David Eddy and Jack Martin, take great care that you don't begin to fancy yourselves celebrities. Having been one, I can tell you it is not what you want and will not bring the changes you seek. The labors of Hercules were related posthumously, and he never had to endure a ticker-tape parade. When you get a big head, then you're a sellout. It is OK that you voice a Moyerista consensus, just don't try to take credit. There are thousands of us out here reading, trying to keep you honest and humble. (This marks my break with Jack as a follower, and from now on consider me a friendly critic. It takes dissent and critique to keep strong.)
As for a big head nearly blown off, you should have seen Bob Woodward reports (for Disney) China: Inside Out last night. It may have been the most honest and comprehensive analysis by main stream media this decade. Bob's insights and partial truths about how China has surpassed the U.S., and how the planet is being destroyed by these developments included some top analysts (including food and ecology expert Lester Brown) and had Bob visiting Africa and Southeast Asia. It was superb and Moyers should be jealous in that it told the American public much (but not nearly all ) they need to know about our falling empire.
So David Eddy and Jack Martin, not only do you have to capture Uncle Sam the mental patient, serial killer and pathological liar; but you must also leash the ravaging pitbull China while guiding its 1.3 inhabitants to a sustainable future. I can see why you great thinkers get big egos, because these tasks truly rival the labors of Hercules. (Pick a sack of golden apples, then pose with them in a loin cloth in front of your full length mirrors, you Moyerista Nephilim.)

David Eddy and Jack Martin, take great care that you don't begin to fancy yourselves celebrities. Having been one, I can tell you it is not what you want and will not bring the changes you seek. The labors of Hercules were related posthumously, and he never had to endure a ticker-tape parade. When you get a big head, then you're a sellout. It is OK that you voice a Moyerista consensus, just don't try to take credit. There are thousands of us out here reading, trying to keep you honest and humble. (This marks my break with Jack as a follower, and from now on consider me a friendly critic. It takes dissent and critique to keep strong.)
As for a big head nearly blown off, you should have seen Bob Woodward reports (for Disney) China: Inside Out last night. It may have been the most honest and comprehensive analysis by main stream media this decade. Bob's insights and partial truths about how China has surpassed the U.S., and how the planet is being destroyed by these developments included some top analysts (including food and ecology expert Lester Brown) and had Bob visiting Africa and Southeast Asia. It was superb and Moyers should be jealous in that it told the American public much (but not nearly all ) they need to know about our falling empire.
So David Eddy and Jack Martin, not only do you have to capture Uncle Sam the mental patient, serial killer and pathological liar; but you must also leash the ravaging pitbull China while guiding its 1.3 inhabitants to a sustainable future. I can see why you great thinkers get big egos, because these tasks truly rival the labors of Hercules. (Pick a sack of golden apples, then pose with them in a loin cloth in front of your full length mirrors, you Moyerista Nephilim.)

Jack Martin,
I like your, "...Illegitimate leaders bankrolled by pirates".
The sad but true is that our only choice is do what is necessary to deal with both the illegitimate leaders and the pirates.
We need to impeach the illegitimate leaders and put the pirates in the brig.
Even a one cell organism has enough sense to understand that their only chance of survival is their association with other microorganisms.
Like you mentioned in your post; it is necessary that people organize their efforts to ride themselves of cancerous people.
Sad but true; survival depends on doing what is necessary to solve the problem.
Dave Eddy

Um-m-m-m-m....?
Now how long will this court thing take? See how enforcement and courts work now: Poor folks under the jail, rich get token fines and country club short-terms. See how Bruce Ivins didn't get his day in court and is being convicted by compliant media? See how small- potatoes Hamdan gets a life sentence from a military starchamber?
It would never occur to me that people would be allowed to "educate" their children in non-corporate values. Those who insist on it would be viewed as cultists, and would produce misfit, unemployable kids. Consumerism permeates school and media, and that's why people are so easily bought. This is getting worse over time, not better. David, the people I'm drawing in to correspondence from this blog are filled with fear and dread. I can see why: I took my elderly mother to a Jimmy Carter book signing and was biometricly IDed by his Secret Service detail as a security threat (because I have been a peace protester). One slip these days can hurt your credit and cost you employment. (I know.)

Honesty is the best policy. Any official we encounter should hear our gripes and concerns. There is too much deference and politeness to criminal accomplices. Those of us standing alone will be rendered, but those standing in a big group have a chance of generating some doubt or remorse in the general population. Only large numbers can instill fear in illegitimate leaders bankrolled by pirates.
Your gradualism will never materialize, David, without some of us sticking out our necks. Your militia talk scares me, and makes me think of the past deathstick confrontations.(We'd be mowed down like Wounded Knee or Mai Lai.)
Those "Charleton Heston" days were over before Gandhi and MLK. Warm hearts, come to Inauguration Day and clap your hands, no "cold dead hands" need attend. Barring this, what else could you recommend, since our nominations and elections are both rigged by money and media, if not by voter exclusions and fixed machines. This has gone too far and needs to stop now. The rest of the world realizes it better than media-doped Americans. (What I'm telling Moyers, and you about Moyers, is that he's inside the illusion bubble, but close to the skin and holding a pin. Poke the bubble, Bill. Poke the bubble, David.)

Um-m-m-m-m....?
Now how long will this court thing take? See how enforcement and courts work now: Poor folks under the jail, rich get token fines and country club short-terms. See how Bruce Ivins didn't get his day in court and is being convicted by compliant media? See how small- potatoes Hamdan gets a life sentence from a military starchamber?
It would never occur to me that people would be allowed to "educate" their children in non-corporate values. Those who insist on it would be viewed as cultists, and would produce misfit, unemployable kids. Consumerism permeates school and media, and that's why people are so easily bought. This is getting worse over time, not better. David, the people I'm drawing in to correspondence from this blog are filled with fear and dread. I can see why: I took my elderly mother to a Jimmy Carter book signing and was biometricly IDed by his Secret Service detail as a security threat (because I have been a peace protester). One slip these days can hurt your credit and cost you employment. (I know.)

Honesty is the best policy. Any official we encounter should hear our gripes and concerns. There is too much deference and politeness to criminal accomplices. Those of us standing alone will be rendered, but those standing in a big group have a chance of generating some doubt or remorse in the general population. Only large numbers can instill fear in illegitimate leaders bankrolled by pirates.
Your gradualism will never materialize, David, without some of us sticking out our necks. Your militia talk scares me, and makes me think of the past deathstick confrontations.(We'd be mowed down like Wounded Knee or Mai Lai.)
Those "Charleton Heston" days were over before Gandhi and MLK. Warm hearts, come to Inauguration Day and clap your hands, no "cold dead hands" need attend. Barring this, what else could you recommend, since our nominations and elections are both rigged by money and media, if not by voter exclusions and fixed machines. This has gone too far and needs to stop now. The rest of the world realizes it better than media-doped Americans. (What I'm telling Moyers, and you about Moyers, is that he's inside the illusion bubble, but close to the skin and holding a pin. Poke the bubble, Bill. Poke the bubble, David.)

The answer to the question "How do you punish bad behavior non-violently?" the best way is remove their privileges and make them pay for bad behavior financially. Run them through the court system like any other criminal.

