September 30, 2008
Clip from DemocracyNow
Part 5
Neighborhood Association Corporation of America (NACA)
Bruce Marks
Robert Johnson (Former Chief Economist of Senate Banking Committee)
Bridge to Nowhere - The Nation
Robert Johnson lays out his plan.
1) $500 million into preferred stock injections run by bank examiners.
2) $200 million into re capitalizatin of FDIC
3) $200 million mortgage relief
4) Change the nature of Bankruptcy Code
Glass Stiegel act
Bruce Mark's lays out his plan
1) Focus solely on Foreclosures - Moratarium on foreclosures
2) Stop mortgage interest rates increases
3) Forced to use lenders/banks to restructure mortgages to help homeowners!
4) No $$ to bailout Wall Street - no guarantee it would work - then there would no more $$ left for the NEXT president. We would be bankrupt!
Should we spend the $$ now..or..help homeowners?
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