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Can we sue?


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2007 Dec 6, 11:49am   11,235 views  98 comments

by Patrick   ➕follow (59)   💰tip   ignore  

fist

With the Bush administration manipulating the housing market to prop up falling prices, a reader asks:

I understand that the investors in mortgage-backed bonds will sue, but what about a class action suit representing folks like myself who will now have to wait longer to buy a place?

Potential buyers face higher prices for a house than they would if the market were just allowed to work. This is a direct harm to millions of people, especially young families with limited income.

Is it illegal for the government to manipulate markets to benefit one class over another?

#housing

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95   anonymous   2007 Dec 10, 12:34am  

McRussom - The US has always been obsessed with the assassination of John F. Kennedy, and this has led to a spate of books over the years. There have probably been hundreds written. I've read maybe 10, since most are obscure. However, part of "conspiracy research" is the minute picking-apart of every detail of the perpetrator's life. In this case, Lee Harvey Oswald. I began to find "Who killed JFK?" books more interesting for their rare glimpse of life in the 1950s and 1960s for a low-wage slob with aspirations (even if evil ones) than for any titillation that may come from contemplating the killing of the particular rich guy who happened to be President. Lee Oswald did not make much money at anything he did, and yet what he did make allowed him to live in a decent place, generally a 2-bedroom apartment and not one of those Bay Area closets either, plus save money (for various plots and plans lol) on the side. He was able to support Marina and her baby. Going back further, his mother was always able to own the house she lived in, and gradually moved up in house value over the years. These people were not working 60-hour weeks, they were lucky to get a full 40 hours in fact. Lee had the time, energy, and money to take a night typing class. A friend of his had the time and energy and could afford to give him free driving lessons. It was a much more relaxed, self-sufficient, I've-got-some-savings-on-the-side life compared to modern American wage-slavery. Lee's menial jobs were due to his preference to not work too hard rather than a lack of good jobs. He seemed to enjoy the jobs he had, since they provided him what he needed, plus time to think (and plot lol). Investigators in the Warren Commission and other books comment on Lee's frugality, but many people were frugal at that time, that's how you lived. Waste not want not and all that. It's an amazing glimpse at a life very different from our stressed-out 60-hour a week plus 10 a week commuting gilded work-camp life we have now.

One factor was, guys like Lee did not pay any income tax. Then, anyone making less than $4k didn't pay it, now, anyone making less than $4k doesn't pay it. But the brackets have crept due to the fact that a dollar is worth about 1/10th what it was in the 50s, so now you have dishwashers and table bussers and so on paying 1/4 or more of their gross income in taxes.

Lee was not the smartest guy, but if the poor bastard were alive today, perhaps released after a LONG time in isolation, he'd be appalled at how people live. He'd find his theories about Capitalism hanging itself vindicated, and he'd also have a huge problem with the system of fascism (or corporatism, the uniting of corporations and gov't) we live under now.

96   Mhrist   2007 Dec 10, 6:23am  

Funny, how the hippies, blacks, nationalists, and other cool movements got bought out thru the years.
If Lee were alive today, he will probably be a welfare smooching, trailer living hobo blessing the government for every day of slumber.
If King was here today, he will probably be chilling in the hood, selling crack, and smooching on the welfare of a couple of mamas and occasionally visit jail.
Hitler would have been a guy on the net, probably a few pounds heavier, the closest ever to a war or depression watching Saving Private Rayan, blabing on and on at patrick.net and such about how screwed up the little people are and when oh when will someone do something other than a petition online that noone will care for. Ohh and since Jews are not as scary, he would be like, 'The corporations control everything... ooowwww, be afraid, be very afraid!'
Funny stuff I tell you.

Marty

97   Mhrist   2007 Dec 10, 7:19pm  

Autism is skyrocketing, no one knows why. Mercury is in the air from coal fire. Katrina victims are still displaced. The US is very low in the court of world opinion. Our budget shortfalls and our trade deficits are staggering. Our fiat currency is only worth anything now due to our military strength and the existing forex[foreign] reserves here.,

buddy, selective ranting of facts is aways counter productive:

Umm, about your cookoo points:
- Autism is skyrocketing, no one knows why. - Emm, society is degrading/REgrading with size and class separation
- Mercury is in the air from coal fire. - sure, but think of the 2 bil chinese you owe 1 trillion dollars (real, not inflated pos) of crap to. they have boom-boom sticks too you know.
- The US is very low in the court of world opinion - but it is high on home grown love and all that. As far as I recall, two times Bush was chosen. I'm not going to get into how, those people being wrong, will likely protect your ass against the 2 Billion Chinese you Owe 1 Trillion of Real Money to.
- Our budget shortfalls and our trade deficits are staggering. - go to NY and LA redneck, we make the moolah, and we spend it. I wear PRADA == I AM RICH. bugetiwhatgety? You think the guy I visited last week in the masion on the hills cared? Sometimes, you can get so rich so fast you can't comprehend it.
- Our fiat currency is only worth anything now due to our military strength and the existing forex reserves here - Soup, soup and more soup. Manchurian, this is the next step!

See, your master protects you, let him do so, then hang him! It is like, if the Chinese tell you if you let them control the situation then no bail out! Would you let them?

p.s. About China and the 2 Billion Pissed-Off Chinese. This is just an euphorisam. Like Pamela Anderson, read on both and you will understand, or send me an email.

Marty

98   Malcolm   2007 Dec 12, 2:12pm  

Wow Micrusson, I was in a pretty good mood until I read your comment. I actually agree with most of your rant but it is a very diverse economy and there are many people still doing very well. If you try to empathize with all the bad stuff you will depress yourself. You can do your part by taking control of your life. If you hate pollution live green. If you don't like China, refuse to buy Chinese products, it is hard I know but I have managed to drastically cut down on Chinese goods. Simplifying your life is the biggest relief. None of this crap is new, the situation may seem unique but it really isn't.

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