Midnight Rambling on Wall St.

If you hear about the Midnight Rambler;
His subprime pooled, and inside job;
And don't forget Moody's, Fitch, and S&P;
They were all part of the Bear Stearns Mob;;

Remember, the rating agencies were part of the deal too. They said all this MBS, Mortgage Backed Securities, were as good as gold. LaRouche told you so.
It has gone beyond the rumor mill and has hit the court room. Andrew Cuomo, the NY Attorney General has issued Subpoenas to Deutsche Bank, Merill Lynch, and Bear Stearns. Don't make the mistatke of believing that this is going to solve everything. This is just a question of who goes to jail, who gets fired and all that other juicy stuff.
Presidential Candidate Hillary Clinton addressed part of the Homeowner and Bank Protection Act, with her proposal for a freeze on mortgages and a scale down to pre-balloon interest rates on the ARMs (Adj Rate Mortgages). It won't work without the other half of the proposal, which is to freeze the MBS and in some cases totally write them off. We may have to write ALL of them off, like, speculative bets are worth zero. It is the first step toward a New Bretton Woods, a return to fixed exchange rates between currencies, limiting speculation, and issueing new national credit for big infrastructure projects, that is, if you want to continue to have a civilization. Hope you like the Midnight Rambler, and all those Rolling Stones oldies.


http://www. taringa. net/posts/863186