Housing Bust & Window Strike - 011

WAZIRISIDE STORY: Till They Framed Rod Blagojevich - Scene 11: "Housing Bust & Window Strike"

Housing Bust:
"(Fuzz/Static) In California, where developers have been racing to turn farmers' fields into subdivisions, they're now walking away leaving houses partially built. We couldn't sell a moving target. That moving target collapsing house prices has already cut $1.2 trillion from the value of American homes. I feel like my parents grave is been robbed. You put all this money into this. Right. If you ever want to get it out it is gonna be tough. (Fuzz/Static) More evidence today that home prices are continuing there downward trend. The S&P Case-Shiller home price index shows a record decline over the last year. (Fuzz/Static) How bad could it get? Standard and Poor's expects home prices will hit bottom next spring. (Fuzz/Static) There's just tiles like sitting on the roof and things that could just probably fly off. (Fuzz/Static) Most dramatic financial issue we've had in this country since the bombing. 9-11, 9-11, 9-11.

Republic Windows and Doors Sit-In:

"Call it a sign of the times. Workers who would like to be earning a living on this factory floor are sitting in protest instead. Union organizers say Republic Windows and Doors gave the workers only 3 days notice the factory was closing. Now the workers are protesting in shifts and say they won't go home without assurances they'll get the severance and vacation pay they say they're owed. They are broke anyway, they have been thrown out of work and they need to fight for this most basic justice for them. Protest organizers say the company can't pay employees because its creditor Bank of America won't let them. Workers also are angry that Bank of America received big money from the government's financial bail out package. Illinois Governor Rod Blagojevich has asked all Illinois government agencies to suspend business with Bank of America, because BofA eleced not to extend that loan to Republic to keep it going. The governor wants the bank to use some of its federal bail out money to resolve the protest and to help out the workers. I'm gonna make that switch to Rod Blagojevich."

Illinois Governor Rod Blagojevich:

"We have contacted all our agencies across state government and as of now every agency has been ordered to suspend doing any business with the Bank of America, the Bank of America received $25 billion in tax payer money as part of the financial bail out. This is exactly and precisely the kind of thing that isn't right. When on the one hand powerful special interest get the help of tax payer money to bail them out, the banks and yet the purpose of that money was supposed to be to provide a line of credit to businesses like this. Until they do that, we the State of Illinois will suspend doing any business with the Bank of America and we hope that this kind of leverage and pressure will encourage the Bank of America, Bank of America, Bank of America"

Enter Rod

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People & Blogs

Tags:

• WAZIRISIDE
• STORY:
• Till
• They
• Framed
• Rod
• Blagojevich
• Scene
• 11: