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THROW THE BUMS OUT - ALL OF THEM Senate Millionaires Kill Mortgage Assistance for Citizens

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See: Too Little Too Late - The Money Party at Work  Feb. 18,  2009

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There are 4.9 million Alt-A and subprime loans.  Alt-A's are loans to those with higher credit ratings that have special introductory features.  Subprimes are loans to people with marginal credit.

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15% of Alt-A loans were at risk in at the start of the year.  30% of subprimes were at risk.

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A majority of Alt-A loans will "reset," increase interest, in the next 2 plus years.  25% of subprimes will do the same at a much higher rate.  That spells disaster since the "resets" are a major trigger for bankruptcy.

Some Resources

Bill Moyers Journal - Interview with William K Black  Bill Moyers Journal, Apr 3, 2009 (Transcripts:  PBS pdf Word.doc)

William K Black in the News

Stiglitz:  Capitalist Fools  (Essential Reading"

Economic Disaster -- Are You Next?  Feb. 5, 2009

Too Little Too Late - The Money Party at Work  Feb. 18,  2009

Enough of Everything But Dollars Mar. 2, 2009

Enabling Acts for an Era of Greed - The Money Party at Work Apr. 14, 2009

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