Real Estate Mortgages Out of Control in the Bronx

I saw a press conference today, about dealing with the mortgage foreclosure crisis. There is a lot of games about getting people's mortgages refinanced. It can't work more than 10-percent of the time and the payments are still astronomical. 42 New York State Assemblymen and Senators support the Homeowner and Bank Protection Act, including leading Democrat on the issue, Jeffrey Klein, of the Bronx. Unfortunately, that initiative was not what they were pushing on Sat., at Cardinal Spellman High School, off of Baychester Avenue in the Bronx.

On the home mortgage crisis, can we really let 5 million families be foreclosed on? Should we, because for 5-years (2001-2006) banker thieves were allowed to artificially run up real estate prices using Adjustable rate mortgages and other swindles? No. We must use government, to freeze the mortgages, have minimal payments made, and reorganize the over-inflated real estate market. The bankers created a "market" to double and triple home prices, through deliberate FRAUD.

The whole economy is going down. We need a government sponsored infrastructure program, sooner not later. You can combine public works and private companies, but LaRouche warns to be careful. You may be bought and sold like a SLAVE. Ever heard of "Fascism and the World Company?" Anyway, the FDR system of public credit for infrastructure, done by public and private contractors has always worked fairly well, despite human frailties. (Government credit is not the same as tax collections).

Maintaining Physical Infrastructure is not just repairing things. This is a key engine of progress in technology. Next stop is to colonize Mars, with our physical, space infrastructure. Infrastructure has NEVER paid for itself, it has always been partially or totally subsidized by government credit. Government credit is the issuing of money to a contractor who helps construct the government infrastructure. Especially, with the ongoing credit crunch and the crashing system, only government credit will be able to build new infrastructure. (Remember, the bubble is over).

If we don't have new, better Nuclear Energy, we will within a fairly short time (20-200 years, it's unclear) run out of cheap, accessible oil. Anyway, oil is a petrochemical feedstock valuable for many other purposes. WE NEED PROGRESS AS A PEOPLE, TO CREATE NEW "NATURAL RESOURCES" OR ELSE.

Hopefully, these initatives on the Mortgage crisis will start some real action, like freezing the mortgages, not waiting for everything to get worse.