I see deals being made all of the time in Washington that are a direct result of having career politicians (a great reason for term limits by the way). These deals are called pork and one needs to look no further than the rewritten $700 Billion Bail Out Plan to see how it works. When the good old boy network of bought and paid for career politicians realized they didn’t have the needed votes to Bail Out their banking buddies and largest political contributors, they simply rewrote the bill. To make up the difference in votes needed they added $125 Billion in pork to various states that were targeted at people on the fence or who may decide to vote no. This added pork now compells these deal stoppers to go along to get along and with something to bring home to the people of their states in hopes of not getting backlash for them voting for this bill.

The people were clearly and overwhelmingly opposed to this bill and for good reason. The people know they are the ones paying for this give away and also the ones that would get nothing from this Bail Out. For our supposed representatives to vote for it anyway was a literal slap in our faces. That should not be tolerated by the voters and tax payers in this country… ever!!!

So we start with change to the most seriously broken part of our government, which is without question career politicians. Once this is accomplished we can start calling for further change and have people actually listen to these ideas. The Fed either abolished or with significantly less power will be first on the agenda to be certain, but do you really, honestly think we even have any chance of accomplishing that without first cleaning out the idiots that enabled it to happen in the first place. We have people like Frank and Dodd making decisions on our countries financial future for crying out loud. I wouldn’t even take directions from them on how to get to the nearest gas station let along lead me anywhere!!! They are both a joke and a symbol of what is wrong in Government today. They and their cronies must go and now is the time!!!

You know, the vote-em-all-out Party.

“”Permit me to create and control the nation’s money and I care not who makes its laws”" – banker Baron Meyer Rothchild.

The worst thing the government has done to create the mess we’re in was to delegate the people’s sovereign, Constitutional power to create their own “money” system to the private banking cabal known as the federal reserve bankers.

They are the ones who have masterminded this gargantuan debt-money screw up, disempowering American workers and ballooning the debt of our nation’s taxpayers.

So, unless you are going to throw-em-all-out with a view to putting the people back in charge of their money system, well, it’s like the Baron said.
It matters not.

Regarding Mish’s earlier observations and suggestions, first, I think the actual “reserve” ratio is more like 2 percent on all that leverage out there.

And, meantime, the government keeps on adding more taxpayer debt to the pile at a rate of around a hundred BILLION a month.
This being done through the money-creating powers of the private bankers, by the way.
That’s who we will owe this debt to in the end.

Finally, the idea of direct government payments for things like government-sponsored pensions and social security – no problem there.

A re-writing of the law to make government-issue credits “legal tender” in this country creates a direct path from taxpyer to taxpayer.

Do not pass Wall Street.
Go directly to Main Street.
One “get-out-of-jail-card” FREE to the non-bankers among us.

Monetary reform.

Or else, begin it all over again.

Lenders in California now have extra hurdels before sending out the nasty Notice Of Default.

The hundreds of Mortgage Loan Brokers who have collapsed, put their loan docs in the dumpster.

The Wall Street firms who packaged the loans into CDOs cared not for a proper paper trail.

The Wall Street firms who sold Credit Default Swaps did not care if you held an ownership stake in the underlying debt instrament they where giving you a non-regulated insurance policy on.

Judges have ruled that if you cannot prove that you have the mortgage, you cannot foreclose.

BOTTOM LINE: If you paid $500,000.00 for a $250,000 house and did not put 20% down, why are you making mortgage payments? It can make sense to pay your taxes and insurance, but to make your mortgage payments makes is not rational.

THIS IS THE ROOT OF THE PROBLEM. With declining home prices, which should decline, rational mortgagees will default.

For every homeowner who is offered a renegotiation, in most cases it is better to default.

Unless, we make ‘loan forgiveness’ taxable, we will continue to see many more foreclosures.

Will we change the current state? No way. Thus, home prices will continue to decline and no bottom will be seen before 2011.

The best option for turning CA around is freeing up money from overblown house payments. Let the rest of the nation bail out CA loans and keep your CA rent monies local. Best of both worlds.

I’m just going to curl up in my corner here and fantasize about the Glass-Seagle Act being reinstated, the trillions of bailout money being repaid to the taxpayers and our three branches of gov’t reading a few blogs and getting a clue about what is really going on. Yep. I’m done with reality for the day. Phooey.