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2007-11-20 Oral Communications SubmittalsQUERY: MOM PREVIOUS FIRST LAST DISPLAY NEXT RECORD IN QUERY SUMMONS 476782 AGENCY STATUS OUTSTANDING —D ELI ISSUE DATE 11/29/2006 PLATE NUMBER 1LH3641 VEHICLE ID NUMBER 3T2RA64L4E0057491 MAKE TO MODEL 2DR COLOR GRY METER NUMBER BADGE NO VIOLATION CODE 0131 E L I Ns NOTIC ISSUE TIME 10 :05 STATE C. EP DETAIL HISTORY XPRINT .. . CITY OF' ALAMEDA STATUS DATE 440 HOGAN 08 VIO LOCATION 2400 SHORELINE DR AMC-8-7.1 — LIMITED AND /OR NO PARKING ANYTIME 10 05 200 PLATE TYPE MIMI E DUE TYPE MIMI YEAR BALANCE DUE OWNER ADDR2 NUMBER CITY NOTES YAROS LAV 48.0 OWNER SRC ,r RYS H I N 2445 III IIISHORELINE DR APT 213 ALAMEDA C PARKING PROHIBITED CERTAIN HOURS VALID #438 ST L ZIP ARE ALL ENTRIES CORRECT? Lc 5 v_ 3,,ctte a lz�� �22,�J -ter 1.‘o,49A,00 9450 84 Submitted by Musiy Rishin under Oral Communications at the 11-20-07 Council Meeting www,larouchepac.corn The Homeowners and Bank Protection Act of 2007 Save the Homeowners, and the Banks! The LaRouche Political Action Committee (LPAC) announced a mass mobilization on Aug. 22, to get Congress, on return from recess after Labor Day, to enact the Homeowners and Bank Protection Act of 2007. This legisla- tion, crafted by Lyndon LaRouche, is the only means, at this late date, for stopping millions of home foreclosures and evic- tions this year and next, and for launching a larger process of bankruptcy restructuring of the U.S. and global dollar -based financial system, which is now already doomed. Governors and state legislators all across the United States will enthusi- astically join in this effort, which some leading bankers and Democratic Party figures, briefed on LaRouche's proposal, have already declared is "doable "_ and the "only salvation" for the American people. Here are the essential features of the Homeowners and Bank Protection Act of 2007: 1. Congress must establish a Federal agency to place the Federal and state chartered banks under protection, freezing all existing home mortgages for a period of however many months or years are required to adjust the values to fair prices; restructure existing mortgages at appropriate interest rates; and write off all of the cancerous speculative debt obli- gations of mortgage - backed securities, derivatives, and other forms of Ponzi schemes that have brought the banking sys- tem to the present point of bankruptcy. 2. During this transitional period, all foreclosures shall be frozen, allowing American families to retain their homes. Monthly payments, the effective equivalent of rental pay- ments, shall be made to designated banks, which can then use the funds as collateral for normal lending practices, thus recapitalizing the banking system. Ultimately, these afford- able monthly payments will be factored into new mortgages, reflecting the deflation of the housing bubble, and the estab- lishment o f appropriate property valuations, and reduced fixed mortgage interest rates. It is to be expected that this process of shakeout of the housing market will take several years to achieve. In this interim period, no homeowner shall be evicted from his or her property, and the Federal and state chartered banks shall be protected, so they can resume their traditional functions, serving local communities, and facili- tating credit for investment in productive industries, agricul- ture, infrastructure, etc. 3. State governors shall assume the administrative respon- sibilities for implementing the program, including the "rental" assessments to designated banks, under the authority of the Federal government, which will provide the necessary credits and guarantees to assure the successful transition. By September - October, unless this legislation is enacted as a first order of business of the 110th Congress in September, many millions of Americans will be evicted from their homes, setting off a process of social chaos that must be avoided. The freezing of foreclosures is the vital first step in a thorough reorganization. Under this plan, the Federal Reserve System will, itself, be put through bankruptcy reorganization, and transformed into a Third National Bank of the United States. As developed in LaRouche's just - released draft platform for the Democratic Party, these actions shall be complemented by the creation, by treaty agreement among leading nation- states, of a new Bretton Woods system, based on fixed exchange rates, and long -term treaty agreements for large -scale development projects on a global scale. The foreclosure tsunami is occurring, not as a result of a mere housing or mortgage crisis, but a disintegration of the entire global .financial system. There is no bottom to this col- lapse-- unless a legislative firewall is created now, and a halt to the income drain on the population, brought on by the hyper- inflationary debt bubbles