Jack Martin,
The first thing we have to do is define Patriots as those who defend the primacy of the people who constitute our nation not flag wavers who defend the actions of politicians no matter how destructive to our nation. Our constitution states that we should form a militia to over throw our government if it becomes corrupt but that is not possible especially when our state militias are fighting a federal confict leaving our homeland undefended.
Our only hope is a paradgm change in our political sytem through the actions of congress. Every effort must be made to vote people into office who are influenced by the citizens of our nation not the vested interests of corporations. Every effort should be made to take wrong influences out of the system.
The long term effort should be to teach our children to not do or support what is morally wrong no matter who is in charge. Then we need to reward those who stand up to tyranny not punish them.

Dave, Mike, Grady et al (and even Ryan):
What is the proper thing for us as American citizens to do to get the attention of and gradually control of our government? Revolution with "deathsticks" (guns) is fantasy, and media is dominated by powerful interests. Politicians are deaf without beaucoup contributions. What can we do? (Thinking good thoughts or praying have proven ineffective. What headache remedy do you celebrities take?) I tired of making and reading lists of adjustments we'd make if we were in charge: Tired of platitudes and famous quotes: Let's get in charge. Put on your thinking caps! How do you punish bad behavior nonviolently?

Jack Martin,
This has been a productive thread; I hope it will continue despite no longer being on the first page.

I agree with your comment about the manufacture of automobiles.
There is no way to avoid world wide commerse. What is necessary is the management of world wide commerce to assure that it is equitable, just and consistent with everyone's best interests. Our economics must make sure that there is an equitable distribution of funds to support quality societies in a quality environment. Poverty is an indication of a mismanaged and poorly educated society. Without management of economics, society would be chaotic and deadly. Survival of the fittest is not conservative; it is chaotic. Conservative is using your resources to their best advantage.
David Eddy

Ryan: One can never read enough! If you are familiar with me you know I'm a joker who works to draw people's thinking out. (I'm sorry if I hurt your feelings.)
I am an actor and not an economist, but I do read a variety of periodicals and popular books (required in my position as a spokesperson).
I'm glad you are confident enough to use your correct name in espousing your ideas. Paid ideologues have been a problem on this site. You can't really expect us to go back and study Gladstone, or even to discuss why an Altima was better than a K-car. Right now mindless "free trade" (tailored to the needs of speculative profiteers) is wasting energy and decimating local farming and industry in less developed countries. Suicides and starvation are more a result of wealth disparity than protectionism. Protectionism broke down first in poorer countries while the wealthy country producers have retained it. Furthermore, it is dangerous when a nation cannot make sufficient energy,foodstuffs, clothing and shoes, etc. domestically when they are at the mercy of overseas producers and long vulnerable supply chains. Already, energy prices are hurting the Wal-Mart strategy as we see our beans and corn canned in China.(Costs more despite slave wages: suffering all around)
I think resort to myth is required here. Remember how John Henry laid down his hammer, and he died.... after competing with the steam drill? Well, wealthy capitalists can move their "steamdrill" now to find slave labor (not the union waged operator John Henry faced). A hoe and ox rice farmer in India finds himself competing against industrialized rice from a subsidized and mechanized producer. Before global trade he was feeding his family and others but now has no means of earning enough money to do so with his hoe and ox. It is no surprise that he lays down his tools and dies, to the horror of concerned folks like myself here in America. We can't help but resent the traders and their capitalist rules of speculation.
I hate ultraconservatism masquerading as economic theory, as with the Mises Institute (inextricably related to the Chicago School). I think their greatest travesty of recent years was when they awarded Hernando de Soto a gigantic cash prize for a book claiming wealth would be created in Peru simply by the formalization of deeds and contracts (enabling the underclass to assume greater debt). Such work completely disregards the control of formal law and government by the wealthy, and is also blind to the disparity of wealth and power that arise from unbridled capitalism and usury. This disparity is presently strangling self-sufficiency, sustainability, the shift to new energy, and personal initiative around the world. Overarching unjust trade agreements are at the heart of this matter. The village model of specialization has not transferred well to global trade. If you can't see the suffering you are a truly flawed personality.
I mean no personal affront by this, Ryan Stockman. Maybe my perspective is alien to your optimism. Can we talk more?

Gadfly-Leap Howard

Have you ever read any author I listed in my previous comments? I assume not. No response to my points raised just baseless personal attacks. Thats ok deflecting is a tactic of sorts.

Paul Krugman, democrat and NY Times columnist, is a fascist? Thats news to me Gadfly.

If you had bothered looking up any of the authors I listed you'd see they are all center-left Democrats (except Sowell) nothing coming close to the John Birch Society. You fail to mention anything of substance just personal insults. Yes I'm using my real name, you can continue to insult it if you wish.

"It has been conclusively proven by economic trends in our economy since 1983 that corporate capitalism undermines human equity, morality and sustainability."

Proven by whom? The consensus among economists are people with higher skill levels (college tech training) could take advantage of information technology more so than high school graduates. This leads to greater inequality. George W Bush's regressive tax cuts certainly haven't helped. However if you had actually read my post I suggested ways to ease inequality (cheaper education and universal health care EIC's minimum wage etc.)

You mention environmental collapse yet you fail to acknowledge anything I mentioned. Cap and trade and ratifying the kyoto protocol. If you knew anything about most libertarians (Cato) you'd know I'm a democrat for even suggesting Kyoto.

Nothing is achieved by engaging in baseless profane personal attacks.

When you can refute the great works I listed in my previous post let me know.

My point was to give some of the progressives here a reading list to get a different view than the one from Bill Moyers.

Perhaps all of you are members of the green party. Krugman, Bagwattii and Wheelan all endorsed Kerry in 2004. Bhagwati has already endorsed Obama. I didn't think it was too much to suggest to the people bashing free trade here to get a different perspective on the issue.

Or you can just close your eyes plug your ears and start typing personal insults instead of solving real problems. Vague comments about "power" don't really count.

Dave: I'm pleased, but not impressed (with you Moyeristas).
Let's "rethink some principles" (David Eddy) while considering the effects of power disparity (G.L. Howard).
Michael L. Hayes still presents no means of implementing "our" good new ideas. "Term limits", a well-worn conservative remedy means nothing if leaders are continually selected from the privileged classes, We need to insure that representation reflects income distribution. Mostly poor and working people would reflect citizen needs and POV. Fifty percent of households have a negative net worth and 75% of our workers live from paycheck to paycheck, so don't think you can't afford a voice. Use the brain they can't repossess, in your head.
Stockman says,"Do you own an American car..." -what bullshit! Most cars are made under joint ventures between U.S. and foreign firms, so there are in fact no American cars. And the cars we are offered suck because current technology is held back for petro-profit. (We should already have fuel and energy choices and this idiot is discussing the feather hatches and cup holders of the 80s.) Thinking like that should have been buried with Rotten-head Reagan.
Any of you watching the Olympics have no sense. The real spectacle is Chinese repression, coming soon to your job and computer. If you can't do something to help us protest on Inauguration Day you are a sunshine patriot and a fair-weather friend to humanity. People like that deserve Impalas and Chrysler 300s for the remainder of their lives.

Dave: I'm pleased, but not impressed (with you Moyeristas).
Let's "rethink some principles" (David Eddy) while considering the effects of power disparity (G.L. Howard).
Michael L. Hayes still presents no means of implementing "our" good new ideas. "Term limits", a well-worn conservative remedy means nothing if leaders are continually selected from the privileged classes, We need to insure that representation reflects income distribution. Mostly poor and working people would reflect citizen needs and POV. Fifty percent of households have a negative net worth and 75% of our workers live from paycheck to paycheck, so don't think you can't afford a voice. Use the brain they can't repossess, in your head.
Stockman says,"Do you own an American car..." -what bullshit! Most cars are made under joint ventures between U.S. and foreign firms, so there are in fact no American cars. And the cars we are offered suck because current technology is held back for petro-profit. (We should already have fuel and energy choices and this idiot is discussing the feather hatches and cup holders of the 80s.) Thinking like that should have been buried with Rotten-head Reagan.
Any of you watching the Olympics have no sense. The real spectacle is Chinese repression, coming soon to your job and computer. If you can't do something to help us protest on Inauguration Day you are a sunshine patriot and a fair-weather friend to humanity. People like that deserve Impalas and Chrysler 300s for the remainder of their lives.

