US

Could Stephen Lerner’s Mortgage Strike Plan to Bring Down US Economy Actually Work? (With Bonus Stossel Clip!)

About a week ago, big labor radical Stephen Lerner called upon ordinary Americans to default, en masse, on their loans: “If we organized homeowners in mass to do a mortgage strike….it would literally cause a new financial crisis for the banks.” What he then advocated was a campaign of deliberate loan default that he hopes will bring the banks to the “edge of insolvency.”

His ideas, first revealed here on The Blaze, may seem far-fetched to some, but there is in fact an entire movement devoted to helping Americans do precisely what Lerner advocates: default strategically on their loans–and specifically, their troubled mortgages. The strategic default movement, which has been building up since the housing bubble burst, causing the market to crash in 2008, may not be motivated by Lerner’s big labor politics, but it could nonetheless have economic consequences that Lerner would welcome.

“There are actually extraordinary things we could do right now to start to destabilize the folks that are in power and start to rebuild a movement,” Lerner said last week.

Could Stephen Lerner’s Mortgage Strike Plan to Bring Down US Economy Actually Work? (With Bonus Stossel Clip!)

Strategic default involves a borrower, or homeowner in this case, deciding to cease payments on his mortgage, even though he may be able to afford the payments. For whatever reason, the homeowner decides that his home has become a bad investment, and he wants to rid himself of the investment. A foreclosure process then ensues which can last anywhere from months to years. During this time, the homeowner is no longer obligated to pay the monthly mortgage payment, but can continue residing in the foreclosed property.

According to a December 2010 survey by Harris Interactive, nearly half of all Americans, 48%, said they would consider defaulting on their home loans if they owed more money than their houses are worth. That number was up 7% from a survey conducted six months earlier, which showed that 41% of Americans would consider walking away from their mortgages.

“It’s a good business decision,” Lerner said.

This is also the view of businessman Jon Maddux, the CEO of YouWalkAway.com, a California-based company that helps homeowners walk away from their mortgages. In a blog post, Maddux explains that “Strategic default is when a homeowner takes decisive action to stop the bleeding in a bad investment. It’s what smart investors do all the time when they are faced with losing money.”

The company’s website asks: “What if you could live payment free for up to 8 months or more and walk away without owing a penny?”

A sign of the times: YouWalkAway.com’s 5000-person strong clientele has been growing in recent months. According to a Wall Street Journal report, Maddux says that the company serves between 200-250 clients a month. That’s an 8% spike from 2010, and 50% spike since 2009. After circling through Maddux’s offices, clients shed an average of $250,000 in debt. Maddux says that a high proportion of his clientele–about a quarter–are high net-worth, and high profile individuals.

Here’s a screen shot of the website:

Could Stephen Lerner’s Mortgage Strike Plan to Bring Down US Economy Actually Work? (With Bonus Stossel Clip!)

“We have our share of celebrities and professional athletes with million-dollar-plus homes that can’t fathom keeping this underwater home,” according to Maddux.

On Fox News tonight at 10pm ET, John Stossel will interview YouWalkAway.com’s founder, Chad Ruyle, about the ethical questions surrounding strategic default: is it true, as Ruyle says in the clip below, that homeowners do not have a moral obligation to pay their mortgage?

Maddux tells me that strategic defaults are “not doing anything illegal and it‘s not doing anything that someone hasn’t already agreed to.” In other words, when banks issued the mortgage paperwork, they assumed the risk of default.

Maddux explains another wrinkle in the situation: many homeowners opt to strategically default as a way to renegotiate their loans. When these homeowners call the bank, hoping to renegotiate, often the “lender won’t talk to them unless their delinquent…giving people no option, except default.”

Henry Blodget, the editor of the news site Business Insider, tells me that “If banks won’t negotiate, then the homeowners should feel okay about walking away.”

Apart from the moral issues surrounding strategic default, there are also the economic ones. What would happen if the defaults doubled, as Lerner wanted them to: would the banks in fact become insolvent? Would instability rein in the U.S. economy?

Blodget, who has a background in corporate finance, thinks it’s “hard to say.”

“If millions of homeowners suddenly ‘strategically defaulted,’” Blodget explains, “the banks would be forced to immediately take huge write-downs on their mortgages.”