created by Alan Greenspan and his ilk. Once again, at a crucial inflection point, Lyndon LaRouche has provided the solution which will uniquely remove the nation from the pathway to disaster. Now the question is, will the leaders among the American population stand up and lead the fight to win a human future for our nation, and civilization itself? Submitted by Jason Ross under Oral Communications at the 11-20-07 Council Meeting I. II. - Economic Recovery Act National Infrastructure Bank New Public Corporation for Essential Construction Energy plants Bridges, highways Railroads Dams & reservoirs Congressional Legislative Initiatives Schools & hospitals roductive Industries in the Private Sector Machine tools Construction Forestry Farms Other infrastructure Auto Other productive industry Millions of new jobs created Millions of new jobs created A Table of Organization for U.S. Economic Recovery A top -down approach is required to provide credit on the scale needed to repair the decayed U.S. infrastructure, and to create the expansion of the physical economic base in the process. I. National Infrastructure Bank At the top of the entire effort must be a Federal credit mechanism, shown on the schematic here as the National Infrastructure Bank. This facility can be established under the powers of Congress, authorizing it to create debt for the sole purpose of funding approved infrastructure projects- -the direct costs, the inputs, and all functions related to accom- plishing the job. Thus it operates as a capital source, outside the demands and constraints of the Federal operating budg- et. Loans can be made at the rate of 1 -2% interest, and the appropriate long -term conditions will apply. There are many precedents for this kind of long -term, low - interest credit function, on the part of the Federal govern- ment. During the FDR years,. a massive amount of hard infra- structure-- bridges, schools, water systems, and the like- -was built this way, many of which facilities we still use today. 11. Economic Recovery Act On the next tier, comes the function of directing the effort and funding for restoring the industrial and infrastructure - building capacity of the nation. As originally laid out, the Economic Recovery Act of 2006 focussed on stopping the take- down of the auto /machine -tool sector, by creatipg a Federal public corporation to assume control of, and operate -- directly, or by contract - -the discarded and unused plant- and - equipment capacity of the automobile /auto- supply sector. The entity was called the Federal Infrastructure Plants Corporation, and would also utilize unused facilities in other sectors such as mil- itary bases, shipyards, fabricating plants, and so on. In turn., this capacity could be retooled to produce, along with remaining corporate manufacturing, the array of components necessary to refurbish decaying infrastructure. Among the pre- cedents, is the famous period of World War II, when auto plants were converted to tank, truck, and aircraft assembly lines. The second tier of the Economic Recovery diagram illus- trates that if the programs for upgrading energy transmission and generation, especially nuclear power, bridges, highways, and railroads were built, along with waterworks, and so- called soft infrastructure, including schools and hospitals, there would be a generation of millions of new jobs, on the projects and in manufacturing industries. 111. Legislative Initiatives The third tier of this recovery picture involves carrying out the various Federal, state, and local projects qualified as part of the recovery effort. The schematic illustrates the combined effect this infrastructure drive will have on reviving various productive sectors. LaRouche PAC On the Internet: WWW.larouchepac.com Washington, D.C. 202 - 393 -1470 Boston, MA 617- 350 -0040 Chicago, IL 773 -404 -4848 Detroit, MI 248 -232 -6981 Hackensack, NJ 201 - 441 -4888 Northern Virginia 703 - 779 -2150 Baltimore, MD 410 -747 -3817 call toll-free: 1-800-929-7566 Houston, TX 713- 541 -2907 Los Angeles, CA 323 -259 -1860 Norfolk, VA 757- 587 -3885 Oakland, CA 510- 379 -5115 Philadelphia, PA 610- 734 -7080 Seattle, WA 206 - 417 -2363 Paid for by the Lyndon LaRouche PAC, P C. Box 6157, Leesburg, VA 20178. www.Iarouchepac.com and Not Authorized by Any Candidate or Candidate's Committee LLPPR- 2007 -9 Petition to Congress: Implement the Homeowner and Bank Protection Act of 2007 I LaRo... Page 1 of 2 Home > U.S. News > Politics Petition to Congress: Implement the Homeowner and Bank Protection Act of 2007 NOTE: The current list of signers can now be found here. September 18, 2007 (LPAC)—The following petition from the Lyndon LaRouche Political Action Committee (LPAC) is being circulated across the United States by, and to, state and local elected officials, and to labor movement leaders, and other elected leaders, for presentation