Michael L. Hayes,
Wow! I am impressed with your post. We need a special Independent Judicial group who represent the people and are responsible for the equitable distribution of wealth. This group would have the power to break up monopolies, tax windfall profits and insure just wages. They would also set tariffs and policies for world interchange.
Instead of having just a Punishment Justice System; we would also have a Beneficial Justice system.
The wages of greed is social corruption.
Dave Eddy

"It is a common experience that a problem difficult at night is resolved in the morning after the committee of sleep has worked on it."

John Steinbeck

Ryan Stockman, Monopoly or Oligopoly, what does it matter if the effect is the same? We are being controlled by mega-corps who have bought up control of our "free press", our government, our financial systems, our food supplies, our employment, our energy supplies and options, and our very lives. The only authority that can break their hold on our country is our government which means we need to remove those within our government who have sold out to big business. The best way to do this is to vote out almost all incumbents this fall and ever after until Congress and the administration start breaking up these "monoligopolies" into small enough pieces that they are controllable instead of controlling. This undertaking does not and probably should not be done instantly nor with malice in mind. The corporations should be given a chance to begin their disassembly themselves in an orderly manner. To prevent this from occuring again we need term limits for Congress as well as the Supreme Court. As far as our media we need to disallow non-media companies from owning any members of our "free press". If We, the People, want to get our country back we will need to become much better informed voters and make sure that we do vote in an intelligent manner. That may be asking a lot but if we are to survive as the land of the free that is what we must do.

Interesting blog. One of the financial websites I just read used the words "Financial Crisis" in the US profile. Also found an interesting roadtrip video diary that has some great commentary about how the economy is affecting common folks. Check out www.redstateroadtrip.com - episode #11 has interviews with truckers about gas prices....

Jack Martin,
Thanks for your comments; they are very encouraging.
Yes, I do live across the water from Seattle on the Olympic Peninsula. It was a rain forest long before people lived here so I have adapted to the rain.
My martial art training has helped me to focus on the correct response to the situation.
The teachings of Christ has helped me to have compassion for people despite their shortcommings. It is no small miracle that we exist and the fact that we have arrived at the present level of civilization. Considering nature functions on a survival of the fittest bases; it goes against our nature to be cooperative even though it is in our own interest to do so. I have my own shortcomings to deal with especially when it comes to sentence structure. Most of my professional writing has been writing manufacturing instructions which is very different from my attempts at posting and creative writing.
On the subject of Global Monopoly Capitalism; anyone who has played monopoly knows that you have only one winner that takes it all. It is essential that in the real world monopoly is managed to prevent corporations from putting everyone else out of business. It is necessary that the economics of capitalism is a smooth running dynamic system that consistently provides a flow of goods and services world wide. Equity and Justice depends on meeting people's needs and desires within reasonable expectations. Because the present technology, communications and transportation has made the world a small place; it is necessary to have universal economics. Economics needs to support many cultures and many political social organizations so that we can share our wealth and our resources. In order to manage economics it will be necessary to have many regulations and agreements in place. We have the resource; what we need is an efficient economic system based on providing people quality lifestyles based on need not greed.
I have done forty years of research into human and social systems. I have worked with top level management. I have written four books on social organization that I am trying to get published. It is my hope that my efforts have not been in vain.
Dave Eddy
taichi-wuchi@msn.com

It's a shame Michael L. Hayes and Jack Martin are not underwritten by the corporate capitalist establishment as is Ryan Stockman (related to David Stockman?) John Birchers have long used libertarian idealism as cover for fascism.
It has been conclusively proven by economic trends in our economy since 1983 that corporate capitalism undermines human equity, morality and sustainability. As we are on the verge of the "Greatest Depression" with concurrent environmental collapse Stockman's comments are plainly propagandistic drivel from the mouth of a drone. Hayes and Martin are wracking their minds to save our ship while such gremlins drill holes in the hull with doctrinaire jibes. Look "Ryan", if you can't comprehend Bill Moyer's Journal, Big Brother House may be more your speed.

What is lacking in this discussion is understanding of power, and how the application of power determines human perception and choice. Whether free trade or socialism the respondents here discuss idealized forms and solutions without regard to how people are constrained and indoctrinated by the many phases of power. In a nation of vast wealth disparity there is also a disparity of democratic and economic opportunity. I believe Hayes and Martin would do better to enable the oppressed (includes the "middleclass") to see what is beyond gas prices, global warming and the ways we are compelled to work for our living. Help them see the possibilities, Moyeristas.

Ryan Stockman: Quit reposting the same bullshit copied from Greenspan's diatribes. You are wasting space, and wasting vital precious time. Try a Dr. Pepper and Mentos brain enema!

I just combined Jack Martin and Michael L. Hayes commentments into one rant.

Sorry the statement on strategic protectionism is Jack's.

The statement on trust busting is Michael's. Sorry again. I wish I could edit my posts. My comments still stand. Oh and thanks to PBS for allowing me to complain.

"strategic protectionism, just as when our nation was founded (income from high tariffs and self-sufficient domestic production, as much as possible). Who really benefits from "free" trade? Why it's the global monopoly capitalist.

This is a very troubling statement from anyone who knows anything about basic economics. It's hard even to comprehend (knowing what I know) how anyone could think this was a good idea.

Everything about that statement is not only incorrect but incredibly dangerous to our standard of living.

Strategic protectionism? What would that be exactly. (Rhetorical) That would be special interests wanting a handout to "protect" their area of industry. Keep in mind this would be in favor of a minority (steel, cars, airplanes, textiles) and a negative to the majority (consumers). Competition is a good thing for our economy as a whole.

For instance does your family drive an American car? Do all of your friends drive American cars? No? Didn't think so. Few people would trade their cammery for a chevy or their Audi for a Lincoln. Cars are cheaper much much more reliable and include an incredible amount of features. Competition is good. In 2006 Hyundai made stability control, anti-lock brakes and side-impact airbags standard on their new Sonatas. Guess what? Toyota, Honda and eventually GM made the same changes. Competition works to make goods better and cheaper. Cheaper products raise my (and your) standard of living.

Consumers (the middle class and the poor) benefit from free trade. 1817 marks the turning point of modern economics with Ricardo describing comparative advantage. Even if one country can produce every good more efficiently (absolute advantage) there are still gains overall from trade. Ricardo's examples are rather simple but if you want you can read Paul Krugman's (a democrat) textbook on international trade he adds many complications to the basic theory.

Protection will only slow the inevitable. The overpaid union jobs in Michigan will never come back. You can try to "save" the jobs but either the company goes out of business through competition or the government must use tax payer money to prop up the inefficient sector. Either way it's a waste of taxpayer money.

England tried this during the 1960's and 1970's. By 1976 after nationalizing various worthless industries (who should have died) and paying incredible amounts for their welfare state Britain defaulted in their debt. People wonder why Thatcher came to power.

