We’ve Bailed Out the Banks – Now Let’s Bail Out Americans – Freedom Plaza Occupation, Backbone Campaign & Economic Justice Allies Demand Mortgage Correction NOW!

“People in power know that the real solution to continuing collapse of housing market, stemming human tragedy of foreclosure crisis, and restoring American’s well being is universal principal reduction of American mortgages to real market value. It’s time those with the power find the Backbone to stand up to the Banks and Institutions that hold these mortgages and insist they stop drowning America with false solutions, inaction and greed.” ~ Bill Moyer, Backbone Campaign

WHAT: March from Freedom Plaza to the Federal Housing Finance Administration at 1777 F Street NW #100, Washington, D.C.

WHEN: Departing at 9:30 a.m. Thursday, November 10, 2011. Arriving and holding rally beginning at 10 a.m. IMAGES: A 10-foot colorful foreclosed underwater house will be part of the march and rally.

WHY: 25% of U.S. mortgages are under water and causing unnecessary burden on Americans and the America Fannie Mae and Freddie Mac hold over 50% of U.S. mortgages. The FHFA has the power to force Fannie Mae and Freddie Mac to reduce principal to the actual value of houses. Underwater mortgage debt is one of the primary drags on economic recovery. It continues to devour tens of billions of dollars annually, money that would otherwise go into our economy in the form of consumer spending.

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