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Blog Archive

Sunday, November 30

Bailing Out Citibank but what of Housing?

Yes, it seems that to the tune of almost $300 billion, that Citibank has been bailed out. What relevance this has to the 1 million families who have lost their homes, and the 2 million more or so coming down the pike, I don't know. Yes, we have become slaves of the oligarchy again. Will Obama have the courage and the balls to lead an American Revolution against this disgusting debt slavery? We at realestate crash now do not know the answer, but at least we are smart enough to ask the question. And the best answer it seems is to freeze the mortgages, stop the foreclosure on family occupied homes, and take a few years for the whole thing to sort itself out. Not just let the interest rate go down, but after a few years of rental payments, let the principal go down too to "market levels." see Larouchepac for more.

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