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Real Crash - by Howard

 
Hedge funds are gambling, while production is crashing. The real estate bubble is over, and going down. New York City is beautiful, that's why I take pictures of it, but it's the belly of the beast.

Keep Breaking Me In- Rob Thomas

December 12th 2007 00:27
breaking me in- Rob Thomas
Breaking Me in- Rob Thomas



The collapse is here;
Don't know what to do;
Tried to get my mortgage bailed out;
But the Feds say that I'm screwed;

The system is broke;
It's breaking me in;
I'm so scared that It'll never get put back together;

The bankers are broke;
The pyramid can't float;
We're all messed up, just you and me, you and me...

The combination of thievery and lies is overwhelming. Don't forget that below the individual cases of fraud, we have an entire system BUILT on fraud. It's the fraud of mortgages being bought and sold in strips and derivatives all over the world, with buyers in China and Saudi Arabia told it is as good as the US Dollar. No wonder the US Dollar itself is going down, and we need a New Bretton Woods system of stable exchange rates and long-term projects.


Here is some developments as of Dec 10th- At Penn State University Harrisburg campus, today, more than 500 of the 800 central Pennsylvania homeowners from Lancaster and Berks County who went to court in October to block their foreclosures showed up today for a hearing which their pressure forced the two Pennsylvania U.S. Senators, Bob Casey (D) and Arlen Specter (R), together with Congressman Tim Holden to hold in person. State Judge Jeffrey Sprecher, as EIR reported, ruled for the families and blocked all foreclosures. (They defaulted because a mortgage broker conned them into borrowing more money than necessary to refinance their homes, and then stole the money, causing them to default on their payments.) But the mortgage owners transferred the case to Federal court, where the Federal judge lifted the freeze on foreclosures. The State had on hand the head of the State Housing Agency, whose goal is to float $125 million in bonds to help only 250-300 families (!), while the homeowners are planning to file a class action suit in Federal Court on Jan. 18. All this leads nowhere, so everyone there was wide open to the HBPA, and the LaRouche representative got out lots of literature.
In Oakland, California on Saturday, 200 people showed up at an event sponsored by ACORN on foreclosures. Person after person gave testimony on their particular plight, demanding solutions. In attendance was Don Perata, California Senate President Pro Tem, as well as two state assemblymen. Perata called for a 90-day freeze on foreclosures to protect homeowners.
A Detroit meeting organized by the Michigan Emergency Committee Against War & Injustice (MECAWI) on foreclosures drew a crowd of 60, including Detroit City Councilwoman JoAnn Watson, whereas usual MECAWI meetings to protest the war generally consist of about a dozen people. There was a mood of real anger in the crowd as people recounted stories of recent foreclosures, including one woman whose sister had all of her belongings tossed into a dumpster on the street as she was evicted. The woman said, "These are a bunch of animals who want to kill us, and we have to fight back." A mob-mentality really began to build in the crowd, as some suggested using baseball bats to defend people's houses from foreclosure. Two members of the LYM represented the voice of reason in the almost lynch-mob like crowd, speaking about the HBPA and the upcoming LPAC Townhall Meeting.

pix link at Really Long Link
http:// www. rollingstone. com /rockdaily/index.php/2007/10/ 25/open-let ter-mailbag-matchbox-twentys- rob-thomas-responds-to-radio- blackmail/

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Comments
1 Comments. [ Add A Comment ]

Comment by S.L.

December 12th 2007 01:09
Desperate people reacting desperately, Howard. Such things have happened all the way back through history. It's a sad commentary that the current desperation is based on finances rather than the wish for freedom from oppression. Greed has caused so many problems throught the years. Looks like this is our dose of it....

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