Where was Chris Dodd, head of the Senate Banking Commitee, over the past several years, while this perfect storm was brewing? Apparently, he was completely oblivious to the potential issues. However, as our congressional representatives always do, they claim no responsibility for what has happened, but now they have answers to fix things. I say, why didn't you do your job in the first place?

It's about time. And hey should use Fannie and Freddie's expertise to "wash" these CDO's replacing the bad mortgages with new 30 year fixed 4.5% mortgages. They can borrow from the Treasury at 2%. Even on a resale, once the market stabilizes, they will not take much of a loss with the 10 year treasury yielding a paltry 3.5%

The problem I see is this is exactly what Japan did in the years following 1989 and today they are still down on their stock market from approx 39,000 to 11,800.. Yes the resolution worked..but there were real assets.. what is a 2nd mortgage worth...on an overvalued property.. or a bond or debt vehicle on a company not worth anything...

Andrew Abraham
MyInvestorsPlace.com

A social network web site for investors

Proclamation on the Federal Reserve System of the United States of America

www.TakeBackTheFed.com

March 2008

WHEREAS, Article I, Section 8 of the Constitution of the United States of America authorizes Congress "To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures";

WHEREAS, on December 13th, 1913 the US Congress enacted the Federal Reserve System;

WHEREAS, the Federal Reserve System is considered an independent agency within the federal government, with oversight of Congress and containing appointed public officials on its board of directors;

WHEREAS, the Federal Reserve System Controls the Federal Reserve Note, the official currency of the great nation of the United States of America;

WHEREAS, there may be controversies regarding the legality and constitutionality of the Federal Reserve System, it is recognized that the said system has operated continuously as the central banking system of the United States since the inception of the Federal Reserve Act of 1913;

WHEREAS, the Constitution of the United States of America granted Congress the authority to create the current Federal Reserve System, it also does grant Congress the authority to modify or revoke the Federal Reserve System;

WHEREAS, the actions of the Fedreral Reserve System represent the credit and currency of the United Stated of America to the citizens of this great nation and to the world;

WHEREAS, the Federal Reserve System, acting independently within the federal government allowed, supported, and even promoted parasitical and non-productive uses of the money and credit of the United States of America;

WHEREAS, the United States and likely the entire world's financial system is undergoing massive de-leveraging of the said parasitical and non-productive uses of the credit and money of the United States of America (as well as other nations' currencies);

WHEREAS, the US dollar, the "Federal Reserve Note" is declining in value due to these parasitical activites, as well as potentially other causes;

WHEREAS, it is recognized that the citizens of the United States and other nations did willingly participate at some level in the creation and propogation of said parasitical activities;

WHEREAS, it is also recognized that the United States of America, a sovereign nation, has the legal, moral, and God given authority to take actions to benefit its citizens and to protect its good name, credit and money in times of difficulty;

WHEREAS, it is recognized that the current time is such a time of great difficulty;

WHEREAS, it is recognized the parasitical financial institutions and their activities are at odds with citizens of the United States of America and the good credit and money thereof;

WHEREAS, the current indications are that the Federal Reserve System is acting to preserve the financial system currently flooded with the parasitical activities;

WHEREAS, the current indications are that the neither the Federal Reserve System, nor the Congress of the United States, nor the people of the United States have access to the books of the institutions being preserved by the Federal Reserve, and therefor the degree of inter-connectivity and risk associated with the institutions and other entities cannot be determined;

WHEREAS, the Federal Reserve System is accepting non-performing assets as collateral for credit with ultimate taxpayer responibility to entities not under its constitutional mandate;

IT MUST BE CONCLUDED, that the Federal Reserve System is not acting to the benefit of the people of the United States of America, its credit, money, and good name;

WHEREAS, it is recognized that the political will and capability of the government of the United States of America may not be up to the task of prosecuting this proclamation ; It is also recognized that this may be the only hope for the continued survival of the United States of America as the great nation as it has historically existed.