But “it’s very much bank-by-bank.” Depending on the bank’s capital cushion, mass defaults could “force some banks to raise additional capital to cover the losses. So it seems reasonable to suggest that mass strategic defaults might put some banks on the brink of insolvency.” Over at Business Insider, Blodget did analysis of The Blaze’s exclusive Lerner audio.

Maddux, who has also heard most of the Lerner audio, tells me frankly that if defaults double, “it would definitely be detrimental to our economy.”

“If everybody walked away [from their mortgages], it would be really bad.“ There would be ”chaos and a mess–economically and for the housing market,” Maddux tells me.

And that’s precisely what Lerner wants.

According to a report from last month, delinquent mortgages–those in default–and mortgages in the foreclosure process account for about 13% of all home loans. While the rate of default (8.22%) hit a two year low, the number of foreclosures making their way through the system is at a record high of 4.63%. Despite these mixed signals, economists are hopeful that these numbers are a sign that the market is in tepid recovery. Let‘s hope the economists’ optimism is well-founded, and that the market continues it’s upward slump, without the likes of Stephen Lerner interfering.

Comments (126)

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  • NotaLemming
    Posted on March 25, 2011 at 7:20pm

    whats scary is that America has enough idiots to do this.

    Report Post » NotaLemming  
  • EP46
    Posted on March 25, 2011 at 7:20pm

    Here is some interesting info on home mortgages.
    In 2001 Freddie Mac started making “Islamic Home Mortgages” then other banks jumped on board.
    In an “Islamic Home Mortgage” the bank or lending institution BUYS the home and sells it to a Muslim with NO INTEREST. It is against sharia law to have debt or pay interest, so Freddie Mack and the ‘banks’ were the ‘debtor’ and the muslim buyers were ‘co-owners’ or other ways around owing a mortgage. They paid little or no down payment —got interest free loans—and got 3 times as long to pay for the house.
    Look this stuff up. No wonder the housing crisis cost us everything and Freddie and Fanny walked away with millions.

    Are these Muslim home owners among the ones who will NOT PAY THEIR MORTGAGE?
    or what ever it is called by the banking institutions the use sharia law?

    There is a lot to read about this…check it out…all across the U.S. banks selling homes ‘under sharia law’ and now the tax payers must pay for all this loss? We need more info on this. It has been going on for years. Now it is time to pay up, and it will be us who pay.

    Report Post »  
  • eyestoseeearstohear
    Posted on March 25, 2011 at 7:12pm

    If YOU try this crap – YOU will be HOMELESS WITHIN 30-60 DAYS, if NOT SOONER!

    It’s GOING to backfire…ONE WAY OR ANOTHER.

    PLUS…this will only AID Obama’s overall plan in COLLASPING THE SYSTEM.
    A VERY BAD IDEA -

    I think with this idea floating around – and if you are having problems with your Mortgage-
    CALL YOUR MORTGAGE COMPANY – AND WORK SOMETHING OUT!
    They’d probably be more than glad to work with you – RATHER THAN THIS ALTERNATIVE.

    IF you walk away from your Mortgage – IT AFFECTS EVERYONE.
    And, no doubt – EVERYONE IS STRUGGLING TO HOLD ON NOW.

    Good Luck – Let us ALL pray and help each other.

    Report Post »  
    • Ghandi was a Republican
      Posted on March 26, 2011 at 2:03am

      You might be missing the point.
      These people want a civil war. They do nor care who gets hurt any more than they care about those that may get harmed by hooking up with the Muslim brotherhood int he middle east.
      These are people who are so narcissistic and self-centered they cannot, and will never accept that their dis-proven concept of a Socialist Utopia does not work.. They are in the throws of denial. They will do anything to quiet the endless incessant pounding drumbeat in their heads (communism failed,, communism failed). except pay their own taxes that is…

      Report Post » Ghandi was a Republican  
  • caprica
    Posted on March 25, 2011 at 7:12pm

    what lerner and obama want is to convert AMERICA into Cuba ! total control and power over us ! just like Casto ……..or Soviet Union ! this is the change and hope ! we are looking at pre- hitler times !
    it took HITLER 10 year to get his power ……giving people all they want for free. once he got a power he start killing ! first the mental sick then the rest …you know the story !
    AMERICA BE CARFUL ! THESE MANIACS ARE NOT DIFFERENT THEN MAO OR hitler !