Self-sufficiency is also a path to poverty. This is pretty clear cut. If self-sufficiency led to wealth North Korea and socialist India (1970s) would (would have) be the wealthiest countries around.

Yes people like Abraham Lincoln were protectionists but that doesn't mean they were right. Lincoln was mistaken thinking somehow the country was better off not using much cheaper British steel. We could have built more railroads cheaper had he not decided to try self-sufficiency.

As to the founding fathers, Adam Smith wrote Wealth of Nations in 1776. Ricardo didn't articulate comparative advantage until 1817 and Britain still had the horrible Corn Laws in the 1840's. Also remember there was not an income tax in America until the 20th century so tariffs raised revenue. Also keep in mind most if not all the founding fathers had read John Locke and David Hume ,the intellectual pinnings of the enlightenment, who were pro freedom and pro capitalism as well as pro trade.

Greater trade liberalization is well founded in academia and has been now for 50 years. Read Krugman, Bhagwati, Sachs, Sowell, Collier, Wheelan, Samuelson. People trust the scientists to inform about Global warming why not the scientists with PhD's in economics? All of those authors above except Sowell are Democrats. Who knows more about economics, Naomi Klein or MIT educated Paul Krugman? Hmmm i wonder. Columbia professor of economics Jagdish Bhagwati or Bill Moyers? Hmm who is more qualified? Also as a side note Krugman is merciless on "strategic trade" (strategic protectionism) in his book "Pop Internationalism".

As far as trust busting, none of the companies you listed were monopolies they are oligopolies. There is a difference. Democracies are free to enact rules that stop companies from owning large shares of different industries GE owning NBC. However none of those companies are a monopoly. In fact I would leave GE alone they are one of our great diversified companies. Most oil is controlled by countries not evil corporations. The state owns the oil in Russia, Mexico, Venezuela, and Saudi Arabia. They control the reserves and hence the price.

So I digress it is too difficult to try to convince you or any other misinformed progressive. I encourage all the progressives here to at least read a Krugman book on economics (not conscience of a liberal trade is mentioned only once) so you have at least an elementary understanding of the history and basic tenants of capitalism and free trade. Enacting protectionist policies will only make the country poorer.

To solve issues of inequality you need real solutions. Free trade should stay. Feel free to push for universal health care, increases (nothing drastic) on tax rates for the wealthy and higher earned income tax credits and/or a higher (within reason) minimum wage. We should have a cap and trade system for carbon and should ratify the Kyoto Protocol. Feel free to subsidize university education and give more help to retrain workers who lose their job in Ohio. These steps would help level the playing field and take some of the anxiety away from middle class Americans.

I know most of you listen to NPR and watch PBS please as a Gladstonian liberal I urge you to educate yourself on some of the most important findings in all of economics. I personally am sick of people repeating the same falsehoods of international trade over and over. Mr. Moyers doesn't help things as he has firmly made up his mind. As have I, except I'm correct and have the evidence to support my position. All Moyers has is misunderstanding and ignorance. Gladstonian liberalism will return to extinguish this "progressive" nonsense.

For an Economy to survive it needs stability. Our current economy has a glutonous war in progress with no end in sight, all corporations doing whatever it takes to please Wall Street instead of producing quality products, Business taking it's production overseas which includes food stuffs as well as manufactured products, an oil based society that has paniced because of Wall Streets speculative effect on petroleum prices, misguided or poorly thought out attempts to replace oil in our diet, and a government that has been taken over by little Nazis who have disconnected the Constitution and numbed Congress into submission. I do not know what could be worse than that. We obviously need to renew or replace the current government with a sane and stabile one in order to even begin to tackle the problems we have at hand. Think impeachment on a grand scale. If that does not occur we must begin voting out almost all incumbents in order to wrest control of our government back to We, the people. As far as energy is concerned we need to calmly ascertain what we have and where we need to get to in order to stop our dependence on oil. With that in hand we must determine a master plan to coordinate the shift to electric power and implement it in an orderly manner while creating as many jobs as possible to help work our way out of this recession/depression. Another very necessary venture is to bust up the monopolies that have endangered our country(all conglomerate corporations such as Exxon-Mobile, Texaco Shell, General Electric, etc). Trust busting needs to be a major part of our recovery. These mega-billion companies have destroyed the freedom of our media, the independence of our government, and the job stability of the majority of our work force. If these things are not done and very soon we may never be able to recouver short of another revolution!

David Eddy's "rethink(ing) the principles of economics..." is a thought we must all hold in our struggling minds. I admire David and have watched his tentative expression grow and develop on this blog. A person of strong convictions (Christian, I think) and personal discipline (martial arts, listener with an open mind), he typifies what many should aspire to. Aren't you up near Seattle, Dave?
Anyway, I have a personal grudge against global monopoly capitalism, where the rich guy wins no matter what. Now we come to a new phase of Sovereign Wealth Funds (owned by government, militaries, or large religious factions). These entities are capable of absorbing our industries and resources under current economic rules of global trade. Under such a scenario, no government would be capable of determining environmental rules, labor protections, minimum wages, standards of living, independent infrastructure or production. The whole world would become like Manchuquo under Japanese occupation, with some populations raped like Nanking. As popular as we Americans are now we are a primary target for subjugation, our rah-rah military becoming the oppressors' mercenary organ. What I'm saying here is that the present rules of the capitalist game do not favor the well-being of the U.S. population.
An alternative scenario would be as Sen. Ernest Hollings described, beginning with strategic protectionism, just as when our nation was founded (income from high tariffs and self-sufficient domestic production, as much as possible). Who really benefits from "free" trade? Why it's the global monopoly capitalist.
What do you think of that, David Eddy?
beretco.op@gmail.com

We need to understand that Economics is a human designed invention to make it possible to exchange goods and services through an efficient means of exchange. We have at present a very complicated system of economics that is based on trust and fidelity. the fidelity has been corrupted and the trust is going away. Everyone is responsible for their part in the function of economics through their moral obligations to justice and equity. We need to pay the right price and get quality goods and services. Wages must be consistent with the cost of living. Greed must be replaced with temperance and concern for the human condition. There needs to be sufficient funds to pay for the goods and services that are required for a quality society that services quality people. Education is responsible to educate people in social skills and human kindness. Our lives depend on good will one to the other and the funds to support that good will.

"Today in most fields I know, The struggle is about creativity and innovation. There is no script."
Robert Shapiro

The first thing we have to do to turn around the present set of economic disasters is to rethink the principles of economics

This economy taken a downturn only after the Democrats have a majority in congress and the senate. Super high gas prices and huge housing value losses only happend after they "Democrats" have taken leadership in house and senate. Dont even say its because of Bush either. The Democrat leadership is failing to bring prosperity and an end to the war like they "PROMISSED". Mr Obama has "Changed" on the war and many other things that he was strongly opposed to not so long ago. Let him put out a "LIST" with his positions so there isn't any question about his position. If Mr Obama is against the war and will pull our troops out lets have a definite date! No more muddy waters...I want to know what im voting for this time, IN WRITING!

How have the recent economic troubles played out in your community?

I live in San Francisco. This city has become a playground for rich and wealthy. I can't say that recent economic troubles seem to affect San Francisco as much since most of the people who are employed here have white collar jobs, i.e. lawyers, doctors, accountants, etc...However, if you were to focus on each specialized white collar profession, such as medicine, you definitely would find some economic trouble. Case in point. More and more doctors in San Francisco are not accepting private insurance anymore. They are starting up boutique practices and accept CASH ONLY. You can imagine how awful the situation has become as one of our favorite doctors who used to be on our plan, no longer is. Bill, I sure hope you do more reporting about how private doctors are no longer accepting insurance as a method of payment.

