Economy

Here is a call to action from a group in DC area

People have made bad, and improper investments with credit and equity.

My family and friends (who I would say are "average" and "normal" Americans) have used home equity to buy other homes, invest in the stock market, to buy "stuff", and to pay expenses. This sometimes illegal and improper use of residential property equity is the problem! This equity does not exist yet and no one knows when or if it will, or how much it may be; and it is all ready "at work" - multiply times over. I have seen many people live off of credit and use their money to invest. This "hyper-capitalism" of equity on equity - on credit and debt appreciation, is a flawed and failing economic model, and it is failing - just as it should.

In these moments of final collapse of the non-value, speculative global economy placing millions of Americans in dire straights, my group of researchers - TEIC - has entrusted all immediate advisors and staffs of the campaign of Obama to frantically attempt to reach Bill and Hillary Clinton.

Some lenders might have lowered their “own mortgage borrowers’ home values” by continuing to make sup-prime loans to unqualified borrowers in their community—after having “knowledge” the community had high numbers of mortgage defaults and foreclosures.

At about 8:45am this morning….

Appears to say "LET IT SINK" and "NO BAILOUT." Interesting…

To Lessa, "dollar is over" and it’s necessary that a new "Bretton Woods" establishes new parameters to global economy

Wednesday, Oct. 1
6 - 7:45 p.m.
Phillis Wheatley Library
(33 Dr. Samuel McCree Way at Ford St.)

It is the corporate CEOs and their pals in government
who created this financial "crisis" and now they want to use it to further enrich themselves.

Oppose Disaster Capitalist Opportunism!
There ARE alternatives!

The Bush-Pelosi proposed law bailing out Wall Street capitalist greed and hyper-profit,will hit the American poor and middle class even harder, and prolong the crisis. Time to stop the bill! Time to change Wall Street-coddling politicians! Time to go into the streets and make the people's voice heard!

The financial crisis that has been heating up since early 2007 reached the boiling point in late September. Credit markets virtually stopped functioning. A full-blown panic swept stock markets worldwide. The U.S. economy is in the throes of a recession that could turn into a Depression lasting for years. In these dire straits, the Wall Street speculators who set off this crisis are demanding that the government rescue them with a bailout priced at $700 billion. The actual costs will be far higher, a trillion dollars or more. Meanwhile, the Democrats are pushing hardest for the Bush bailout of the banks. Presidential candidate Barack Obama blames "greed" for the crisis on Wall Street (capitalism without greed?) and says there must be no "blank check to Washington" — meaning he's for putting in a few conditions as window dressing. Following in the Democrats' footsteps, the AFL-CIO labor bureaucrats called a demo for "No Blank Check for Wall Street." Yet no amount of regulation will stop the boom-bust cycle of capitalism. Meanwhile unemployment lines are growing and a million families were thrown out of their homes by bank foreclosures in the last year. While the fat cats, Democrats and bureaucrats are all going for the Bush bailout to prop up U.S. capitalism, revolutionary Marxists oppose this trillion-dollar giveaway to the Wall Street speculators, calling instead for a program of transitional demands leading to the expropriation of the banks and the entire bourgeoisie through workers revolution.

Its your 700 billion dollars!
How can Americans possibly trust this Congress to protect $700 billion in Taxpayer Dollars that is needed to Restore US credit liquidity from being misappropriated?