In the 1930s, a shanty town was a “Hooverville.” In this depression, the wretched victims of foreclosure live and die in OBAMAVILLES.
Obama is presiding over a $10 trillion bank bailout, all money down a rat hole. Meanwhile, Obama’s so-called anti-foreclosure program is an incentive payment bonanza for predatory subprime lenders — who sold subprime Adjustable Rate Mortgages which should have been illegal all along.
Want to stop foreclosures? It’s easy: pass a law making foreclosure on any primary residence, family farm, or business a federal crime — for five years, or for the duration of the depression, whichever is longer. Put a family out on the street, shut down a farm, close a factory, and the banker goes to Leavenworth. Start with the great foreclosers — Jamie Dimon of JP Morgan, Vikram Pandit [the Bandit] of Citibank, Kenneth D. Lewis of Bank of America and Lloyd C. Blankfein of Goldman Sachs. Don’t let them destroy Detroit, Toledo, Stockton, or any other American city.