Meanwhile back at the ranch, our heros Freddie and Fannie give up. Tune in on Monday for mayhem!

[Neshanic]

http://www.msnbc.msn.com/id/26567533

We all own houses, lots and lots of them.

[Captain Hilts]

1. I did some work for Freddie. What a high-salary racket. nt

[whistle]

2. Nationalization of $12 trillion in home mortgage debts will be next on the agenda

[Neshanic]

3. Yup, the Republicans destruction of American is almost complete!

[Serial Mom]

4. Meanwhile...

NEW YORK (Reuters) - The head of Fannie Mae, a company chartered by Congress to help more Americans own homes, reaped a 7 percent rise in pay last year, to $13.4 million, while the company lost money and the country suffered its worst housing crisis in decades.

[Neshanic]

5. Meanwhile the sheriff Shiller cannot save us, here he is with the bad news.

Shiller: House Price Decline Could Be Worse than Depression

http://bigpicture.typepad.com/comments/2008/09/shiller-house-p.html

"Home price declines are already approaching those in the Great Depression, when they plunged 30% during the 1930s. With prices already down almost 20%, it’s not a stretch to think we might exceed that drop this time around.

There are about 10 million homeowners whose debt is higher than their home value, which has broad implications for how Americans feel about their wealth and spending habits (read: more pressure on consumer spending).

The current hopeful consensus — that house prices will bottom soon and then begin to recover — is most likely a dream. Housing markets don’t usually have "V-shaped" recoveries. And even if house prices stabilize in nominal terms, after adjusting for inflation, most homeowners will continue to lose money."

[annabanana]

6. And Grover's wish is that much nearer to fruition.

Our Treasury will be so severely strained by this bailout, and servicing our enormous debt, and shoveling money to connected contractors, and subsidizing the oil industry and not taxing any of the people who are TAKING all our money..

that we will literally not be able to perform any of the tasks of good government.

That, along with getting obscenely rich, has been the plan of the oligarchs all along. We will stand by their doorways with begging cups and tug at the forelock beseeching our masters for a crumb from their table, or the great opportunity of cleaning up their offal for the price of a glass of what's left of the clean water in the world.


If we don't get people in government that will stop them.. stop them! it will be torches vs magic "targeted sound" machines in the streets...