By ENGR101.com Staff
Published January 24, 2012
Three questions to ask every candidate for high public office in 2012 are (1) “Are you a NAFTA advocate?” (2) “Will you work to abolish NAFTA? and (3) “Will you work to audit and then abolish the Federal Reserve?”
Millions of people are being foreclosed out of their homes. Many are simply walking away from the debt. And who can blame them? As foreclosure of homes began, bankers holding the loans had to ask themselves “what if the underlying value of the collateral on those homes is zero?”
Why are so many Florida homes worthless? Why should so many houses be abandoned and demolished? The reason is that by using NAFTA protections, China was able to sell tons of dangerous drywall to American homebuilders who used it for the walls and ceilings of tens of thousands of homes throughout Florida and elsewhere. Trying to replace the defective material costs more than the house is worth.
Probably everyone has heard about, or been adversely impacted by, the bursting of the US housing bubble, the economic collapse, the loss of jobs; and the resulting financial trauma inflicted on the nation’s economy as a result of the subprime mortgage loans that were packaged and sold through Wall Street brokerage firms and investment banks.
It was those bad loans that resulted in the Federal Reserve and President Barack Obama working together to bail out the financial elites, the New York banks, the international banks and AIG to the tune of trillions of dollars. (For the brief documented history on how Pres. Obama, Sen. Harry Reid, Rep. Nancy Pelosi and others were involved in those illegalities, read Chapter 13 of the new book “Ron Paul is Right: Rick Perry is No Conservative.” )
Why shouldn’t the gamblers who bought and sold those loans be made to pay instead of the taxpayers? After all, a gambling contract is legally unenforceable in most states. For that matter, why shouldn’t the Federal Reserve, which is a private bank with vast sums of money and resources it confiscates worldwide, be required to
A group of homeowners converged at the State Capitol asking for change that would better protect them from builder defects. After a large retaining wall collapsed, several homeowners found their houses were sitting on unstable soil. Due to binding arbitration in their contracts, the remedies and avenues for appeal are severely limited.