First, the Secondary Market is the financial engine that brought prosperity, hence demand, and then jobs back to the post World War II economy, and there will be no genuine economic peace unless it can be properly revived by the U.S. government backstopping its financial oversights, and instilling trust between its counterparties. That can only be done by the government scaling back the monopoly banks, and helping them to abandon perverse incentives. There are so many potential bank customers in the world today, that no bank, or cartel of banks, no matter how large, can serve a useful function unless it can repeatedly sell off the debt it holds, in the secondary market.
Second, the monopoly banks must be scaled back and the secondary market must be properly revived.
Third, the monopoly banks must be scaled back and the secondary market must be properly revived. Yes, you heard me right, and there are a few other things that can be done to bring it about faster.
Fourth, in order to stop the ongoing vicious cycle of financial deception, enslavement and destruction of people, and countries, the momentum of the snowballing economic collapse has to be stopped dead in its tracks, and this can be done by exercising the doctrine of eminent domain. As you probably know, the concept of eminent domain relates to the action of the state to seize a citizen’s private property, expropriate property, or seize a citizen’s rights in property with due monetary compensation, but without the owner’s consent.
But eminent domain is a tool that can legally be applied to the negotiable instruments collateralizing that private property as well. In short, the government ought to seize all the fraudulently rated securitized notes that are currently in litigation or subject to litigation, and pay the holders of those securities the fair market price they would have otherwise not been able to receive. Then, the government, or a private entity sanctioned by the government, will offer the homeowners whose properties are tied to those obligations, a low and flexible interest rate, a fair mortgage, regardless of the damage that the banks caused to the borrower’s credit scores by trapping them in unsustainable loans. Further, consideration and flexibility will be afforded to all homeowners who wish to retain homeownership and are able to demonstrate the ability to get back into the game of democracy and pitch!
Fifth, lowering taxes by ten percent across the board would ensure an economic recovery that will endure.
Sixth, since the owners of corporations convinced a few justices on the Supreme Court that they have the same rights as people when it comes to donating proportionately huge amounts of cash to their political puppets, they will henceforth have to pay their taxes too, just like the other people… But lowered by ten percent of course.
Seventh, the higher courts can assist the public interest by rendering decisions that encourage the trial courts to be attentive to lender fraud, and the validity of instruments used to transfer or foreclose upon mortgages. It is vital to the future of the California economy that citizens be allowed to make affordable payments and retain homeownership. In the absence of the monopoly banks modifying their ill gotten Payment Shock loans, or curtailing their criminally influenced foreclosure and collection mills, and the legislature’s apparent lack of confidence in their ability to compel them do so, it is up to the individual local courts, the trial courts, the courts of the people, to put a stop to the economic drain, and the destruction of families, on a case by case basis.
And what are the alternatives to these above mentioned measures? Well, pretty much what the private money masters are always asking for after they run everything into the ground, and that is World War III, whether formally declared, or just concealed and escalated from the present global conflict.