    Report Post »  
  • justice
    Posted on March 25, 2011 at 7:10pm

    If everyone tanks on their mortgages, then their jobs will be next. There are steps of consicious that come along with this wicked idiot game. If the banks do prevail your ass’s are homeless on the streets, with no where to go. So, what will your next move be. Better think long and hard on your life decisions.

    Report Post »  
  • pennswoods
    Posted on March 25, 2011 at 7:01pm

    Glenn. Please show photos on your web site of the homes, condo’s and vacation homes that these phoney “revolutionairies” so that we can see how they live. I want their bourgeoisie lifestyles exsposed for all of us to see and comment on. C0me the “revolutuion” I hope frauds like Stephen Lerner and Michael Moore and their ilk are prepared to live in a 1 1/2 bath 3 bedroom home that the rest of us live in if we are lucky. I‘d like to know if these clowns have enough room in their large homes to accomodate several family’s of illegal aliens or single moms and their kids from the inner city. I want to see them volunteer their wealth and homes for “redistribution” before any of the rest of are forced to give up what we have worked hard for. Thank you.

    Report Post »  
    • ramburner
      Posted on March 25, 2011 at 7:35pm

      I agree. I wan these radicals exposed so the public knows just how the wealthy live… Those people who are talking about rise up and cause revolution should be exposed as the real whore mongers and the nation should rise up against them and take their wealth, so us commoners can have an equal part. Isn’t that what they want? For everyone to be equal?

      Report Post »  
  • geonj
    Posted on March 25, 2011 at 6:48pm

    am i wrong in assuming fanny mae and freddy mac are holding the paper on most of these underwater mortgages? is barney frank behind this?

    Report Post » geonj  
    • robx
      Posted on March 25, 2011 at 8:01pm

      I am sure he is behind fanny…..

      just not sure whose.

      Report Post » robx  
  • EqualJustice
    Posted on March 25, 2011 at 6:47pm

    http://connect.freedomworks.org/node/88436 COME ONE, COME ALL! :)

    Report Post » EqualJustice  
  • felina g
    Posted on March 25, 2011 at 6:45pm

    GE paid ZERO taxes !!!!!!!!!!!

    The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States.

    Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion.

    Report Post »  
    • robx
      Posted on March 25, 2011 at 7:14pm

      All corporations pay ZERO Taxes!!!!! You pay their taxes. When will people realize that. It does not matter how much you tax a corporation the money comes from their customers. If their costs go up, their prices go up. And you pay more to pay their higher taxes.

      I often wonder if we could snooker lefties into agreeing to eliminate personal income tax and replace it with higher corporate income taxes. Something tells me they would jump at the chance to stick it to the corporations….only to discover that they have actually agreed to a highly regressive (albeit exceedingly fair) flat tax. Lol

      Report Post » robx  
  • leonardofmainstreet
    Posted on March 25, 2011 at 6:43pm

    Let me see, at 40 years old, I have been saving all my life to buy my first new home (i figured a 15 yr loan with 20% down)…but wait, I could have purchased a home 10 or 15 years ago…and now defaulted? I want to do the responsible thing, but big daddy gov. is busy raising my taxes and deflating my dollar so that I have to pay for numb-skulls who wanted to take vacations leaned against their McMansions? People who should have been renting but thought a home was an “investment”? Oh brother…bring back debtors prisons, I would love to work as a guard in one of them..

    Report Post »  
  • Psychosis
    Posted on March 25, 2011 at 6:34pm

    actually not a bad idea, just the wrong target and goal

    now, if we can direct his effort towards government, we would be on to something !!!!!!

    and here, is how you can legally make a point to uncle sam

    step 1. change your w-2 tax form and the amount of dependents you currently claim by a factor of 10

    step 2. set up a interest earning savings account, and personally deduct from your paycheck the amount usually removed by the fed, and put it into the account to earn interest

    step 3. when it is time to do your taxes, only claim qualifying dependents, and pay your taxes

    effect………….uncle sam is forced to wait until you pay your taxes, which is by law April 15th. and in so doing, does not make interest on your money, which they end up giving back to you without that interest, but it allows you to make interest on your money, and only pay the tax you owe

    so, instead of the citizens getting a notice like we did in feb. of the largest deficit in one month in our nations history, the government gets a notice of insufficient funds when they go tap that mac card !!!!!!!

