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.

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Real Crash - September 2008

US Treasury Cannot Bail Out Those Mortgages

September 9th 2008 15:04

Real Crash- Looking at Capitalism and its Laws:

When do the bodies start floating up?

Lyndon LaRouche today responded to the Hank Paulson illegal bailout of the speculators holding Fannie Mae and Freddie Mac paper, by demanding the immediate repeal of the Dodd-Frank bill. ``This bill must be immediate ripped up,'' LaRouche demanded. ``It flagrantly violates the U.S. Federal Constitution, which specifically defines the general welfare the law of the land. This bailout of speculators, at the expense of current and future taxpayers, is illegal. As I have warned for more than a year,'' LaRouche continued, ``this entire global dollar-based financial system is hopelessly bankrupt. The system cannot be saved. It entered its final collapse phase in July 2007, just as I identified at the time. I have spelled out the solution to this crisis, in my Homeowners and Bank Protection Act (HBPA) and my three-step solution. A Constitutionally viable solution is known, and available." LaRouche is warning that Paulson, Dodd and Barney Frank are liable for this crime, and in the future they better watch out, lynch mobs have been formed for lesser outrages.

After 20 years of listening to Rush and other "financial liberals" etc. babbling about "welfare cheats" etc., are we now going to give it all away? Five Trillion is 5,000 billion, that is a lot to bail out. That is the mortgage liability of Fannie Mae and Freddie Mac, including MBS, The MBS, Mortgage Backed Security, is all bad because even in the case of paying mortgages, the good mortgages are mixed with the bad ones in the MBS. Plus, with heating oil soaring, Mortgage defaults will escalate.

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Posted By: Howard - Category: No Category

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Comments

4 Comments. [ Add A Comment ]

Comment by S.L.

September 9th 2008 15:59

The Political Brief

Howard, you really should stop blaming Rush and the other conservatives for the bail-out mess. Being a conservative means taking responsibility, whether you're a private individual or a business or a government. The lenders were dishonest and irresponsible and should have to get themselves out of the mess they created. The people who fell for the sub-prime garbage should have to deal with it and learn from their mistakes. And the government should take care of Constitutional government business, not bailing people out constantly. It's the liberals (Democrats) who are wanting the bail-outs, Howard. Not most of the Conservatives (Republicans.)

Comment by Howard

September 9th 2008 16:41

Real Crash

If "the Conservatives" are against the Fannie Mae, Freddie Mac bailout, what are they or others doing, outside of my friends to attack it and stop it?

Comment by S.L.

September 9th 2008 16:55

The Political Brief

Do you doubt that Fred Thompson is a Conservative, Howard? Here's what he has to say on the subject.

Really Long Link

Comment by Howard

September 9th 2008 22:27

Real Crash

It is interesting, but the sort of symbolic opposition, which even as a statement is totally impotent.

[ Previous - Response to Fred Thompson on Fannie Mae ]

[ Next - I Must Bailout this Bubble ]

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