What happens when you have “60,000 foreclosures in one month”?  Tent cities are popping up outside in Los Angeles as people lose their homes in the mortgage crisis. This is truly sad and yet mainstream media in the U.S. is reporting on the hardships of the banking industry not the middle class tragedy created by the Bush’s White House, Greenspan and Bernanke’s policies along with their print and spend economy.

Need more proof we are in trouble? Check this out at Crooks and Liars. Paulson states their on top of the issues relating to the economy.

But this…this administration has been focused on this…I think, very early involved…very early, beginning in August. Working very hard to avoid foreclosures that are preventable, putting in in in place programs that are making a difference, are working. Are they going to to prevent the inevitable correction in housing prices? No, but we’re working hard on that and again, I think we were early with the stimulus package.

I don’t know about you, but I’m not feeling that the stimulus package with the $300, $600 and $1200 dollar pay-outs are going to help people stay in there homes. Bush Co. and the bankers on Wall Street were hand in hand finding more and more ways to fleece the American public.

Where were the federal Reserve regulators for the last two years? Cashing in? Their undoing was they didn’t pay attention to middle American. There have been people screaming we were heading straight for a depression. Ron Paul  and the “Mad Money” man Jim Carmer have been sounding the alarms for months.  The wealthy elite who lost the gamble can have their whine,  Bush and Co. spent all the money for the cheese.