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Saturday, February 16, 2008

I WAS YOUR NEIGHBOR...Foreclosures


The peak is expected to hit by next year, I'm told. Can you fathom it?

The Consumerist Goldman Sachs is predicting that 15 million homeowners could owe more than their home is worth. BY BEN POPKEN

Clinton, Obama, McCain, and the Bankruptcy Bill by Jim Irregular Times 2/18/2008 "What about the elderly? John McCain voted against Amendment 17 by Senator Russ Feingold, which would at least let old folks who had to declare bankruptcy from losing their homes in the process. John McCain voted to kick them out on the street so as to increase the already heady profits of the credit card companies. Hillary Clinton and Barack Obama voted for Amendment 17 to protect the elderly from the indignity of homelessness." AND "Hillary Clinton and Barack Obama vote for the protection of people who are struggling to get by."

Now we know....Predatory Lenders' Partner in Crime How the Bush Administration Stopped the States From Stepping In to Help Consumers By Eliot Spitzer The Washington Post Thursday, February 14, 2008 readers have posted 252comments about this item.

Hi, I was your neighbor from the corner, the one that walked my dogs every morning and night. My name is Stan and I enjoyed our little chats, I'm gonna miss them a lot.

Where do my dogs and I go now?

Hi, I was your neighbor across the alley, the one near the lovely lilac bushes. My name is Lois. I graduated from college 10 years ago and now I can't find a job that pays enough to keep me out of debt.

Where do I go now?

Hi, I was your neighbor across the street, the one with the cute little gnomes lining the walk. My name is Ruben and this is my wife Rita. We both work 2 jobs, but it wasn't enough.

Where do we go now?

Hi, I was your neighbor next door, the one that had three bird feeders. My name is Doris and this is my Mother. My husband was named Ronald, he passed away before we were evicted.

Where do we go now?

Hi, I was your neighbor just east of your house, the one with the big bay window. My name is Xai. I helped you to get your cat out of the tree. I hope the new people are nice to you, too.

Where do I go now?

Hi, I was your neighbor a few houses down, the one with the hundred year old oak. My name is Ahmed and this is my family. We sleep in the car on dark deserted streets at night.

Where do we go now?

Hi, I was your neighbor at the end of the cul de sac, the one that walked my cat each day. My name is Flora and my cats name was Tiny, I had to give her up.

Where do I go now?

Hi, I was your neighbor for 30 years, the one that helped you jump start your car. My name is Philip and I used to go down to my VFW hall to see my friends.

Where do I go now?

Jesse on Mortgage Disclosures by Jeff Dinelli The Left Coaster Saturday February 16, 2008 "Rev. Jesse Jackson discussed the mortgage foreclosure crisis with the Chicago Tribune editorial board Thursday: "You have to have reconstruction of loans, not repossession of homes."
"Giving people some gift certificates so they can go to Wal-Mart and get some product made in China, that's a Chinese stimulus. That's not exactly an American stimulus."

Consumer confidence lower than during 2001 recession. 289 Comments from Think Progress February 15, 2008

Broken Health Care System Costs Employers and Employees by Seth Michaels AFL-CIO Blog News February 15, 2008

Beyond the Mortgage Crisis Roger K. Lewis, Columnist The Washington Post Saturday February 16, 2008 "Those bad loans were just a response to our real problem," the op-ed's subheadline proclaimed. "What's happening in the market today is not the bursting of a five-year bubble," Hill wrote, "but the bursting of a 40-year bubble" and "the incongruity between incomes and home pricing."

Op-Ed Governor Eliot Spitzer BY BEN POPKEN The Consumerists February 16, 2008 COMMENT BY BURAN: I'm not really surprised given the administration's track record of protecting big business at the expense of the public -- just look at its evisceration of the CPSC...

NYT: Bush administration Is Padding Their Monthly Jobs Reports with "Made Up" Jobs .Common Sense posted 11-04-07 "Revised Numbers Show that Third Quarter 2006 The Economy Did Worse Than We Were Told. Only 19,000 Jobs Created, not 498,000 as Previously Reported" and "The bush administration is creating imaginary jobs for it's monthly report. We need to remember this and tell our family and friends."

A New Twist on Foreclosures Animal Attraction Blog November 14, 2007 Written by:aajoanne Wednesday, November 14, 2007
Comment…Re: A New Twist on Foreclosures
"This is one of the most difficult things I have had to do in my life. I don't want to give them to a kill shelter. The no kill shelters are all full. Finding a home for an older cat isn't easy. It is difficult times for so many humans and animals. I am really stressing..."

Vacant houses and foreclosures skyrocket in St. Paul MinnPost TWIN CITIES DAILY PLANET By Rich Broderick, TC Daily Planet Thu, Feb 14 2008 "You'd be surprised by the number of foreclosure notices I'm serving in North Oaks,'" Rice says), the greatest concentrations are, not surprisingly, in St. Paul's poorer neighborhoods."

House of Shame: Legislators and Citizens Address Emotional, Legal Sides of Predatory Lending by Paul Schmelzer Minnesota Monitor Tue February 27, 2007 "...purchased a home through a major Twin Cities-based realty company, but within 15 days of closing, he was told the place was uninhabitable, and utilities were shut off."

Mortgage Crisis Spreads Past Subprime Loans The New York Times By VIKAS BAJAJ and LOUISE STORY February 12, 2008 “The whole plan was to get out” before his rate reset, he said. “Now I am caught. I can’t sell my house. I’m having a hard time refinancing. I’ve avoided bankruptcy for months trying to pull this out of my savings.” and "In refinancing their home in 2004, Mr. Doyle and his wife were doing what millions of other homeowners did in the last decade — tapping into the rising value of their homes for home improvements, paying off credit card debt, college tuition and for other spending."

Bernanke and Congress Discuss Economic Stuff February 16, 2008 from Money Matters Red Ink Kills Currencies Elaine Meinel Supkis post***BY MIKE WHITNEY*** "Perhaps, next time he could spare us all the lengthly oratory and just forward a brief cablegram to Congress saying something like this:"

Whose Gonna Fix the Poor Little Misfit Congress Christmas Story? Sunday, December 16, 2007

rings true...

John Edwards - "Heroes" Television Ad - New Hampshire Nov 10, 2007

MATT STOLLER a prominent Democratic blogger, has launched a campaign against 39 so-called Bush Dog Democrats — House members who voted in favor of Iraq war funding and warrantless wiretapping— whom he considers to be unworthy of being in office.[..]
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