creative commons/flickr/ by nayrb

As we see low interest loans and bailouts for banking and finance, we get empty words from the Paulsen/Bernanke road show. Don’t lose hope, we know what we need:

1. A moratorium on foreclosures.
2. Regulation to stop speculation in the in the oil futures markets.

Read the Sunday NY Times article about Fannie Mae and Freddie Mac, the influence they wield with Wall Street, how entrenched they are in our political machinery whose denizens continue to give them every thing they need. Freddie and Fannie own or guarantee half of our $12 trillion in mortgage debt, and now they’ve got us in big trouble.

I watched a seemingly tranquilized Jim Cramer trying to calm the markets; I couldn’t bear watching his American Dream special – mad money indeed.

An important letter went out from the Chief Executives of the major airlines to their frequent fliers about the impact of this outrageous oil speculation. A barrel of oil can be sold as many as 20 times prior to being taken for delivery. There may be $60 in the current cost of a barrel of oil due to nothing more than speculation.

Go to my website www.MarcSussman.com, we’ll be putting up the letter. If you want action, you have to take action. The airlines are asking for your help. They’re fighting for their lives, and so are we. It’s MarcSussman.com; help stop oil speculation – It’s an action you can take.