    AND IT IS COMPLETELY LEGAL, WITH THE SIDE EFFECT OF FORCING THE IDIOTS IN WASHINGTON TO HAVE THAT CONVERSATION THEY HAVE BEEN PUTTING OFF…………

    …………..WHO ACTUALLY IS WORKING FOR WHO!!!!!!!!!!!!!!!!!!!!!!!

    Report Post » Psychosis  
  • EqualJustice
    Posted on March 25, 2011 at 6:32pm

    SERIOUS QUESTION… if insurance companies and others STOPPED taking CC’s as a form of payment, wouldn’t that ADD to the collaspe of the banks a lot sooner? Anthem/Blue Cross, the LARGEST insurer in New England, juat sent out a notice that you can no longer pay with CCs. They want to withdraw payments directly from your bank account, so they want the account numbers. They have ALWAYS had a CC form of payment. Is there something wrong with this picture???

    Report Post » EqualJustice  
    • Tnredneck
      Posted on March 25, 2011 at 6:42pm

      Any one that agrees to automatic draft from their checking account is a fool.

      Report Post »  
    • EqualJustice
      Posted on March 25, 2011 at 6:50pm

      I’m NOT agreeing to it. I just think it’s strange after all these years of having the insurance amount placed on my CC, now they will only do auto withdraw from your account OR bill you? Why would they do that for ALL customers?

      Report Post » EqualJustice  
  • Tnredneck
    Posted on March 25, 2011 at 6:27pm

    Then when the banks go under, the government will have to take over the banks and then they will own the property which is the goal.

    Report Post »  
  • Oldphoto678
    Posted on March 25, 2011 at 6:25pm

    I like the idea. If we destroy your system, we destroy you.

    Report Post »  
  • TRONINTHEMORNING
    Posted on March 25, 2011 at 6:17pm

    This country is losing individuals with character at an alarming rate. These libs in power; speak to those with nothing but appetites and illusions of entitlement. Wheat and chaff–easy to be chaff, but someday you blow away.

    Report Post »  
    • vennoye
      Posted on March 25, 2011 at 6:42pm

      Yes, and the wind is already rising! You feel sorry for people, but you can’t save them from themselves!

      Report Post » vennoye  
  • LadyIzShy
    Posted on March 25, 2011 at 6:10pm

    I swear it never occurred to me to think I could walk away from my bills.. I wonder what would happen if I just didnt pay my heat bill. Global warming has cuased it to be too cold so I cant afford it. the greedy power company doesnt need my money..

    Good Lord what are people thinking????

    Report Post » LadyIzShy  
    • tierrah
      Posted on March 26, 2011 at 2:52am

      @Lady: I’ve an idea … why don’t we all buy GE products on credit and walk away from the contract. Doesn’t that make you smile? Made me sigh with the daydreaming of it.

      Report Post » tierrah  
  • sle
    Posted on March 25, 2011 at 6:08pm

    Lerner and the rest of the economic terrorists in this country must be jailed and then put on labor force to clean toilets, fill pot holes, etc! Send them to the sheriff in AZ and let him put them to work! This liberal slim must be stopped!

    Report Post »  
  • trevthomp
    Posted on March 25, 2011 at 6:02pm

    I wonder the possible ethical dilemma’s associated with crashing their servers, hacking their accounts, exposing people on their records and the general “wikileaks” style of sabotage involved with a counterattack…I’m just saying.

    Report Post »  
  • TheAnswerIs42
    Posted on March 25, 2011 at 5:58pm

    This is an absolutely abhorrent, disgusting idea. The fact that a company like that exists, and that its founder believes you have no ethical obligation to repay your debts shows how ethically bankrupt this man is.

    Report Post » TheAnswerIs42  
  • NickDeringer
    Posted on March 25, 2011 at 5:55pm

    Hey, I’m just going to the liquor store and make a “strategic withdraw” from their cash register.

