Jessie Jackson at the San Francisco Fed – “Restructure Loans, Don’t Take Our Homes”

A small crowd greeted Rev, Jessie Jackson this afternoon near San Francisco’s Federal Reserve Building at 101 Market Street.

“Restructure loans, don’t take our homes,” was the initial chant as Jessie and company walked up and down the sidewalk.

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His quiet voice commands attention, that’s how it goes at a Jessie Jackson rally.

And ever the experienced marcher, he’s using New Balance 293′s.

Sounds like a better use of money than bailing out GM…

He’s still out there right now, so check it out.

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4 Responses to “Jessie Jackson at the San Francisco Fed – “Restructure Loans, Don’t Take Our Homes””

  1. Philo says:

    Would that it were so simple. The loans are owned by thousands of individuals and institution, so there is no way for the borrower to contact the actual lender. New regulations would require one lender to hold at least 51% of any securitized loan, and retain power to renegotiate under certain circumstances. Too late for these folks.

  2. Matt says:

    Correction: “Restructure Loans, Don’t take our homes”

  3. sfcitizen says:

    Corrected. Muchas Matt!

  4. flistr8 says:

    I know it’s giving the government yet more power, but, I would imagine that the majority of the thousands of owners of securitized debt would prefer to get something for their investment vs nothing. So, mandate the servicers of the loans to do that which is simple (relatively) and renegotiate everyone’s loans. Yes, you are going to help out those who were maybe irresponsible in the first place but clearly everyone is going to benefit by getting the housing market back on firm ground.