WoeIsMe_IHB
New member
Thought you guys might like to see this...
<a href="http://www.financialpetition.org/">CLICK HERE TO GO TO THE PETITION</a><a href="http://www.financialpetition.org/"></a>
"The charade continues.
<p>Late last year you found a petition on this web page asking for specific changes to help fix the housing "debt mess".</p>
<p>Congress listened, in part. A bill was passed that contained a provision exempting "short sale" deficiencies from income tax.</p>
<p><strong>Now we face a more dangerous and urgent threat, and your help - along with that of your neighbors and friends - is even more necessary than it was before.</strong></p>
<p>Tuesday, January 22nd, Ben Bernanke and The Federal Reserve threw a "surprise" interest rate change at the markets, on a day that was threatening to turn into an all-out market crash. The crash was forestalled.</p>
<p>But that change, along with the proposed "stimulus" package, is like putting a band-aid on someone's arm after they cut it off with a chainsaw. <strong>It not only does nothing for the injury but makes the situation worse.</strong></p>
<p>We learned today (1/24) that The Bond Market "disagrees" with what is going on. <strong>The cost of government debt ramped by more than six percent across the board in one single day.</strong> Your mortgage cost will <strong>not</strong> be going down - in fact, the 10 year Treasury Yield (on which most fixed rate mortgages are loosely based) was <strong>unchanged</strong> between 1/18 and today. This is because <strong>the credit markets set interest rates, not The Fed.</strong></p>
<p>In short, <strong>you are being lied to.</strong> In addition, <strong>the banks have not yet taken their "SIVs" and "conduits" back onto their balance sheets nor have they marked their assets to the market.</strong> We <strong>STILL, </strong>months after this all began, do not have any sort of honesty on Wall Street at all.</p>
<p>You have seen the results - a stock market that has lost <strong>FIFTEEN PERCENT OF ITS VALUE</strong> since October, with all of it due to <strong>your government</strong> refusing to do its job and, indeed, is actively lying to you. </p>
<p>Your 401ks and IRAs are deflating faster than the housing bubble <strong>and despite what you are hearing in the media this is NOT a "great buying opportunity" for stocks - there is MUCH FURTHER to go. </strong></p>
<p><strong>THIS MADNESS MUST BE STOPPED RIGHT NOW.</strong></p>
<p>If it is not, credit will get harder and harder to obtain, as nobody will know who is a good risk and who is not. Home prices will contact one way or another, but if we do not restore transparency you are also very likely to lose your job at the same time, and that's even more serious than your house deflating in value. Businesses will not be able to borrow either, and the stock market will decline far more in value than it has so far - <em><strong>likely more than it did during the "Tech Wreck" of 2000-2003. </strong></em></p>
<p>You've seen evidence of the problem all around you by now. Christmas sales were off everywhere. The reports are in, and the season was horrible. Housing remains in the tank, with the latest report, issued just today (1/24) showing the first price <strong>fall</strong> on an annual basis since the data first started being compiled in the 1960s. <strong>The last time home prices fell on an annual basis was during The Great Depression. </strong></p>
<p>The petition on the next page is designed to wake up the people in Washington and <strong>stop the madness </strong>before we wind up with a 1930's style full-on deflationary credit collapse. </p>
<p><strong>Your children and grandchildren will suffer if this madness is not stopped NOW. Our Government does not control "money"; banks borrow and lend, and that's all! Citibank has had to go to Arab nations and borrow at 14% to stay in business.</strong></p>
<p><strong><em>H</em><em>ow much do you think banks will charge YOU for a loan if this continues? </em></strong></p>
<p><strong>Please strongly consider signing the petition.</strong> It is important that we send a message to Congress and President Bush that we are tired of the fraud, the lies, and the "bailouts". <strong>This is not free money, although that's what you're being told!" </strong></p>
<a href="http://www.financialpetition.org/">CLICK HERE TO GO TO THE PETITION</a><a href="http://www.financialpetition.org/"></a>
"The charade continues.
<p>Late last year you found a petition on this web page asking for specific changes to help fix the housing "debt mess".</p>
<p>Congress listened, in part. A bill was passed that contained a provision exempting "short sale" deficiencies from income tax.</p>
<p><strong>Now we face a more dangerous and urgent threat, and your help - along with that of your neighbors and friends - is even more necessary than it was before.</strong></p>
<p>Tuesday, January 22nd, Ben Bernanke and The Federal Reserve threw a "surprise" interest rate change at the markets, on a day that was threatening to turn into an all-out market crash. The crash was forestalled.</p>
<p>But that change, along with the proposed "stimulus" package, is like putting a band-aid on someone's arm after they cut it off with a chainsaw. <strong>It not only does nothing for the injury but makes the situation worse.</strong></p>
<p>We learned today (1/24) that The Bond Market "disagrees" with what is going on. <strong>The cost of government debt ramped by more than six percent across the board in one single day.</strong> Your mortgage cost will <strong>not</strong> be going down - in fact, the 10 year Treasury Yield (on which most fixed rate mortgages are loosely based) was <strong>unchanged</strong> between 1/18 and today. This is because <strong>the credit markets set interest rates, not The Fed.</strong></p>
<p>In short, <strong>you are being lied to.</strong> In addition, <strong>the banks have not yet taken their "SIVs" and "conduits" back onto their balance sheets nor have they marked their assets to the market.</strong> We <strong>STILL, </strong>months after this all began, do not have any sort of honesty on Wall Street at all.</p>
<p>You have seen the results - a stock market that has lost <strong>FIFTEEN PERCENT OF ITS VALUE</strong> since October, with all of it due to <strong>your government</strong> refusing to do its job and, indeed, is actively lying to you. </p>
<p>Your 401ks and IRAs are deflating faster than the housing bubble <strong>and despite what you are hearing in the media this is NOT a "great buying opportunity" for stocks - there is MUCH FURTHER to go. </strong></p>
<p><strong>THIS MADNESS MUST BE STOPPED RIGHT NOW.</strong></p>
<p>If it is not, credit will get harder and harder to obtain, as nobody will know who is a good risk and who is not. Home prices will contact one way or another, but if we do not restore transparency you are also very likely to lose your job at the same time, and that's even more serious than your house deflating in value. Businesses will not be able to borrow either, and the stock market will decline far more in value than it has so far - <em><strong>likely more than it did during the "Tech Wreck" of 2000-2003. </strong></em></p>
<p>You've seen evidence of the problem all around you by now. Christmas sales were off everywhere. The reports are in, and the season was horrible. Housing remains in the tank, with the latest report, issued just today (1/24) showing the first price <strong>fall</strong> on an annual basis since the data first started being compiled in the 1960s. <strong>The last time home prices fell on an annual basis was during The Great Depression. </strong></p>
<p>The petition on the next page is designed to wake up the people in Washington and <strong>stop the madness </strong>before we wind up with a 1930's style full-on deflationary credit collapse. </p>
<p><strong>Your children and grandchildren will suffer if this madness is not stopped NOW. Our Government does not control "money"; banks borrow and lend, and that's all! Citibank has had to go to Arab nations and borrow at 14% to stay in business.</strong></p>
<p><strong><em>H</em><em>ow much do you think banks will charge YOU for a loan if this continues? </em></strong></p>
<p><strong>Please strongly consider signing the petition.</strong> It is important that we send a message to Congress and President Bush that we are tired of the fraud, the lies, and the "bailouts". <strong>This is not free money, although that's what you're being told!" </strong></p>
