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Stop the foreclosures

Dear Editor:

Your article on Feb. 15 about “commercial vacancies on the upswing” by Bill Small is nothing short of scary. You can see here vacancies spring up almost daily. Stores with mortgages and no tenants will no doubt be foreclosed, although the banks won’t have a clue as to what to do next.

This is called the “second shoe.” The first was, and still is, the millions of home foreclosures. While I think President Obama is doing his best with the wrecked economy Greenspan and Bush left for him, slowing home foreclosures gets a “D.” There should be a moratorium until the new economic team can figure out what to do.

The lack of not knowing what to do has created about 4 million homeless, and sadly one-third are children. Some will be primed for drugs and crime. Yes, sadly our society will pay dearly for this problem.

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I urge a moratorium on home foreclosures and commercial foreclosures until the president’s economic team can figure out what to do. And, don’t forget the damage caused by the Federal Reserve Board (FRB): interest rates up 525 percent from 2001-2005. Uggh!!

As Rep. Ron Paul has said for 20 years, the FRB needs serious congressional oversight and controls. When? I hope soon.

Richard Goodwin

Snowmass Village


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