    Report Post » NickDeringer  
  • cheezwhiz
    Posted on March 25, 2011 at 5:53pm

    “If everybody walked away [from their mortgages], it would be really bad.“ There would be ”chaos and a mess–economically and for the housing market,”
    And that’s precisely what Obama wants.

    Report Post » cheezwhiz  
    • Darmok and Jalad at Tanagra
      Posted on March 25, 2011 at 6:23pm

      He just wants everyone to be equal….poor is equal. Homeless is equal, and everyone dependant on the Govt handout is equal.

      But as George Orwell put it, “Some animals are just more equal.”

      Report Post » Darmok and Jalad at Tanagra  
    • SlimnRanger
      Posted on March 25, 2011 at 6:47pm

      So just wondering if all these folks walk away from their homes, farms and ranches,will i be allowed to be a squatter and move into a much larger place?,

      Report Post »  
  • wickedone42
    Posted on March 25, 2011 at 5:52pm

    Well the clip explains it all – “No Moral Obligation to pay…”
    Besides the required contractual obligation, there is a moral obligation to comply with the terms of the agreement one signs.
    That is the main problem of modern society – a complete lack of morals, pride and personal responsibility.

    Report Post »  
    • 8jrts
      Posted on March 25, 2011 at 6:19pm

      wickedone42
      You are so right…”That is the main problem of modern society – a complete lack of morals, pride and personal responsibility.”

      What they don‘t tell you in that clip is you won’t own a home again for a long time, maybe never because your credit is screwed for 20 years or so. You have to pay capital gains on the difference between what the bank sells your house for and what you owed. Little details like that. So I hope these people enjoy the “free” 8 months….they probably have to pay most of the money they save during that time as fee for services from Walk Away. Walking away will cost more in the long run but that is the price for not having any morals, pride or personal responsibility.

      Report Post » 8jrts  
    • SlimnRanger
      Posted on March 25, 2011 at 6:43pm

      @Wiskdone42,yeppers your right but expect it all to get much worse,I so often wonder how much longer God will put up with all the vile sin in this nation

      Report Post »  
    • Cynic-clinic
      Posted on March 25, 2011 at 8:18pm

      The reality is that the major mortgage holders are NOT holding the mortgages at all. Most mortgages initiated by banks have long since been sold to Fannie mae. That’s why Fannie Mae is in financial trouble; A large number of those are already in default. The mortgages that the banks are still holding are the commercial loans and the prime home mortgages and those people don‘t and won’t default because they value their credit rating.

      Walking away from an ‘underwater’ home is not as easy as some people believe. The note that the mortgagor signed says that they promise to pay the indebtedness and if the property doesn’t cover the balance after being sold to the highest bidder, the mortgagor (home owner) is financially responsible for the difference and that means the bank can go after EVERYTHING they own–car, bass boat, 4-wheelers, even their 6-foot long tv set and can even have their paycheck dunned after a proper legal proceeding.

      Report Post »  
    • rukiddinme59
      Posted on March 26, 2011 at 2:22pm

      You are only quoting part of it. No moral obligation to pay IF the bank refuses to negotiate when you are obviously having trouble. Bad things happen to good people you know. If the bank refuses a reasonable offer from you to make good while going through the financial hell that many good people are going through shouldn’t they have a moral obligation as well?

      Report Post »  
  • MeteoricLimbo
    Posted on March 25, 2011 at 5:51pm

    The puzzle pieces around Learner all fit, it would seem the general public is strongly in denial over what the puzzle is revealing. A jackass can only be hidden in a closet for so long.

    Report Post » MeteoricLimbo  
    • ColumbiaGirl
      Posted on March 25, 2011 at 6:43pm

      And are any of these guys that are advocating mortgage defaults in default themselves? I’d bet not and never will be.

      Report Post »  
  • TXPilot
    Posted on March 25, 2011 at 5:49pm

    He wants to “destabilize” all of us…..Actually, what he wants is total economic collapse, civil war and totalitarianism.

    Report Post » TXPilot  
    • RLTW
      Posted on March 25, 2011 at 6:20pm

      At this point I’m ready for whatever happens, but I tend to think a lot of this activity going on within the progressive ranks is designed more to nudge us (WTP) to do something stupid.