What do you think should be done about our economic troubles? Who should do it? What do you expect to happen?

Here's what should be done and in no particular order:

1) Institute a single payer health care system in this country - It is a must!

2) Nationalize Freddie May and Mac. Both institutions should be run by our government and should work exclusively on behalf of the taxpayer and no one else.

3) Raise taxes on corporations in this country to the level they once were (going back to the 1950s)

4) Pass a new, national anti-usury law! Eliminate bank malfeasance and predatory lending practices as practices by banks today

5) Completely BAN fundraising by publicly elected officials. Our democracy must be entirely funded by government tax revenues.

6) Make marijuana a Class II drug. Eliminate federal funding to the DEA for its pursuit of marijuana sale and cultivation. The WAR on drugs MUST END.

Just a few things off the top of my head...

Dear Bill - When you first started the NOW series of expose's, you dealt with some serious problems with academic freedom.

You might want to check out the URL above on that topic even though it does not involve lots of people, only well-documented criminal actions of Eastern Michigan University that have rendered me permanently unemployable since 1982.

You can call that an "Eeconomic Downturn" for one person if you like.

I am available if you need to do an interview or obtain documentation.

I would suggest more on this issue as there are lots of cases involving teachers being mistreated. This one shows how tenure is no protection now.

Best regards, Bruce Graves

Friday, 07252008

Still, I want to love America...

Freddie Mac and Fannie Mae helped to eliminate the honest appraisers so to artificially inflate the home price for higher profit, The Office of Thrift Supervision knew it, FHA/HUD had a HUGE hand in it. Mortgage Guaranty Insurance Corp. knew it.

In the late 1980's the House Government Operation Committee said: "If sound valuation practices are not followed, HUD"S risks are increased." Yet they continued deregulating.

Why? Because instead of being punished, everyone gets bonuses.

I was put out of business because I tried to protect the public from exactly what is happening now, I have spent the last 20 years trying to get the MEDIA and Congress to address this issue.

I cannot print a web site but go to appraiserspetition. com
How can a problem that was blamed for over 1/2 of the LAST taxpayer bailout of these crooks STILL be a problem today? Your Congress and the MEDIA

This is a letter I received when trying to get help as an appraiser in Texas.
Our Congress not only knew this second bubble would bust they created the whole thing.
Forgive my simplistic view, but if a mortgage has adequate collateral there would be very little to no loss to all, so why did Congress eliminate the honest appraisers that refused to succumb to the pressures to hit the "right numbers" in the 1980's after the last bailout?

HENRY B GONZALEZ, TEXAS. CHAIRMAN
BRUCE F VENTO. MINNESOTA CHARLES E SCHUMER. NEW YORK KWEISI MFUME, MARYLAND JOHN J. UFALCE. NEW YORK MAXINE WATERS. CALIFORNIA HERBERT C. KLEIN. NEW JERSEY CAROLYN B. MALONEY.NEW YORK PETER DEUTSCH, FLORIDA LUIS V. GUTIERREZ. ILLINOIS BOBBY L RUSH, ILLINOIS LUCILLE ROYBAbALLARD. CALIFORNIA THOMAS M. BARRETT. WISCONSIN ELIZABETH FURiiE. OREGON NYOIA M VELAZQUEZ, NEW YORK ALBERT RUSSELL WYNN. MARYLAND CLEO FIELDS. LOUISIANA MELVIN L WATT NORTH CAROLINA

U.S. HOUSE OF REPRESENTATIVES
SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT
OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS
ONE HUNDRED THIRD CONGRESS B303 RAYBURN HOUSE OFFICE BUILDING WASHINGTON, DC 20515-6052

MARGE ROUKEMA. NEW JERSEY DOUG BEREUTER. NEBRASKA THOMAS J. RIDGE. PENNSYLVANIA RICHARD H. BAKER. LOUISIANA CRAIG THOMAS. WYOMING JOE KNOLLENBERO. MICHIGAN RICK LAZIO. NEW YORK . ROD GRAMS, MINNESOTA SPENCER T. BACKUS III. ALABAMA MICHAEL N. CASTLE. DELAWARE DEBORAH PRYCE. OHIO TOBY ROTH. WISCONSIN
BERNARD SANDERS. VERMONT (202) 225-7054

May 18, 1994

Mr. Steve G 4820 Westgrove #2205
Dallas, Texas 75248

Dear Mr. G:
I am writing in response to the recent letter regarding your unfortunate experiences as an appraiser in the past few years. First of all, I commend your meritorious honesty as a certified appraiser in the state of Texas. I sympathize with you and find it a shame that the fiduciary relationship you attempted to maintain with your employers went unnoticed and unrewarded.
Unfortunately, the Congress cannot legislate honesty throughout the banking and appraisal industry. I am confident that there are many respectable banks and mortgage companies who are in great need of an appraiser with your integrity. Rest assured that I always fight to uphold the FHA guidelines and I will continue to maintain the most effective way to protect borrowers and deter unfair lending practices.

Thank you for contacting me personally on this matter. With every best wish I remain Henry B. Gonzalez Chairman

Of course they couldn't regulate HONESTY in the industry, the PAC's and lobbyist's were paying them to de-regulate it.

Again, how can something that was declared; "a serious national problem costing taxpayers billions..." by a Congressional subcommittee in 1987 still be a problem TODAY?

One real simple question:
How does one:
"maintain the most effective way to protect borrowers and deter unfair lending practices. "
If one cannot regulate HONESTY in the banking and appraisal industries?

Why (sorry, I lied about one question) when a Congressional subcommittee, chaired by Con. Doug Barnard, Jr, said:
"...that it is extreme pressures on appraisers from real estate lenders and borrowers that MOST often cause bad appraisals."

"Alarming numbers of lending institution officials regard appraisals as an obstacle to be overcome or a rubberstamp..."

"While appraiser ineptitude is occasionally responsible for inadequate appraisals, MOST abusive practices result from explicit or implicit threats against appraisers, by real estate lenders and borrowers, that their services will be discontinued if they fail to provide the "right" numbers."

did FHA/HUD enact the direct endorsement program allowing lenders to hire in-house staff appraisers, in 1985?

They just took an independent entity and made him an employee of someone who viewed him as an "obstacle to be overcome"

If the lenders had such a strong adverse effect on appraisers when they were independent contractors, what are they going to do now that the CONGRESS made them salaried employee's?

Again go to the petition, HOW is this STILL a problem TODAY.

YOUR Congress and a media owned by big business.

And I have been after everyone from Congress to Presidents and especially THE MEDIA every since, for if all mortgaged home loans had ADEQUATE collateral and not backed by an artificial market this wouldn't / COULD'T happen,

That's the whole point in having an independent appraisal. To make sure the bank and MOST important the TAXPAYER is protected from unnecessary losses.

And it was a democratic Congress along with Ronald Reagan that dereguated it all, what has trickled down but taxpayer bailout one after another.

We've cut our driving by two thirds. I make our bread and do a lot of 'scratch' cooking. We recycle everything possible. We use CFL light bulbs, turn our computers, TV's, etc. off at the plug-in strip. We're about to buy a clothes line. And still with all this we're having to use our meger savings every month just to break even. To say we worry is to understate our predicament. We can only imagine how tough it must be for our neighbors and I dare not think about families with children. Does this make us whiny Americans?

Saint McCain will save us.