NOW THEREFORE, it is PROCLAIMED by those supporting this Proclamation that the Congress of the United States of America FULLY NATIONALIZE the Federal Reserve System, and take full control of the credit and money of our great nation; The Congress must take whatever action necassary to seperate out, sequester, disown, or otherwise neutralize the effect of the parasitical financial activities which led to the current crisis; The Congress of the United States of America must reorganize, replace, or terminate the Federal Reserve System as appropriate; or otherwise devise a system for creation of the national currency.

IT IS FURTHER PROCLAIMED, that the Congress of the United States of America in cooperation with the Executive of the United States of America contact allied nations and any other nation willing to participate in the overhaul of the failing and parastical financial sytem currently in operation and create new treaties and alliances as necassary to create a sane and productive system of finance with the express goal of supporting a productive national, and by extension and through voluntary cooperation, world economy;

FURTHERMORE, it is PROCLAIMED that it should be the goal of such an international effort to maintain fair international trading practices allowing for protection in national interest of labor, resources, and productive capabilities;

WHEREAS, it is recognized that such a move on the part of the United States of America may result in the necessity of an isolationist policy IF the other developed nations do not follow our lead; If such occurs, so be it.

SO HELP US GOD!

Barney Frank knows nothing below is the real solutions:

Real Simple Solutiuon: Example: Columbus, Ohio - 16th largest real
estate market in US. There are 25,000 current real estate listings
in Columbus, Ohio totalling 4.275 billion dollars. The Government
needs to buy them up as of a fixed date. Of those listings 12% of
them are rentals and 25+% of them will be bought by a person that
just sold an existing listing to the government. That comes to 2.6
billion dollars to completely fix the Columbus, Ohio real estate
market. The government then needs to sell those listings over time
at new market prices. Do you realize what that would do to any and
all real estate markets? Do you realize how much will come back to
the banks in paid off loans, back interest and fees? Do you realize
what that does to the written down real estate of the banks? How
about all the industry related businesses of real estate? It
immediately puts a bottom in each and every market the government
chooses to fix. Take the top 150 real estate markets in the US and
it should cost about 500 billion dollars. It would be an instant
success and completely fix all related industries that are currently
in financial trouble. It will be less of a burden on the tax payer
and the government would now be holding newly appreciating assets as
collateral (houses) instead of the toxic garbage securities it
intends to hold. The crooks on wall street that caused this mess
will not get all of the relief. The relief will be spead equitably
across a true cross section of the economy that deserves it. The
Equitable solution is the only fair way of taking our money and
fixing the problem and that way an ex Wall Street Chief (Hank
Paulson) is not handling our tax money, we are. It goes right to
main street and eventually much of it will trickle up to Wall Street.
This time we will enforce instead of over regulate wall street.

Equitable Plan - bruce@eqfin.com

Chris Dodd definately knows nothing:

Real Simple Solutiuon: Example: Columbus, Ohio - 16th largest real
estate market in US. There are 25,000 current real estate listings
in Columbus, Ohio totalling 4.275 billion dollars. The Government
needs to buy them up as of a fixed date. Of those listings 12% of
them are rentals and 25+% of them will be bought by a person that
just sold an existing listing to the government. That comes to 2.6
billion dollars to completely fix the Columbus, Ohio real estate
market. The government then needs to sell those listings over time
at new market prices. Do you realize what that would do to any and
all real estate markets? Do you realize how much will come back to
the banks in paid off loans, back interest and fees? Do you realize
what that does to the written down real estate of the banks? How
about all the industry related businesses of real estate? It
immediately puts a bottom in each and every market the government
chooses to fix. Take the top 150 real estate markets in the US and
it should cost about 500 billion dollars. It would be an instant
success and completely fix all related industries that are currently
in financial trouble. It will be less of a burden on the tax payer
and the government would now be holding newly appreciating assets as
collateral (houses) instead of the toxic garbage securities it
intends to hold. The crooks on wall street that caused this mess
will not get all of the relief. The relief will be spead equitably
across a true cross section of the economy that deserves it. The
Equitable solution is the only fair way of taking our money and
fixing the problem and that way an ex Wall Street Chief (Hank
Paulson) is not handling our tax money, we are. It goes right to
main street and eventually much of it will trickle up to Wall Street.
This time we will enforce instead of over regulate wall street.

Equitable Plan - bruce@eqfin.com