sign of the times

Fannie Mae and Freddie Mac either hold or back $5.3 trillion of mortgage debt. That’s about half the outstanding mortgages in the United States. IndyBank failed. Fannie Mae dropped over 22% on Friday. If either one. or both, of these fail they will take down a LOT of us. Bank failures WERE the cause of the Great Depression, as some of us may remember. The state of Fla forclosure rates are up 92%, compared to last year at this time. Signs of the times. Construction has fallen off a cliff. Unemployment is way up. And somehow, our illustrious City officials have missed ALL of these signals? WHAT will it take to have them realize that we ARE in a recession AND it will probably get WORSE before it gets better? Are we going to allow Moe, Larry, and Curly to drive us over a financial cliff too? Its a colossal case of NO economic awareness, common sense, vision, or responsibility. These guys MUST be bought and paid for, as no other explanation makes ANY rational sense! NONE! Normally the Three Stooges are funny in their clueless buffoonery, but the ineptitude of THESE guys is painful to watch, as in painful to watch a LOT of OUR money disappear from OUR wallets, AGAIN, even after several blaring and obvious warnings. There is nothing funny about being mugged, especially if you know it is avoidable by using some common sense. Common sense is not so common with OUR clowns, it appears, having gone AWOL 2 or 3 years ago, at least, and giving no hint of any possible imminent return this decade. Remember this.