to the U.S. Congress. Emergency enactment of this bill is needed to erect a "firewall" to protect the life savings of American citizens, and to ensure that the hedge funds receive not one penny of bailout from the U.S. or any other government. Currently, we are soliciting signatures and endorsements for this petition, from elected officials, labor leaders, and constituency group leaders, only. If you would like to endorse this petition, please send an email to, I pa cpetiti o n @ g m a i l . co m, include your full name and your organization (for identification purposes only.) The onrushing financial crisis engulfing home mortgages, debt instruments of all types, and the banking system of the United States, threatens to set off an economic depression worse than the 1930s. Millions of American citizens are threatened with foreclosure and Toss of their homes over the upcoming months, according to studies released by RealtyTrac and Moody's Economy.com. The hedge funds which spread this financial collapse among markets worldwide, by dominating speculation in all those markets, are now going bankrupt and demanding government bailout of their securities and derivatives. The nominal value of the derivatives based on mortgages alone is the size of the combined GDP of the nations of the world. The hedge funds, the mortgage - backed securities, the financial derivatives {can not} be bailed out. This financial crisis is now threatening the integrity of both state and Federally chartered banks, as typified by the run on deposits of Northern Rock mortgage bank in Britain in September and Countrywide Financial in California during the month of August; and such a banking collapse would wipe out the life savings of American citizens, and drastically undermine the economic stability of our states and cities. In a similar financial crisis in the 1930s, President Franklin D. Roosevelt intervened to protect banks and homeowners; for example in April 1933, he introduced legislation as a "declaration of national policy ... that the broad interests of the Nation require that special safeguards should be thrown around home ownership as a guarantee of social and economic stability..." One month earlier, his Bank Holiday reorganized the nation's failing banks under Federal protection. The principles of the Homeowners and Bank Protection Act of 2007, proposed by economist Lyndon H. LaRouche, Jr., meet this crisis. It requires emergency action that only the United States Congress has the capability to enact. This act includes the following provisions: 1. Congress must establish a Federal agency to place the Federal and state chartered banks under protection, freezing all existing home mortgages for a period of however many months or years are required to adjust the values to fair prices, and restructure existing mortgages at appropriate interest rates. Further, this action would also write off all of the speculative debt obligations of mortgage- backed securities, http : / /www.larouchepac.cominews /2007 /09/18 /petition- congress - implement- homeowners... 1 V20/2007 Petition to Congress: Implement the Homeowner and Bank Protection Act of 20071 LaRo... Page 2 of 2 derivatives, and other forms of Ponzi Schemes that have brought the banking system to the point of bankruptcy. 2. During the transitional period, all foreclosures shall be frozen, allowing American families to retain their homes. Monthly payments, the equivalent of rental payments, shall be made to designated banks, which can use the funds as collateral for normal lending practices, thus recapitalizing the banking systems. These affordable monthly payments will be factored into new mortgages, reflecting the deflating of the housing bubble, and the establishment of appropriate property valuations, and reduced fixed mortgage interest rates. This shakeout will take several years to achieve. In the interim period no homeowner shall be evicted from his or her property, and the Federal and state chartered banks shall be protected, so they can resume their traditional functions, serving local communities, and facilitating credit for investment in productive industries, agriculture, infrastructure, etc. 3. State governors shall assume the administrative responsibilities for implementing the program, including the "rental" assessments to designated banks, with the Federal government providing the necessary credits and guarantees to assure the successful transition. I urge the Congress of the United States to pass legislation embodying these three principles immediately, as emergency legislation, halting a "tsunami" of foreclosures, keeping millions of American families in their homes to avert social chaos, and protecting chartered lending banks of the United States and the states. http:llwww.larouchepac. cominews /2007 /09/ 18 /petition- congress - implement- homeowners... 11/20/2007