      Report Post »  
    • Snowleopard {gallery of cat folks}
      Posted on March 25, 2011 at 6:24pm

      RLTW:

      A ‘nudge’ at us it just might be; yet somehow I feel there is more to the moves of these unions and the econ terrorists than is meeting the eye, it just does not feel right. I have to wonder if the crash we seen in 2008 may just have been the warm up of things to come.

      Report Post » Snowleopard {gallery of cat folks}  
    • RLTW
      Posted on March 25, 2011 at 7:02pm

      @SNOW
      No argument there SNOW, I think either way these people are going to implement whatever plan they have, but I think they’d like us to help trigger it in some way.

      Report Post »  
    • avenger
      Posted on March 25, 2011 at 7:32pm

      ya think…

      Report Post »  
    • maryslittlelamb
      Posted on March 26, 2011 at 2:30am

      For some time I‘ve felt they’ve been throwing things out there to see how we’d react. Kind of testing the water, as it were. So far I think they’re surprised at the pushback. And poor Frances Fox Piven is just beside herself that she can’t get us to riot in the streets like in Greece. Frances, darling, you make a mistake to equate restraint with weakness … or stupidity! You will see, dear Frances, that we are in it to win it!

      Report Post »  
    • Showtime
      Posted on March 26, 2011 at 2:39am

      @maryslittlelamb
      Posted on March 26, 2011 at 2:30am
      For some time I‘ve felt they’ve been throwing things out there to see how we’d react. Kind of testing the water, as it were. So far I think they’re surprised at the pushback. And poor Frances Fox Piven is just beside herself that she can’t get us to riot in the streets like in Greece. Frances, darling, you make a mistake to equate restraint with weakness … or stupidity! You will see, dear Frances, that we are in it to win it!
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
      Right ON!!! The whole kit‘n’kabootle, including the White House!

      Report Post » Showtime  
  • Darmok and Jalad at Tanagra
    Posted on March 25, 2011 at 5:49pm

    That’s it, I am not going to not pay my mortgage this month. Yaah, I am a rebel without a home. They call that Homeless. Maybe he can urge people to go to stores and not pay for food, then they can just be called theifs instead of revolutionaries.

    Idiots.

    Report Post » Darmok and Jalad at Tanagra  
    • cheezwhiz
      Posted on March 25, 2011 at 6:09pm

      as Ruyle says in the clip below, that homeowners do not have a moral obligation to pay their mortgage
      —————–
      Do the lenders have a moral obligation to evict the defaulters ?

      Report Post » cheezwhiz  
    • cheezwhiz
      Posted on March 25, 2011 at 6:11pm

      Hey China holds a lot of our debt, can we stop paying them ?

      Report Post » cheezwhiz  
    • Snowleopard {gallery of cat folks}
      Posted on March 25, 2011 at 6:18pm

      It still amazes me just how far these economic terrorists are willing to go; and they seem to know the fact the DOJ will do NOTHING to them one bit. Combined with the smuggling scandal developing of weapons to the drug cartels by the admin, this may be Obama and his cronies waterloo moment of all time.

      If the plans of theirs falls apart rapidly, watch out and prepare for a final ‘scorched earth’ move on their part to try and collapse everything in a hurry; it is when they know nothing is left to lose, they will put it all in play and go for broke.

      Report Post » Snowleopard {gallery of cat folks}  
    • any1but48
      Posted on March 25, 2011 at 6:29pm

      This is the same type of people that do not use birth control, pay child support and own rent to own furniture.

      Report Post » any1but48  
    • felina g
      Posted on March 25, 2011 at 6:36pm

      It isn`t the money….it is the DEBT. DEBT=POWER

      ” [In explaining the "true" nature of banking in the world] The IBBC is a bank. Their objective isn’t to control the conflict, it’s to control the debt that the conflict produces. You see, the real value of a conflict, the true value, is in the debt that it creates. You control the debt, you control everything. You find this upsetting, yes? But this is the very essence of the banking industry, to make us all, whether we be nations or individuals, slaves to debt.

