A few tents cropped up hard by the railroad tracks, pitched by men left with nowhere to go once the emergency winter shelter closed for the summer.
Then others appeared — people who had lost their jobs to the ailing economy, or newcomers who had moved to Reno for work and discovered no one was hiring.
Within weeks, more than 150 people …
The number of homeless families in Massachusetts has surged — a spike that has overwhelmed the state’s shelter capacity and forced it to again place homeless families in motels. Driving the increase is the sour economy, rising energy costs, escalating unemployment and shortage of affordable housing. For the first time, the state is tracking how many families are winding up homeless due to foreclosures.
Sphere: Related ContentFederal Reserve Chairman Ben S. Bernanke may find the next fronts of the financial crisis to be just as chilling as last month’s downfall of Wall Street titans: its spread to corporate America and state and local governments.
Sphere: Related ContentHere’s a safe bet for uncertain times: A lot of banks won’t survive the next year of upheaval despite the U.S. government’s $700 billion rescue plan to restore order to the financial industry.
Sphere: Related ContentOn Friday, though, the House approved a far bigger, broader, and beefier version of the bill–which has ballooned to a remarkable 442 pages. The vote was 263 to 171, with the bulk of the opposition coming from Republicans. Because the Senate already approved the measure, it immediately went to President Bush, who signed it into law.
Sphere: Related ContentHow much bribe money does it take to transfer $700 Billion taxpayer dollars to Wall Street’s elite? How much money did your Represenative get from Big Bankers to look the other way and pass a bill that the American people clearly do not want?
Sphere: Related Content3rd Infantry’s 1st BCT trains for a new dwell-time mission. Helping ‘people at home’ may become a permanent part of the active Army. They may be called upon to help with civil unrest and crowd control.
Sphere: Related ContentWhat has not been reported is that the Bush administration turned these acts of reckless lending into a national program of mortgage fraud. Soon after George W. Bush became president in 2001, meetings at the White House between Federal Reserve Chairman Alan Greenspan and administration officials became more frequent. According to mortgage industry
Sphere: Related ContentOnce again the out-of-touch Senate has signaled the American people that they are firmly owned by the corporate insiders. This bow to their handlers is clear indication that there needs to be a great eviction day in November. First the stock market controllers slap the little man by devaluing stocks of companies that are sound and should have held their value. Next the House, feeling the pressure from constituents and facing reelection in a few weeks, tries to sell spoiled goods but just can’t. Now we have an arrogant Senate that has not only passed a knee-jerk piece of bad legislation but has added hundreds of pages of perks, smoke, and mirrors and another billion dollars. It’s interesting to see the dire - no choice - must act now - rhetoric being shot-gunned out by talking heads and politicians. The bottom line is that certainly this issue will be painful, certainly some people will lose their jobs, certainly some companies will close but the economy will not simply stop. If allowed to correct itself, the outcome will be a more stable economy. If this bailout goes through, it’s the camel’s nose in the tent. There will be no end, the asset value will not be realized by the people as the politicians are saying, and the cost will continue to escalate. Take the hit now or take it for a long time through inflation and continued devaluation of the dollar. The biggest question is why must it be done today? The answer is so that a bad plan can be forced down the throats of the taxpayers before they realize it. Yes, legislation needs to be passed to correct this situation but it should be well thought out and minimal. Every new piece of legislation has unintended consequences. We must proceed with caution and we must not reward those who have brought this about. …seems that many of those individuals are the same one negotiating this fiasco…
Sphere: Related ContentTwo days after the House rejected the $700 billion bailout bill, the Senate is set to vote on the rescue plan for financial institutions.
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