Check out humble down to Earth McCain's latest campaign poster and post the first thing that comes into your mind:

http://talkingpointsmemo.com/archives/205288.php

Here's mine "Is he running for President in this life or next?"

And by the way, are those his angels of death flying in the background?

Buyers Share the Responsiblity, you have another thought comin.

The buyers have lost their homes, and all the money that have spent up to present. How much has Angelo Mozilo lost?

Last night I heard about the investigation into how the lenders where not offering all the available loan to minorities that they offered to whites.

You are missing much of what has been said, and cherry picking instances. In the case of what you provided for an example they should have lost their, cause they were willing to take a risk. That is not what they were talking about that went on in most cases, with still millions more to come this year, and next.

I would like to suggest a solution to the current crisis in the economy. I call the plan 3/30. In essence we could have Freddie Mac and Fannie Mae; in return for our government guarantees, offer a new plan to US Citizens. Called the 3/30 Plan it would allow all US Citizens a chance to buy or refinance a home for 3% fixed interest with 30 years to pay the mortgage. The plan would be offered for the next 30 months.

This plan would put money back in the pockets of the homeowners, help liquidate the surplus of homes on the market and give financial institutions a boost in income from the financing activities.

Sticker shock, gas-pump shock, grocery bill shock... We increasingly hear about such things on the CNN news grind and on their specials like On the Money and Issue #1.

However, there was a shock in 1971 that seldom gets mentioned: the Nixon Shock. This is when Nixon, on his own and without advice, consent, approvals or any of the supposed checks and balances, broke the pledge made with the world at the Bretton Woods conference and reneged on exchanging dollars for gold at the fixed exchange rate.

Since then, the U.S. has freely printed currency with few if any constraints except the escalating national debt and the mounting trade deficit.

Countries like France and Saudi Arabia who request an exchange of gold for the dollars they hold are out of luck.

Is it any wonder that world is turning more and more to Euros as the international monetary standard? How long will it be before the price of oil is reported in Euros instead of dollars?

How did Nixon get away with this? I guess because he was the Decider at the time and no one had the courage or authority to challenge him.

As Reverand Wright says, "All those chickens ... gonna come home to roost."

I would really welcome a discussion about this, either on this blog or on your show, Bill.

I very much enjoyed all the learning I did from the program this week. It gave me a long list of questions to review, research and discover. I wanted to thank you for the book "Moyers on Democracy", I have just finished this fine read for the first time. I bought the book because I thought my Father would have given it to me for Christmas and have been so pleased. I start my day with a poem and scripture, exercise and prayer and have ended it with reading one of the speeches. I was so moved and inspired by your writing that I posted a review on my Blog and hope it will inspired others to read and enjoy this work. Thank you for all your efforts from an educator's daughter who is grateful for all you do and share with us.

Thank you for having mr Greider on, it was like listening to my self. Those who have and are leading the US of A have become driven by power and greed. They have sold out to the special interest people of corporate america and lost sight of the meaning to serve. I'm old and most of this will not affect me. But future generations will pay the price of greed. Those in power have beckened to the special interest groups and lobbiest. If there is no change of running this government, the Mayan calander my have some real meaning in 2012.

Danny Clarke wrote:

"Why is this [the fact that our currency was removed from gold/silver backing] never brought up in discussions like the one last night? It seems like an obvious abuse of power and a point of departure for the world economy."

I think this is a great point, and I, too would like to know the answer. It seems that if gold/silver backed currencies were allowed to circulate freely (i.e. without capital gains or collectibles taxes) and compete with the Federal Reserve Notes we currently use, the gold/silver backed currencies could act as a check and balance against profligate Federal Reserve Note creation, and thus help limit overall debt.

Mark, you need not refute anything I had to say, because it is all true. My friend told me it was no big deal to go into foreclosure. In fact, filing for foreclosure would benefit them because there was such a backlog of foreclosures in their market that they'd probably be able to live in their home for free for a couple months before the bank moved forward. It might hurt their credit rating for a while, according to my friend, but they didn't plan to buy another home anyway, and the foreclosure wouldn't be on their record forever. They were appalled to find that now they pay more interest on their credit card, and thought that wasn't fair. In the same conversation, they said they might go into bankruptcy even though they are perfectly capable of paying all their bills. Bankruptcy would just make things easier for them. Isn't the fact that high-risk debtors might default on their debt the reason that creditors charge higher interest?

Mark, feel free to make whatever accusations you want to about what I think about slavery; the fact is one of my greatest heroes is Abraham Lincoln, and slavery isn't the issue here. We're talking about adults freely entering into contracts to which they are obligated. The reality is that if we blame everything only on "big business" and always assume individuals are simply poor victims without holding them accountable for their actions, people like my friend will take advantage of the system to take what they can get, and we'll all suffer the consequences. Honestly, I find it very patronizing to individuals to assume that that they aren't capable of making adult decisions. How does it respect individuals to assume that they can't make informed and responsible decisions about obtaining debt to finance their homes? If we are producing a generation of adults who aren't able to responsibly make decisions like obtaining mortgages, we need to look deeper at our system and make other changes so that that can happen.

Holding individuals responsible for their actions, as I said earlier, does not alleviate the need to regulate the banking industry. Our government dropped the ball by de-regulating the banking industry. And many bankers drop the ball when they recommend inappropriate debt solutions. But when I approached bankers and have been approached by bankers who recommended ARMS with balloon payments and other debt instruments that were inappropriate for me, it was my responsibility to turn them down and do business with a banker who recommended and provided appropriate debt solutions. I did so, and I'm paying my debts, even those that felt "unfair" to me. It's not unreasonable to expect the majority of adults in our country to do the same.

Bill,
Thank you so much for this particular program and for having William Grieder be your guest. It all makes sense that just about every governmental department has been deregulated, which no longer represents the best interests of our nation and its citizens. I have enjoyed every one of your programs - especially Buying The War; Holly Sklar on Work & Wages; Steve Fraser on Gilded Ages; Media, McClellan, & the War; Government Oversight with Congressman Waxman; and Traces of the Slave Trade. Like you, I am deeply concerned about mass media and the loss of our democracy. Thank you also for your presentation at the Free Press Media Conference. I am hoping that the FCC and our Congress & Senate can break up mass media corporations and that Free Press will have a major impact towards this, as well.

Finally...but too add...Washington "is" ignorant of its own country, but more so the rest of the world. So it has been..mimimize the talk and the lack of regulation by these huge corporate interests. B.Moyers...A very interesting and good program!

Once there was a huge fire in the forest; So everyone was scared and running for cover. But, a hummingbird alone choose to fly to the river and bring back water to help put out the fire. Trip after trip until...

If you are trying, or even thinking about helping to make a difference, be even more courageous, and the world will come to you!

Words of one Latin America lady who so live her life.

Mr. Moyers, another excellent show this past week. You are, in my humble opinion, the conscience of this nation. The Journal is an hour that not just every American, but every human being, should watch each and every week. It is simply the best public affairs program going.

As for what BUYERS SHARE had to say, well, I have neither the time or inclination to refute all the fallacies of his rant. I'm sure he/she also blames the blacks for being enslaved (they should have simply run away!).

It's true that banks and our federal government hold responsibility for the mortgage crisis. But it's equally true that those who have received sub-prime loans hold responsibility as well. This is not the tale of a cunning and powerful predator taking advantage of innocent and naive victims. It's a tale of everyone in the system trying to make a buck at everyone else's expense, and the Federal Government taking a hands off approach. Lenders are responsible for making loans that are likely to be repaid. Borrowers are responsible for borrowing money that they can and will repay.

