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18 March 2007 ANND Communication: HRI Legal Resource and Assistance Center Subject: Communities in Crisis: Pushed Beyond the Economic Limit Dear Colleagues, Thank you for your feedback. The following encompasses some current discussions on the table Bankruptcies (ABI: Statistics): -- 2000: 1,217,628 -- 2001: 1,452,789 -- 2002: 1,537,750 -- 2003: 1,624,677 -- 2004: 1,562,621 -- 2005: 2,039,214 _________________ Total: 9,434,679 Close to 10 million non business bankruptcy filings (2000-2005), approx. 1 out of every 28 U.S. households. This represents the statistical challenges that were under the umbrella of reserve bank and federal regulatory responsibility, leading to a more significant challenge then presented during 1929 transition. In the context of the causative factors associated with the credit card and mortgage loan challenges, it is now evident that bankruptcy reform was a bandaid for a systemic problem that was spiraling out of control. Once again, I would like to return to the reserve bank and federal regulatory responsibility variable (especially with regards to for the current foreclosures challenges - 2007 projected 2.2 million + statistic). It is obvious that senate and congressional assistance is needed to: -- Keep citizens facing foreclosures in their homes (return of those who lost their residence to now empty homes lost by foreclosure): Place responsibility on companies that have facilitated the transaction of a predatory loan (based on newly released guidelines). -- Facilitate readjustment of all loans transacted (re-finance, cash out) to true fair market valuations (companies absorb the hyper-inflated variable). It is important to note that additional systemic economic challenges extended to the cost of healthcare, energy, transportation, food, education, etc., etc., during this same time period. Recent discussions regarding abusive market trading variables (carry trade, forex), encompasses a need for a return to a supply and demand based systemic correction, and elimination of infrastructure related corporate entities from publicly traded markets. Though these issues only touch the surface, regarding the needs on the table during this systemic transition, it is obvious that the reserve banks must take control of the bond market, to preempt a spike in interest rates, that would facilitate a systemic collapse. Looking forward to your feedback. S.M.Apatow Stephen M. Apatow President, Director of Research and Development, Humanitarian University Consortium Center Telephone: (203) 668-0282 Email: s.m.apatow@humanitarian.net Internet: www.humanitarian.net Back to Communities in Crisis: Pushed Beyond the Economic Limit Copyright © 1994-2007 Humanitarian Resource Institute.
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