Record Foreclosures

6 de marzo de 2008

America Declaring Independence Again

March 6, 2008 (LPAC)—Rhode Island may have been the last of the thirteen colonies to sign the constitution, but they became the first state to reinstitute the constitution for the general welfare principle by passing LaRouche’s Homeowners and Bank Protection Act.

This comes at a point were the global financial system is clearly dismantling and one residue of this collapse is the insolvency of the major global banks, e.g. Citigroup, and the rising threat of home foreclosures. According to the Washington Post today, “Home foreclosures soared to an all-time high in the final quarter of last year, underscoring the suffering of distressed homeowners…”

The WAPO goes on to say, “Even with relief efforts under way by industry and the government, Federal Reserve Chairman Ben Bernanke, earlier this week, warned that foreclosures and late payments on home mortgages are likely to rise ‘for a while longer.’

"The MBA's Duncan agreed. "We expect some increases in the next couple of quarters," he said. The economic slowdown, harder-to-get credit and lofty energy prices are adding to the strains…”

How long will these clowns let the oligarchy juggle their balls, the system is finished, and the only solution to this crisis, like in 1776, is to declare our independence from the British empire to reestablish our American System principles.

Ding-a-Ling Brothers &
Barney and Bailout Circus