A friend had a house built in a booming market; one where housing prices were escalating sky-high, beyond all reason, buoyed by easy money. The intention in building the house was to cash in: borrow as much money as possible, even though it was beyond the couple's ability to pay, which the couple was well aware of; live in the house a couple years, letting the value of the house continue to grow beyond reason, even though any reasonable person could see the bubble would burst and burst soon; then sell, taking the money and run.

Once the house's value dropped below the debt left on the mortgage, the couple changed its tune, dumping the house on the lender, even though the couple now, three years later, could certainly afford the payments on the house.

The couple made choices to take a risk to gain some easy money. When that plan didn't work out, they bailed on their responsibility. Now they're complaining because credit card companies want to charge them 30 percent on their cards, and are considering filing bankruptcy, even though, again, they have the money to pay their bills. It's their CHOICE to shirk responsibility, and to dump their debt on banks and taxpayers.

Any solution that places the blame for this problem on one sector of the economy -- whether that be banking, regulating, investing, or homebuying -- without placing appropriate responsibility on the other sectors of the economy is a misguided plan. All sectors contributed to the problem; all must share in the responsibility.

The people who attempted to raise concerns about the 'housing bubble' were unable to get enough attention to prevent/correct the current 'bursting' of that bubble. Now there's an oil bubble that shows sign of 'leaking air'. Do we yet know whose rapacious greed we will support with a bailout when this bubble really does burst?

Thanks OUTRAGE for your Wall Street Journal article (link).
So even the investment banking class are surprised people don't react to systematic theft of their labor and their civil degradation. Now they can be confident social ingenuity has been extinguished??????????

I often mention the work of a Canadian couple, Avi Lewis and Naomi Klein who write books and produce shows and videos. They recently returned from China and were horrified how far electronic surveillance has progressed there with American corporate assistance, a veritable olympics of oppression. Such was not the case in previous reporting from Argentina where workers have seized bankrupt businesses and are operating them as collectives and co-operatives, sometimes with government assistance.
The U.S. has lost its way. Will we follow the Chinese experiment of iron fisted wealth disparity or experiment with softer grassroots possibilities like some South Americans?

My MacLaughlin answer, "CHINA...bye-bye!"
And why do I say that? Americans who have such imagination have inadequate resources and experience. Even the few who succeed with an alternative organizational strategy are soon eradicated by upstart corporate competitors who have all the legislative advantages. Financial co-optation (selling out) is also a hazard for members lacking solidarity. We have been socialized to expect at least 9 losers for 1 winner in our economic model. Now the ratio is really pepping up to 100 to 1, 250 to 1, or even 500 to 1: such is totalitarian faschism (I spell it that way on purpose.). Sometimes I think that sado-maschochism
is a more valued product than food or energy. We have all become predatory in our daily employment.

I guess what I'm searching for is bloggers who will email me at least once to say there is hope and that they will try to do at least one demonstrable thing to resist.... but so far Moyeristas are all mouth (keyboard).(except for 8 or 10 brave or careless correspondents)Some of you I have reached out to seemed so frightened.
beretco.op@gmail.com

Why do we only here about US inventories when we here about oil. Why would the US companies want to hold more then a 20 to 21 day supply at the current high price especially when they are protected by the markets that allow them to sell their oil at the highest price no matter how low their cost was. They are protected if the price goes down by their small inventory.

What we really need to know is world inventory. Does anyone no how many super tankers are out at see with full loads. It just seems to me that the only reason that oil producers are cutting back on production is that there is no place to put it. A recent report in CNN said that there were 11 full tankers off the coast of Iran for a week. I can picture an ocean full of very slow moving fully loaded tankers waiting to unload while empty tankers a running at high speed to fill up again.

One thing that could be done quickly to slow inflation would be to offset the high price of fuel for truckers that transport food, farmers and fisherman. This could be done by providing a limited release of of oil from the stategic reserve using some type of voucher program. Remember that the average cost of fuel in the reserve is much lower then current prices. The difference could be used to fund the program.

This would serve to reduce food prices and relieve some of the infationary pressure which hopefully will stop the FED from raising interest rates

I was very moved by your reporting on the disintigration of the Cleveland neighborhood. It got me thinking about similar problem we had in Dayton, OH when I served on the Environmental Advisory Committee. An old Dayton industry disappeared and the bank then owned the decaying industrial facility. It had asbestos insulation around ducts and as it deteriorated and the wind was blowing it through out the neighborhood( no windows, doors). The propertry was unsellable (no one in their right mind wants the unknown liability for prior industrial contamination), the homes adjacent were also undesirable and now the health of the near by residents was threatened. Who was to pay for the asbestos clean up? The taxpayers or the bank? Bank said not me.

When Banks hold property they think that they have a different standard of ownership.

Let me explain: when I own a house I must pay taxes on the property, mow the law, prevent noxoius weeds from growing, limit the kind and number of animals that live in the house ..... When the bank owns the property it should be held to the same standards; pay taxes, mow the lawn, prevent noxious weeds from growning, etc. No special priviliges for these so called corporate citizens. It is expensive and hard to maintain an empty building. If these buildings were maintained there would more housing on the market, hopefully lowering rents and reducing the number of homeless. Having to meet the owners obligations would cut down on the profit in banks (think of predatory lenders maintaining properties in 10 different states) and and mortages would be more of a local affair.

Truth to people is sometimes as hard as truth to power.
If there are openings for a new political awareness and new options for voters then that will be our salvation I certainly hope you're right about that.
It's time to hone our views and perspectives on just what that alternative future will look like.
We have started that journey at Standards of LIFE and hope you and your viewers will join the conversation at www.standardsoflife.org.
Thanks for speaking truth to all.

Kudos to Bill Moyers and PBS for yet another outstanding episode of the ‘Journal’. Please allow me to comment on both segments.

First, Cleveland. I do not mean to slight the city of Cleveland, but from the looks of the neighborhood, many of these properties were in bad shape to begin with. And to Bill Moyers – I think it is somewhat irresponsible to use a rundown neighborhood as your centerpiece for the mortgage crisis. You definitely did your best to present the worst case scenario as the norm. Stockton, California, another city hard hit by the mortgage crisis, has a multitude of abandoned homes, but very few bulldozers tearing them down. What is the difference? The homes in Stockton are newer and still liveable. And there is also economic viability in the region. Cleveland, on the other hand, is reeling from all kinds of economic hardships. That said, officials in cities like Stockton can certainly gain something from Cleveland’s predicament, and it still may not be too late for other districts in Cleveland to save themselves from the onslaught of the bulldozer.

So what can be done?

“To put innocent people out on the street and then just sit and let the property rot is outrageous. You'd think these morons (mortgage companies) would at least be motivated by the promise of continuing cash flow.
This is clearly a case where the legal system and the courts should have forced these lending institutions to take responsibility for their property and the people who live there.
Unfortunately for the citizens of Cleveland (and how many other cities?), it's too late. The buildings are being bull-dozed, and nobody wins.” Larry Miller, Cambridge, MA

What can the city of Cleveland do about all of their abandoned homes? According to Cleveland City Councilman, Tony Brancatelli, he wants blood from the mortgage companies – “And we need to have these mortgage companies step up to the table and say not just they're going to give us the house, because I don't want this house. I want this house, plus $10,000 for demolition. I want this house, plus environmental remediation money, so I can come in and clean it up and reoccupy it.”

Those demands seems fair, and it is up to Councilman Brancatelli and his colleagues to enact legislation to protect the interests of the city.

