“I guess we are a bit surprised at how fast this has unraveled,”
sub prime mortgage loans imploding. taking with it hundreds and thousands of poorer working American home buyers and relegating them to the streets? or shelters?or who knows what, and further more who is going to care? as the top minuscule percentage of Americans get obscenely wealthy on the backs of the worker drones of this country, through a myriad of schemes to steal their ill gotten gains like savings and loan fiasco's, Enron, world Com's, global crossing etc. etc. ad nauseumm....we at the middle or bottom are fookun helpless to stop these scams or adjust for them because we have given up proper citizen representation in our leaders and governments. our government is now a government AT the people instead of its intended and rightful place as a government of THE people. how do we fix it or regain a position at the table of our own sovereignty is beyond my realm of thinking.
maybe our "founding fathers" can help us on that account?
"What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure." --Thomas Jefferson to William Stephens Smith, 1787. ME 6:373, Papers 12:356
"Whenever any form of government becomes destructive of these ends [i.e., securing inherent and inalienable rights, with powers derived from the consent of the governed], it is the right of the people to alter or abolish it, and to institute new government, laying its foundation on such principles, and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness." --Thomas Jefferson: Declaration of Independence, 1776. ME 1:29, Papers 1:315
News Analysis
Crisis Looms in Mortgages
By GRETCHEN MORGENSON
Published: March 11, 2007
On March 1, a Wall Street analyst at Bear Stearns wrote an upbeat report on a company that specializes in making mortgages to cash-poor homebuyers. The company, New Century Financial, had already disclosed that a growing number of borrowers were defaulting, and its stock, at around $15, had lost half its value in three weeks.link to more of this article, click here if able
maybe our "founding fathers" can help us on that account?
"What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants. It is its natural manure." --Thomas Jefferson to William Stephens Smith, 1787. ME 6:373, Papers 12:356
"Whenever any form of government becomes destructive of these ends [i.e., securing inherent and inalienable rights, with powers derived from the consent of the governed], it is the right of the people to alter or abolish it, and to institute new government, laying its foundation on such principles, and organizing its powers in such form, as to them shall seem most likely to effect their safety and happiness." --Thomas Jefferson: Declaration of Independence, 1776. ME 1:29, Papers 1:315
News Analysis
Crisis Looms in Mortgages
By GRETCHEN MORGENSON
Published: March 11, 2007
On March 1, a Wall Street analyst at Bear Stearns wrote an upbeat report on a company that specializes in making mortgages to cash-poor homebuyers. The company, New Century Financial, had already disclosed that a growing number of borrowers were defaulting, and its stock, at around $15, had lost half its value in three weeks.link to more of this article, click here if able