      From “The International”

      Report Post »  
    • LOOKING_BOTH_WAYS
      Posted on March 25, 2011 at 6:39pm

      cheezwhiz
      Posted on March 25, 2011 at 6:11pm

      Hey China holds a lot of our debt, can we stop paying them ?
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
      yes, all we have to do is hangup on them when the Collectors call

      Report Post »  
    • joe conservative
      Posted on March 25, 2011 at 6:48pm

      It won’t work if we all stand up against these loons. Like Glenn says, we have to be true to our moral values. This video puts the whole thing in context. http://www.youtube.com/watch?v=myECZFA0iHI

      Report Post » joe conservative  
    • Ruler4You
      Posted on March 25, 2011 at 6:50pm

      This “goal” is the exact stated goal of Osama Bin Laden revealed after the 9-11 attack. Now, why is Osama (other than the attacks) considered an enemy of the U.S.A. and NOT this clown?

      There hasn’t been a successful terrorist attack (that government admits to) in this country since then..?

      Report Post » Ruler4You  
    • Showtime
      Posted on March 25, 2011 at 6:58pm

      What are people drinking these days? What’s with the Entitlement Juice?

      Report Post » Showtime  
    • godlovinmom
      Posted on March 25, 2011 at 7:08pm

      since obama has been elected…its been maddening…I don’t know if America can beat all this…economic meltdown…federal reserve ponzi scheme…our president and “mrs. marie antoinet”…soros…muslims brotherhood…wars..“rumors of wars”…earthquakes…God help us!…individual responsibility is what it’s going to take…I for one am glad that we have so many patriotic Americans to help..Glen hit it on the nail today at the end of his show about how the pilgrims basically had nothing but God when they got here and they made a country!…By God‘s will we’ll keep it!…now I have to go start dinner…

      Report Post » godlovinmom  
    • watchmany2k
      Posted on March 25, 2011 at 7:09pm

      Well, if this lerner scorched earth plan is to cause this, then we have two counters that I can see off-hand.
      1) a conservative strategy to deny rental housing to those who have defaulted in this way
      2) a conservative tactical method to change the laws of defaulting, develop a database that can be crosschecked for landlords wishing to avoid assuming risky tennants, and outlawing “helper” organizations from helping those who have assets that could pay the signed for debt.

      If the conservative message is loud and clear that if you default in this way, you will lose ALL your assetts, and have major obsticals in finding and securing decent rental property, along with a credit report that hangs on your for 20 years, it will help diffuse the urge to act irresponsible. Especially considering we could attach a denial of govt assistance for welfare section 8 etc as well for these acts of CHOICE.

      Band together and demand preventative LAW NOW in your state !!

      Report Post » watchmany2k  
    • copper
      Posted on March 25, 2011 at 7:13pm

      Don‘t forget the ’spooky dude’ behind the curtain. How many governments did he bring down/flip? This is an orchestrated domino rally. The Treasury hemorrhage in 2008 was, I believe part of it. The players who brought that about were big stakes players and it HAD to be COORDINATED to have taken place in 2 hours. This is just more of the unfolding…the UNION rampages, the war on the border, Mexico’s Calderon showing up every time Obambo whistles – all a part. There are areas in Mexico where many, many American’s have gone to live quiet peaceful retirements and they are safe and happy (I saw a report on San Carlos on CBN last night). It is the border where all the drama is taking place, because it is USEFUL in panicking those you want scared and desperate. Poke from all sides – get them to stampede…..we will survive only if we turn to and SEEK GOD and find our peace and security in HIM.

      Report Post »  
    • copper
      Posted on March 25, 2011 at 7:24pm

      Another point Rush made is that the Union pension funds are invested in the STOCK MARKET. If that is taken down…won’t their pensions $$ disappear with it down the drain. Union members must be quite brain dead to trust them & to follow them. But most of those who show up to shout and be obnoxious don’t appear too cerebral to me.

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    • avenger
      Posted on March 25, 2011 at 7:24pm

      you bet…..the problem is to get the dummies to participate…..I always said..let 500,000 tax protestors opt out of the system.the system is cooked,no way to enforce it.now people,lets really put this into a sniper scope target perspective.we have these radicals,liberals (mfkrs) islamists,etc..surrounded.they cannot possibly win if the population wakes up ! yes it is true….

