The Treasury today unveiled the guidelines for its new “Making Home Affordable” loan modification plan, which aims to help seven to nine million.

The Treasury has revealed their plans as promised which address helping responsible home owners with higher loan-to-values refinance and home owners who are.

Making Home Affordable will offer assistance to as many as 7 to 9 million homeowners, making their mortgages more affordable and helping to prevent the foreclosure crisis from collapsing our econmoy.

In the midst of the unfolding global economic crisis politicians, pundits, and bankers have engaged in much hyperbolic discussion about the prospect that major banks in the US may be “nationalized.” On 27 February the US Treasury Department announced that it was converting its “preferred shares” in Citibank into “common shares” giving it a 36 percent ownership in one of the world’s largest financial institutions. This and other actions taken on the part of the Federal Reserve and US Treasury Department since the crisis began to accelerate last Autumn has led hardened neo-liberal ideologues to exclaim that this is “creeping socialism.” The proclamations of many anchors across the business channels, Conservatives gathered in Washington on 28 February, and Republicans in Congress during the debate over the stimulus bill have elevated to the level of mainstream discourse a conversation over the meaning of the terms “nationalization” and “socialism,” even if the purpose of such right-wing defenders of unbridled global capitalism is to induce ideological confusion and a sense of panic.

Ultimately, many analysts believe that the US government will have no choice but to nationalize some of the largest financial firms, including Citibank, Bank of America, and some large regional banks.[4] Nobel Laureate Joseph Stiglitz recently echoed calls from leading economists Nouriel Roubini and Nassim Taleb to nationalize the US banks telling German television network Deutsche Welle “the banks have failed. Nationalization is the only answer.”[5] Stiglitz has much experience at the center of global finance having served as a member of President Clinton’s Council of Economic Advisors (1993-1997) and as Chief Economist and Senior Vice President of the World Bank (1997-2000). During those terms he witnessed the LTCM and East Asia currency crises (1996-1998) that some economists like Paul Krugman warned was a prelude to a global economic depression.[6] What has happened in the meantime is that trillions of dollars have been thrown down the bottomless chute of fundamentally insolvent institutions beyond hope of rescue.Moreover, for all of this public money used to prop up badly run speculative private institutions not once has the government forced the management to resign (the recent move at Citibank showed the first signs of the Treasury making demands about the composition of corporate boards) nor has it called for any “claw back” provisions of the bonuses and extravagant pay for executives who ran their enterprises into the ground. Instead, public wealth is being transferred on a rapidly moving conveyor belt into the hands of unscrupulous and failed bankers. This is becoming one of the greatest thefts in world history. As Stiglitz told Deutche Welle, “separation of ownership from control is a recipe for disaster.”

Socialism refers to a broad set of economic theories of social organization advocating public or state ownership and administration of the means of production and distribution of goods, and a society characterized by equal opportunities for all individuals, with a fair or egalitarian method of compensation.[1][2] Modern socialism originated in the late 19th-century intellectual and working class political movement that criticized the effects of industrialization and private ownership on society. Karl Marx posited that socialism would be achieved via class struggle and a proletarian revolution, and would represent a transitional stage between the capitalist and communist modes of production.

Peter Schiff answers back to his attackers pt 2/3

Peter Schiff Obama stimulus TARP Dollar Collapse Hyper Inflation Gold silver jim rogers gerald celente max keiser marc faber ron paul

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“CBS News RAW:” In his speech before signing the 7 billion economic stimulus plan into law, Pres. Obama stressed the importance of preserving job creation and healthcare.

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Now the truth of Hyperinflation is now revealed to you. Whether you are American or a foreigner. Its about time someone told the truth about why printing money will not work. Again, if you think Obama is going to save you. Good luck. Our problem as a nation is the fact that we spend too much. Bush passed a stimulus plan summer of 08. Remember that check boost you got…yup, that one. Did that help? Hell No. Americans, please, get your head out of your ass. Start doing the math here folks. Stop listening to propaganda.

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