Rescue Me

Republican Liberty Caucus issues formal statement on bailout plan

“NO Bailout for Failure, NO Rescue from Risk,” says Republican Group

Thousand Oaks, CA – A national caucus of Republican activists has urged GOP legislators to stand firm against the “Paulson Bailout” of a corrupt financial regulatory system. “This proposal is a government takeover of the entire U.S. economy,” says Republican Liberty Caucus Chairman William Westmiller, “whose only purpose is to rescue those who made risky bets on bad mortgages.”
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Paulson says won’t stay at Treasury past January

Reuters – U.S. Treasury Secretary Henry Paulson said in an interview aired on Sunday he had no interest in staying in his post beyond January when a new administration takes office.
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June Foreclosures at 848 – No Relief in Sight

Foreclosure filings numbers continue to surge as the Clerk’s Office works to keep up with the volume. June brought in 848 filings, exceeding the prior post-Apollo record 769 in April. While the economy worsens, many local governments proceed as expected and have begun raising tax rates to keep the Housing Bubble Windfall coming in. The Property Appraiser released a tax roll which, despite waves of foreclosures unseen since 1971, ludicrously continues to reflect property values are NOT in decline. In fact, of the decline calculated much was due to Amendment One, when in reality property prices have dropped well over 30% since the peak of August 2005 and in most cases, more.

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