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    • M-O-O-N Spells Moon
      Posted on March 25, 2011 at 8:05pm

      I must be an anachronism; I actually believe it is wrong to walk away from a debt. I believe it is wrong to break my word, and that it’s even worse to break a committment made in writing. There are legal options available to homeowners. I can understand those who need to renegotiate and have to be delinquent to get the bank to talk (though WTF is up with that?), but it‘s just wrong to take on a debt like a home and then view it as nothing more than a business deal that you can walk away from when it’s no longer you that’s WINNING.
      I was raised by parents that went through the Great Depression. I learned from them to be self-sufficient whenever possible. I have no problem helping others, but I have a lot of trouble asking for help from anyone else. I am getting sick of listening to this honor-less view of the world! A person’s word should mean something more than “I’ll keep this promise until I have a better offer.”

      Report Post » M-O-O-N Spells Moon  
    • Thatsitivehadenough
      Posted on March 25, 2011 at 8:24pm

      Stop COMMUNIST liberal colleges from contaminating the minds of the future.

      TAKE YOUR KIDS OUT OF LIBERAL COLLEGES NOW.

      Report Post » Thatsitivehadenough  
    • Anti_Spock
      Posted on March 25, 2011 at 8:30pm

      Okay… why hasn’t Holder arrested this guy? Isn’t actively advocating an act of domestic financial terrorism against the law?

      (Silly me… the left has a free pass to crash and burn our society)

      Report Post » Anti_Spock  
    • restorehope
      Posted on March 26, 2011 at 12:54am

      Progressives like this guy have only 1 1/2 more years to get away with treason without being punished. (omg, that is way too long!) Once the nest of progressives/socialists is cleared out of the WH in 2012, they won’t dare publicly promote the collapse of our government without fear of prosecution by a real Department of Justice.

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    • Showtime
      Posted on March 26, 2011 at 2:34am

      @Darmok and Jalad at Tanagra
      Posted on March 25, 2011 at 7:07pm
      Showtime.
      The Juice comes in 40 oz. and has a Bull on the front.
      It gives you hope, but if you drink too much of it, you have to Change your drawers.
      ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~“
      You are an absolute RIOT! Ooops!
      Make that, “You are an absolute bad-to-the-bone comedian!”

      Report Post » Showtime  
    • saneasylum
      Posted on March 26, 2011 at 8:38am

      Time to do some reverse-osmosis on the progressives………..

      Report Post » saneasylum  
    • Boojer56
      Posted on March 26, 2011 at 8:52am

      So if I go to walmart and walk out with out paying I won’t get stopped and arrested?

      Report Post »  
    • JRook
      Posted on March 26, 2011 at 3:31pm

      Hmmm how is this different from the banks and Wall Street firms not paying their debt back in 2007. The rationale put forth by Rush and others that Congress “forced” the banks to lend to everyone is a lie, at best. The banks and Wall Street knew exactly what they were doing and besides a majority of the cheap money was used by suburbanites to refinance their mortgages and the wealthy in real estate speculation. Mortgaged backed securities were used by Wall Street and the Banks to get around mortgage requirements and credit default swaps were used to avoid Insurance regulations. Not sure the inner city person trying to buy a $40,000 home really came up with those vehicles.

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    • JRook
      Posted on March 26, 2011 at 3:36pm

      Really not surprising at all, as ultimately the best vote organized groups have against big money influences and insider politics is how they spend or don’t spend their dollars. Ultimately, the people can decide if they choose how money will be distributed and accumulated. This is one of many ways to change the current system that has concentrated wealth and choked the world economy. Capitalism worked well while the money was moving during this concentration. But now it is not moving through the economy anymore and the engine has to be restarted. The current situation was of course exacerbated by our “friends” on Wall St. who used their inside information and position to make ridiculous amounts of money way beyond the value they add to the economy.

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    • GodandCountry1968
      Posted on March 26, 2011 at 7:58pm

      See what we have done in FL about this coming collapse.

      http://www.youtube.com/watch?v=wybtP7t-Hfg

      http://www.amazon.com/Preparing-Collapse-Surviving-America-ebook/dp/B004SURR9A/ref=sr_1_2?ie=UTF8&m=AG56TWVU5XWC2&s=books&qid=1300805921&sr=8-2

      Report Post » GodandCountry1968  
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