http://www.bloomberg.com/apps/news?pid=20601068&sid=aa8sKfDl3kh8&refer=home
Toxic assets is not the word for it
Do you really think 700 billion is even going to touch this mess
unless we sell ourselves off totally to a foreign country
Every where around the world people own that useless dollar all backed by our toxic
mortgage loans because Wallstreet got drunk off of an easy mark!
The American homeowner, who can now no longer afford his home because of the devaluation that the dollar has taken on because it isn't backed by a thing but hot air!
We have no jobs in our country and paying Big Bank bills ours and other countries is just bullshit!
If we let it fail at least we can insist on a change in currency.
Screw the hot air of fiat
We want gold back backing our dollar!
If not then the big banks just rape us again just like they do every time
This time let them fry in their own mess.
It isn't ours to clean up, the little people have enough of their own problems
without making sure Wall street can still eat.
Sales of previously owned U.S. homes fell more than forecast in August and prices dropped the most on record as Federal Reserve Chairman Ben S. Bernanke suggested the housing market may get worse before it gets better.
Sales of existing homes dropped 2.2 percent to an annual rate of 4.91 million units from 5.02 million the prior month, the National Association of Realtors said today in Washington. The median price declined 9.5 percent from August 2007 and the number of properties fell from a record.
Bernanke told lawmakers that lenders will become ``still more cautious,'' with terms on home loans tightening ``significantly.'' The slide in property values threatens to hurt consumer spending, which Bernanke said today would be ```sluggish at best'' in coming months.
