HowardWachovia is Melting in the Dark
July 13th 2008 21:12
Real Crash- Looking at Capitalism and its Laws:
Wachovia's melting in the dark
Now Hank Paulson's deputy;
Is going to Wachovia;
Robert Steele, To take over as their cleanup CEO;
The run on IndyMac on Monday;
As 18 billion in real estate, FDIC takeover;
Melted and vanished in a row;
Wachovia is melting in the dark;
All the sweet green money flowing down;
Some one left the bank out in the rain;
I don't think that it will make it;
Cause the bubble took long to bake it;
Greenspan's never having the recipe again;
Oh no, Ohhhhhh, Nooooooo!!!
(spoof, donna summer music, "Macarthur's Park")
Yes, things are getting wild. Freddie and Fannie are next. What to do? LaRouche's three point program, but also get rid of Nancy Pelosi, speaker of the house now, send her to Outer Mongolia. Her chief of staff is a George Soros- Felix "Rotten" Rohatyn man. They are the ones lying through their teeth on the high oil price.
We need 1. two-tier credit- raise interest rates, leave cheap interest rates only for necessary infrastructure, roads, rails, energy, etc 2. bankruptcy reorganization, New Bretton Woods shut down speculation now 3. freeze the mortgages, take rental payments.
Note real estate continues to tank, repos at all time high.
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