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venezuela blah blah blahs...,
2009-03-04 20:57:28
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optimism is everywhere...,
2009-03-05 11:26:38
mass civil delinquency:
The odds are extremely good that the banks can't prove they own your mortgage, because the genius wizards of high finance didn't think it worthwhile to maintain records of what it was they were "securitizing". Rather than doubling down on our national debt in order to rescue these banks, Americans should be erasing their mortgage debt by staging mass civil delinquencies. By walking out from under a crumbling private financial sector we can send the money changers to that great poorhouse in the sky they've long been reserving for us.
While these numbers are a good start, they're simply not good enough:
(CBS/AP) An industry survey shows a record 5.4 million American homeowners with a mortgage, or nearly 12 percent, were either behind on their payments or in foreclosure at the end of last year.
The Mortgage Bankers Association said Thursday the percentage of loans at least a month overdue or in foreclosure was up from 10 percent in the July-September quarter and up from about 8 percent a year earlier.
These spontaneous Delinquents are motivated by mere circumstances, it doesn't help us at all if you're not paying on a mortgage because you don't have anything left to spend on cigarettes and pancakes. For my brilliant plan to contribute to the salvaging of the economy you have to stop paying your mortgage before you lose your job. Please consider your national resources. Paying somebody back for a loan they can't prove you took out, I think you'll agree, is a very silly waste of them. Especially when all they're doing with your monthly payments is paying the government to pick the pockets of everybody they didn't manage to swindle already.
:: posted by buermann @ 2009-03-05 09:32:26 CST |
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