On July 30, the Murdoch Sham Paper WSJ ran an article titled "How to Shake Off the Mortgage Mess." According to CNBC's count, the federal government has already made roughly $1.4 trillion available to refinance mortgage debt since the housing meltdown began. The main idea in this story is that the government should buy up houses and demolish them to reduce physical supply of houses. This article concludes by saying "So far, Washington has put its political capital into trying to refinance salvageable homes for unsalvageable homeowners, when a relevant policy would consist of judiciously buying unsalvageable houses and demolishing them. Fannie and Freddie's strength is housing market software: They could be put to work devising a least-cost, maximum-bang strategy for demolishing unoccupied homes to preserve as much value as possible for the homeowners and mortgage creditors who remain.
Of course, right now their overriding imperative is to avoid recognizing losses rather than rushing toward them -- which is why Fannie and Freddie should be nationalized (and later privatized). One way or the other, taxpayers will end up owning thousands of unwanted houses. It's not too soon to begin limiting our costs."
So Murdoch and his gang want the taxpayers to take on the burden of this mortgage mess, which was created by the leaders of the financial institutions while the latter enjoy their vacations in their private islands. Not only that, but these ethically crooked people want the government to demolish good livable housing and reduce its value to 0.
The question is - when will the U.S. public wise up to what is going on?
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