Foreclosures-The Untold Story

Foreclosures - The Untold Story
By Judith Moriarty
1-17-8

While we are being distracted with the theatrics of these
long months of presidential canidates theatrics and hollow
rehtoric, the grave issues in our nation (purposefully) are
being ignored. The latest antics has Michigan (in ecomomic
free fall) ignored by the party (Democratic) that once
represented the working man. This because of rules (?) that
punished Michigan for holding its primary too early. Now
they are told they cannot send delegates to the National
Convention. That's par for the course - why would the
voice of the dispossessed be represented?

Jeffrey, age 49, lost his auto plant job in Aug. He has had to

move in with his mother. Jeffrey says, "I lost everything I

worked for all my life." John McCain's message was, "The

jobs aren't coming back".

I'm not impressed with McCain (having never worked in

the real world) advising the hundreds of thousands laid off

(losing homes) to go back to college. He tells these hundreds

of thousands from his removed affluence - "The jobs are

never coming back". This shows you how detached those

in Foggy Bottom are to the working man/woman. The

arguments in SC - today say it's a race issue. Who loves

Blacks more? Huckabee is still doing his hokum song fest

(guitar) and promising a chicken in every pot (Tyson that

is). His newest delusion is to change the constitution to

line it up with Scripture. On and on it goes - while in the

working man's world millions are losing their homes. There's

an economic meltdown going on in the financial markets. The

canidates say it needs studied. The REAL story has yet to

be told to the American public. The ONE Question that

should have been asked in these forever "Groundhog Day"

debates has yet to be asked? These managed 'debates'

(sniping contests) have yet to touch our domestic carnival

of errors. You'd think we were electing a prom king or

queen. Citizens are being treated like pet gerbils running

round and round on a wheel of partronizing dribble and lies.

Both parties have been complicit over these past decades in

the meltdown we're witnessing. People need to climb down

off their elephants and donkeys. They need to discard their

red - white - and boo attire and enter into the neutral

zone. As long as people can be kept in the arena of elephant

dung and donkey drippings they'll remain ignorant to the

facts that will vitally affect their lives and their children.

REAL ESTATE: This problem began in the early 90s. This

is when the Federal Reserve began lowering the costs of

funds and banks encouraged people to borrow at low

rates. Mortgage rates were lowered in 1991. This is when

credit lines using home equity were created by your friendly

banker. That was when people began going into debt up

to their eyeballs using the inflationary increases in the value

of their primary residence as a personal ATM machine! People

forgot that the only true value in real property is the

equity. Market estimates of home values can drop 50%

in one day.

Full Article:

Foreclosures -The Untold Story