*Freeze Home Foreclosures, Freeze Mortgage Payments, Restructure Debt- A Fighting Program To Save The Working Class In Order To Fight Another Day

Click on the headline to link to an American Left History entry,
FOR A MORATORIUM ON HOME FORECLOSURES- And A Note On The Housing Question From Friedrich Engels, dated Saturday, May 26, 2007, that relates to this commentary.

Markin comment:

It does not take a hard-bitten communist, although that helps, to know that our class, the working class, along with the marginal working poor, and the vast majority of minorities in this country have borne the brunt, the immediate brunt, of the now several year old economic crisis spear-headed by the continuing debilitating housing crisis. What has not happened, although one would have expected the explosion from the left by now, is any push back against those who created this crisis, the capitalists. This Tea party thing doesn’t count, for our side any way, because from all the anecdotal evidence that I have gathered their position on the plight of the working class is –“tough luck.”

Tough luck, however, is not the policy of those of us who want to fight for our communist future. Thus, since the American Bankers Association, an organization chock- filled with villains in the various crises of the past few years, is meeting this week, the week of October 17th, in Boston to further their dastardly plans to wreck havoc on the economy I have a three-point program that those of us on the other side can fight around.

Immediate, Unconditional Freeze On Home Foreclosures. This is a no-brainer, even on technical grounds according to the various recent media reports recently about the snafus in this process.

Freeze Mortgage Payments. Hey, those who are swamped in debt up to their eyeballs need relief from these ballooning mortgage payments that have forced millions to walk away from their homes probably never to have another change, at least under this capitalist system, to own their own homes.

Restructure Debt. One of the key practices that has been exposed for all to see during this crisis is that working people, with nothing but their labor to survive on, have been gouged on ultra-usurious interest rates, penalty rates, and extra add-ons. Enough.

Of course, any self-respecting banker, although that seems oxymoronic here, is going to choke on her or his five-course dinner on reading this program. Oh well, if that is the worst thing that happens to them in their sorry lives they will have gotten off easy. If they, and their finance capitalist-driven system can’t see their way clear to do this then we say move on over and we will take charge and implement the program. For that it does take hard-bitten communists though. Fight For A Workers Party That Fights For A Workers Government!