers since the fall of 2007, and these six banks now control two-thirds of the banking system in our country. They cleaned up with profits in 2010--$51.6 billion in profits, more profits than they made before the American people bailed them out. Main Street is underwater, yet Wall Street is going on a pleasure cruise. It doesn't take a mental giant to figure who got our money. According to a recent report, the economic crisis that Wall Street precipitated has now caused massive tax revenue shortfalls for the Federal Government and our State governments totaling nearly $300 billion. This is why people are at one another's throats in Wisconsin, in Ohio, and other places. Yes, ordinary Americans--teachers, police, firemen--are being pink-slipped, and the American people are being forced to accept cuts in government services while Wall Street keeps winning, and winning big. They know well how to win for themselves.…”