Published:
The Emergency Economic Stabilization Act
By Stan Brody
Levee's fail from the bottom up... pile all the rock in the world on the top of a levee, but unless you address the erosion at its base, the levee will still fail... and as it fails the gap gets wider allowing the flood waters running through the opening turns into a torrent...
At the base of this entire financial crisis, its root cause, are the foreclosures... Congress, in writing The Emergency Economic Stabilization Act made the egregious mistake of placing the highest priority the Wall Street corporations financial issues and politically popular "get the executives", as opposed to requiring the modification of the problem real estate loans. Instead of leading the country, Congress chose to follow...
The gap in the economy is wide open... the flood (of foreclosures) is fast becoming a torrent... and congress is piling rocks on the top (Wall Street)...
Unless congress immediately and forcefully addresses the foreclosures, through requiring loan modification, primarily in rate and term, there may not be a levee to repair...
We are racing headlong towards a world wide depression... a depression that will have been caused by a complete lack of Congress understanding of the crisis... and continued misrepresentation and outright lies by Wall Street...
Stan Brody
United States Mortgage Corporation
d/b/a MULTISOURCE
SF Peninsula 650-777-9906
Wine Country 707-942-1210
FAX: 650-259-7600
707-737-0341
Tags: financial crisis,gap in the economy
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