Response to WBUR Article on the Economy

Hi:

Your show on the financial reform bill left out a key fact.

In President Obama's first press conference, Proesident Obama responded to a question from a reporter about Amereicans overuse of credit with a statement referring to "bonds that paid 30 to 40 times the investment." You can look this up. I can direct to papragraph near the endof the Press Conference, or you can print out a copy of it.

What no one is atatin is that for every dollar invested in Credit Default Swap Bonds, the Bond Hiolder was GUARENTEED a payout of between 30 ans 40 tiems if the sub-prime mortages "backing" these bonds went bad. I put quotes around "backing", because everyone who bought them KNEW that the mortages were going to go bad. They had paid out millions of dollars to mortage originators to created these insured and guarenteed bonds. As President Clinton's remarks over this weekdn, he made it clrear. "1% of the Americans(th richest) created insturments which would impact on %100 of th population.

See; Jant Morrisay, Time Magazine for March 2008.
I have a blog at Progressive Liberal Truths on blogspot.

The address is progresiveliberaltruths.bnlogs.... Sometimes that takes y0u there, abnd somnetimes y0u have ro break the words up.

The bottomline is that for every $100,000 subprime mortgage that goes bad today, a Credi Default Swap Bond holdermakes between $ 4,000,000 and $ 30,000,000. In Moriiseyss' articel in Time, she predicted that 45 Trillion would transfer to the super rich. Experts today predict that th amount will be over 75 Trillion. The only way to ereally sove this problem is to have President Obama declare a claw back of all the Yield Spread Premiums(YSP) paid to mortgage makers, and clawback the payments based on Credit Default Swap Bonds. Without that, a million wealth Americans and American c]orprattions will control more moeny than has ever been held by the ricvh oin the history of the world.

Call me; 401-351-0373
Interview me, and I will convince you that this CDSB scam was put in place by Gramm's Bank bills in 1998-2000. Cluinton thought it would help poor people, and insead, it has made EVERY American poorer. The poor neighboods are going to blow just like thy did in the sixties. Maybe, I should mail or email you my Essay A A White Guy's Primer on Racism in America.