Once a house becomes vacant through foreclosure, there should be a step by step process the city can take to remedy the situation. First and foremost, the city can certainly put a lien on the property for any costs incurred through remediation or demolition, can’t they? If the bank wants the house back, they have to pay off the lien before they can resell the house.

What if the bank abandons the house? Well, if the house is in liveable condition, the city should enact emergency public safety legislation that allows them to take over any abandoned house within a reasonable time (six months? one year?). I’m sure Cleveland has a redevelopment department. Take over the abandoned house through eminent domain, make it liveable, and rent it out to a low income family. . . all in the interest of public safety. If the house becomes neglected or vandalized to the point it needs to be demolished, then the property owner immediately forfeits their right to the property through eminent domain. An empty lot might stay vacant for some time, but eventually the economy will come back and the city can sell the lots to developers and recoup their losses. The lot itself should be worth far more than the $10,000 or so it takes to demolish the house.

It really sounds like a number of mortgage brokers in Cleveland played the system, knowing full well this would happen. Is the city or state real estate commission pursuing criminal prosecution?

This segues us into the second segment, an interview with journalist William Greider. I thought he was very knowledgeable and fascinating, but it became clear that this is a complex subject – they barely scratched the surface in the thirty minutes or so alloted for the discussion.

The big thing most people want to know is “who should we point the finger at”?

“If greedy homeowners would have just said NO to risky loans then there would not be any 'mortgage crisis'.” Steve S.

“As a realtor, I know a number of mortgage brokers who are appalled by the number of people attempting to take out a home loan who are plainly not qualified. Everyone, banks, brokers, financial institutions, and borrowers have all been a part of this debacle.” Michael Bartos

So Mr. Bartos, they were “appalled” – but did they let the loan go through anyway?

Obviously, every stop along the food chain needs to be considered, from the homebuyer all the way to the investor who is left with worthless debt instruments. Any homebuyer who made fraudulent statements about wealth or income, only to end up in default should be prosecuted. Any mortgage broker who coerced a homebuyer into a risky loan should be prosecuted. In the latter case, I think Mr. Greider’s explanation sums it up – “Usury, to be clear about it, is rich people taking advantage of poor people by lending them money on terms that are sure to make them fail.” Buying a home is a complicated undertaking, which is why mortgage brokers are licensed by real estate commissions. Homebuyers rely on these ‘experts’ to tell them “yes, you can afford this home” or “no, you cannot”.

And then there are the investment banks and the government officials who deregulated the industry. . .

Unfortunately, it is not so easy to just point the finger at one group of people are another. Each piece of worthless paper must be treated on a case by case basis, and whoever is responsible (if there is proven wrongdoing) should face consequences. Hopefully, somewhere down the road there will be time to sort out the mess and let justice (at all levels) prevail.

Economics is an essential element of social function not an arbitrary crap game where one person wins and everyone else loses.
Economics is the life blood of the society. Without an efficient, equitable and just economic system; the society is doomed to failure.
Our present system of economics is a system that will self-destruct. Without sufficient funds people's lives quickly deteriorate. While frugal is essential to stable economics and to avoid inflation; a stalled economy is disastrous.
Making jobs available that at least pay the cost of living is essential to a quality society and meaningful life styles.
Greed is a serious economic virus that can destroy any economic system. While capitalistic corporations are essential to social function; they are not human entities. It is essential that Corporations are managed to be consistent with people's welfare. Otherwise, people become slaves to the corporate system, creating hell on earth and their own demise.
Money is both the root of all evil and the source of goods and services. People need to know the value of all things as well as the fair price.

"Each friend represents a world in us, a world possibly not born until they arrive, and it is only by this meeting that a new world is born."

Anaïs Nin

"The other two are just puppets of corporations and jews." Posted by: Ralph Raider | July 20, 2008 08:32 P

The two major party candidates are not my puppets.

The mortgage crisis is mostly caused by greedy and materialistic homeowners, not by banks. Do not buy a house you can not afford or if you do not understand how to buy a house.

The government should not bail out anyone. Kick people out of the forclosed homes and let the banks close. We already have plenty of banking rules and anyone that broke the rules should be punished.

Would you blame the car salesman if he talked you into a larger car than you wanted? Would you blame the TV salesman if he talked you into a larger TV? Of course not.

Please become responsible for your own actions.

It's not just Phil Gramm, or Rove, or Abramoff, or whoever. Our whole Republican Party is infected with greed and corruption. Look at this latest scandal.

Did McCain's Chief Foreign Policy Advisor sell us out? Seems like he was in the middle of the money for absolution scandal that the UK Times Online discovered.

"In a further link, Randy Scheunemann, chief foreign policy and national security adviser to John McCain, the Republican presidential candidate, was listed in the WSE brochure as part of its executive team. Scheunemann and Associates, his lobbying firm, is reported as having represented the Caspian Alliance in 2005.

At the undercover meeting last week, Payne said Scheunemann had been “working with me on my payroll for five of the last eight years”. When confronted over the link to KMG, Payne declined to comment."

http://www.timesonline.co.uk/...

What a surprise, it looks like one of the guys behind one of the worst foreign policies in our history is a sellout. If this guy goes down with Phil Gramm and all the other McCain lobbyist advisors who are dropping like flies, who will be left? McCain himself? They guy who doesn't understand the difference between Sunni and Shia? He'll really steer us right in Iraq. This is looking really really bad for McCain.

Your investigative story on Cleveland's victims of the predatory lending tragedy is the most important and under-reported subject of our times. Your show may be the sole major outlet for this plain truth about the causes for our failing economy. There is however one crucial element missing in this and other reports. As you introduce some of the many victims who have now become homeless, why not complete the circle and identify specific individuals who have reaped the profits. Let us see their ever upward changes in lifestyle as so many suffer. They seem to always be alluded as an anonymous group of bankers, investors, etc. We need to see them with their bigger yachts amd more expensive Ferraris or whatever other garbage on which they waste all of those criminally reaped windfalls. They are the real disease destroying this nation.

Hi there, have you guys checked out Ralph Nader; at least he can raise a little hell. We seriouly need to get him into the presidential debates. The other two are just puppets of corporations and jews. We also need to change the election process if there is still any hope for the so called democray of ours.

the Wm Greider bit gave me impetus to "dig" further for which I am most grateful.
I just went as far as to read all the comments you received.... this was a great dissapointment.There was only one comment (jeff July 18, 2008 20:20pm) with which I could say 'amen". My 'dream" is to find person & plaes with whom I can join voices.

We need term limits in Washington,but the bums will never propose it themselves.As citizens,we need to somehow get term limits on a referendum,but how?
I think many of us would attend demostrations if someone would step up and organize them.Most of us regular folk haven't got a clue how to do that.Maybe Mr. Greider could be our new leader...come on,Bill!

It is interesting to read such complaining opinions.
What has become clear is that Capitalism Does Not Work any more at all. Evil business people, corrupt politicians, moaning intellectuals, and etc.
All are just symptoms of a much deeper and fundamental problem.

There is no next time. We have to start anew.
First all the culprits have to be eliminated.

Pick Up The Gun...

Whining only prolongs the pain and suffering... The JM post below calling for ORGANIZING is the right direction! Individually we may effect little, but collectively by ourselves with true leaders, not the politicians, we can change this nation for the better for us, and our children...

Today even this very Wall Street Journal article is asking: "Why people are not outraged?" given that everything going down the drain now for the great majority of Americans.

http://online.wsj.com/article/SB121642367125066615.html?mod=myyahoo_module<