THE TEASE IN HEADLINES

This lady lost her home for which the mortgage had been paid up in 1984.  The city sold her tax lien rather than try to collect the money.  Some buyers are behemoths like JP Morgan Chase Co, some are local tax collectors.

The sum is that that most of these are not people who bought homes they could ill afford at the time, but rather, they got ensnared in the tax collector's devious tactics

Using a logic, read here,  that almost all the current ills on earth for mankind stem from over-population, Bill Ryerson has dedicated his life to the stabilization of human population numbers at a level that can be sustained by our ecosystem's resources.  He is the founder and president of the Population Media Center, a non-profit that seeks to improve the well-being of people by using -- believe it! -- melodramatic soap operas on radio and television throughout the developing world (and soon, the U.S.) to teach listeners and viewers important lessons relating to family planning, reproductive health, HIV/AIDS and environmental preservation, as well as a thing or two about women's and children's rights.

Alan Greenspan swallowed Ayn Rand's opinions whole heartedly, much to the disaster of the economy of the United States.  He followed her in her denial of allowing regulatory bodies...and she is not around to take responsibility.  It is people who make their living along the Gulf Coast and the people caught up in sub-prime mortgages and all the goodies the rich have pulled on the poor (or the 'small' people as the Chairman of BP called us).

For those who want to read the accompanying article, click here.

The sign turned out to be the one on
 the right!





It makes me wonder if we are dealing with professional media persons, or TV marketers.  One can readily understand why ratings are important but like many other jobs, is it worth prostituting one's self for ratings?  The above examples have not gone that far, but in the interests of not adding my voice to the many complaints being made for those who are, I simply pose the question.
    after the city sold her debt to investors through a contentious and byzantine legal process called a “tax sale.” This little-known type of foreclosure can enrich investors as growing numbers of property owners struggle to pay their bills

CASSANDRA LIVES IN 2009

It wasn't Apollo who made men not believe Cassandra; men in power, in general, do not play truth with a single powerful woman. Instead, they gang up on her and do the little tricks of demeaning her, ruining her reputation, casting innuendos so that they'd tarnish her to the point of a total lack of respect for whatever she had to say. I'm speaking of Brooksley Born, a Stanford University law graduate, who foresaw the collapse of our economy starting with OTC derivatives way back in the 90s. She was ignored by the same men whom Obama has brought in to straighten out our economy, the economy they allowed to fall...in other words, the foxes are now in the hen house. Read more.

On 5/26 the Washington Post wrote about her but it never seemed to make the mainstream media...at least, I never saw anything on her until tonight when Frontline on PBS did a brilliant piece exposing the conditions under which she testified before the Senate (who chose to listen the the 'big boys' instead of this brilliant woman).

Born believed in government regulation. Greenspan, the God of economics through many presidential bipartisan periods, followed his credo, Markets Get It Right and then, after he retired, had the temerity to simply say, "I was wrong." while the country was in economic and emotional shambles. In 1999 Time Magazine was praising the threesome for their great work. Do you think they would dare do a truthful update?

There was only one powerful man who ignored her and who had the manhood to admit that he didn't pay enough attention, swayed by the men who spoke so forcefully. He is a former SEC Chairman, Arthur Levitt. Gentleman that he is, to say he is sorry, doesn't change history and we are still going to have to suffer the mistakes of these men, bankers, investors, and greedy men who care not for their fellow citizens.

CURRENT US GOVERNMENT: LORD OF THE FLIES

Jim, Hightower writes a revealing article as to whom we can blame for the current state of our distressing economic affairs. He lists them as Phil Gramm,Alan Greenspan, Chris Cox, William Donaldson,and Henry Paulson. Those who have been carefully following this economic crisis will be little surprised. Those who are overwhelmed with the plethora of pundits claiming expertise, but succeeding only in pushing their own biases and confusing the issues, may realize they have been lied to and, if they plan to vote for McCain will live to regret it as much as the country has regretted Bush 43.

Each of the five has been given too free a rein to commit the economic atrocities that have been dropped onto the unsuspecting and trusting citizens. Starting with Phil Gramm, currently chief economic adviser to McCain, he pushed through a bill to dissolve the 1933 Glass-Steagall Act, a New Deal reform that prohibited banks, investment houses, and insurance companies from combining into one corporation. Quopting Hightower, he wrote: "In literally the dead of night, just before Congress's Christmas break in 2000, Chairman Gramm snuck a short provision into an 11,000-page appropriations bill. The item, which only a few lobbyists and lawmakers knew had been inserted, became law when the larger bill was signed by then-President Bill Clinton. Gramm's little legislative sticky note decreed that a relatively new, exotic, and inherently risky form of investments called "derivatives" were not to be regulated--or even monitored--by the government." Both some Democrats and Republicans tagged onto the train pulling this out of the station.

Next, Alan Greenspan who had the grace to take on his responsibility for this crisis by admitting he was wrong. Now that is a nice move but lacks credibility in face of the many voices trying for years to show him why he was wrong, all of which he ignored to the complete disaster resulting to the individual taxpayer in America who will have to pay it all off. Seen as an oracle, Hightower describes further: "As Federal Reserve chairman from 1987 to 2006, he held the regulatory power to prevent the irrational inflation of the huge derivatives bubble that has now burst-- yet he fought fiercely through four presidencies to prevent even the meekest oversight by the Fed or any other agency."

Chris Cox succeeded William Donaldson as SWEC Chair when Bush chose him in 2005. "He weakened the ability of the enforcement staff even to investigate securities violations by Wall Street firms, much less prosecute them. Also, in an act of pure ideological folly, he eliminated an office that had been set up specifically to watch out for future problems with such high-risk investments as derivatives."

Walter Donaldson headed the SEC (Securityu and Exchange Commisssion) which supposedly regulates investment banks. He was a Wall Street investment banker, a fox guarding the chicken coop as so much of the Bush administration was permitted to do.

Henry Paulson was "considered one of Wall Street's "smart guys" who had figured out how to make billions in brokerage fees by packaging and selling these wondrous pieces of wizardry called derivatives, and he came into government as an unquestioning believer in deregulatory doctrine."

If you feel like reading the details of this elucidating article, go to this site.