Let The Domino Chips Cascade Into The Abyss Poem by Joe Rosochacki

Back when I was living in Florida, in West Palm Beach,
It was a difficult life for me to live in,
The jobs were a lot Buls#$%@T and my marriage to Jan was out of reach,
We struggled to make the mortgage payments,
-when Jan said,
“We have to go an interest only mortgage.”
Needless to say we did not,
-and we had to sell the house,
And Jan filed for divorce,
Jan said we can go our ways,
-our marriage is dead.
But in interim time I was job hunting,
And I was interviewed by Liberty Mortgage Company.
I, at the time was a smooth talker;
the work was on commission base only,
That when I was first associated with sub-prime loans,
Although I was not mortgage broker,
- my job was to get the salesperson in the house,
The salesperson would sell the contract for the mortgage,
The mortgage broker would finish the deal.
But it somehow did not seem real.
They told me that could pull 6 figures in a year’s time,
They told that the housing market wouldn’t cool off,
-everything would be sublime,
They were counting on people like Jan,
Who would borrow up to 120% THEIR HOMES VALUE!
To payoff high credit card debt that was the plan,

The interest only loan was 2/28 Mortgage,
The first two years was less money going out,
But the 25 month was shocker to most people,
Their homes lost value when housing market went awry,
The payments became so steep they cried to their mortgage holders,
The mortgage holders cried to the banks,
he banks cried to the Government.
HELP US!
But what has happened cannot be reversed that easily,
The Liberty Mortgage Company,
in Boca Raton,
is one a thousand companies,
That led people in to the abyss with their bubble,
Their bubble broke,
-and the people fought to get to the surface.
The Liberty Mortgage Company is still in business,
like a thousand other companies,
This reflection of this greed conspiracy,
Is still in the mirror of the stock exchange worldwide,
Like Dominoes, the markets crash into the abyss,
By the way, --I didn’t take the job.

It has been 8 months to the day,
That I wrote on this observation,
I wrote about the bearish market by the way,
In the observation about the Bear Stearns situation.

Many of the Wall Street companies are no more,
Their stock holders wiped out,
The Government is bailing out Freddy, Fannie, AIG,
If you’re going to rip off the system,
do it big,
For you are going to be so big that country will be devastated if you fail,
(By the way Lehman Brothers was bought by Barclay’s,
Merrill-Lynch will be bought out by Bank of America,
and Washington Mutual is for sale,

-I guess they weren’t as big as I thought)
This is going to the cost better than a trillion dollars or more,
This is the kind of legacy we leave for future generations?
We have our deficits in their lives,
Where our sins stored.
Not to mention the wars,
natural disasters such like Hurricanes Katrina and Ike,
Our future generations will be holding the mortgage on the mortgage brokers.
And if they fail who will bail out them?
The Savings and Loan disaster,
ENRON, what a bunch of thieving jokers,
The latest con was the mortgage brokers
- and Wall Street and the like.

The Wall Street Bail Out is under going pressure,
It’s not exactly what the Treasury Department had in mind,
The Feds took over WaMu and sold to JPMorgan Chase for pennies on the dollar,
The stock holders were greedy they were blind,
Bear Stearns and Washington Mutual,
like buying a $30,000 car for 300 or less,
But unfortunately the car wasn’t given road test.

Wachovia is being bought by CitiGroup Bank,
Before it’s over a few others will join the ranks,
The $700,000,000,000.00 bail out has to pass both houses yet a second they do not miss,
Because the fading
Domino chips are cascading; Into the abyss.

It was reported on the AP at 3: 10 EST that the Congress failed to pass the bill,
Stocks were plunging before this happened,
It took a lot of guts if you will,
The is closest we have come to The Great Depression.

The Dow took a plunge this afternoon,
The Asian markets will open up soon,
And the European Markets will open as time goes around the globe,
And tomorrow will be here before we know it,
The economy flashing a strobe,
Full of anxiety not bliss,
Worldly Domino Chips are cascading,
Into the Abyss.

The blaming starts, as my wife, Judy,
said we are to blame,
For Carpe Diem, the greed,
the wants,
the covetous nature,
Not saving money,
being entirely in debt and our savings are lame,
We should have been more mature.

The Bail Out has succeeded,
They were warning signs that went unheeded
The Government owns Wall Street,
So much for capitalism,
I would not dreamed that the observation SPQR would come to this,
Karl Marx is rolling in his grave, with laughter,
The father of Socialism and Communism.

Now the bill is signed but effective will it be,
It should fortify credit that is the theory,
The Commonwealth of Massachusetts is seeking the same deal as Wall Street,
The Kennedy Empire is no match against the Feds,
Common wealth equates to people’s assets,
American taxpayers money.
The job I didn’t take at Liberty Mutual is somehow directly responsible for this,
If it wasn’t so sad it would be kind of funny,
It’s kind of a mean trick,
The world waits as the hand unfolds,
it won’t be long.

Many ordinary people from Algiers to New Delhi have watched
Wall Street degenerates on TV as if it were a gruesome spectator sport,
its casualties limited to American homeowners and investment bankers.
But it is also taking a toll on lives less clearly linked to what's gone wrong.

The New World Order,
when gets a cold,
Everybody gets sick.

The bail out was ruled law,
it came and went,
But in the worldly stock markets-
In Asia, the Nikkei 225 closed 4.25 percent lower.
Europe's stock markets
also declined, with the FTSE-100 down 3.32 percent,
Germany's DAX down 5.72 percent,
and France's CAC-40 down 6.31 percent.
Banks across the globe are reacting with anxiety,
The economy is based on emotion rather than gold,
The economic prognosis is a study in psychiatry,
I hope the stocks are bought more than they are sold.

Who knows what tomorrow brings,
Maybe benelovence or malevolence lurking,
'The fact is people are scared and the only thing they're doing is selling, '
said Ryan Detrick, senior technical strategist at Schaeffer's Investment
Research.
'Investors are cleaning out portfolios and getting rid of everything
because nothing seems to be working.'

When will it end?
The Abyss, by definition, has no end,
A world moratorium is needed for trading stocks,
To stabilize the markets-with some luck.
The “bears” are running amuck,
A bank holiday is needed for the entire world economy,
This is fairy tale with non-intrinsic money,
That is based on emotion rather than based on Gold (ilocks) .

The stock market is being battered again,
This time to dropp is for GM,
General Motors Acceptance Corporation is in the dust,
Like so many cars made by GM they turned to rust.
GM has trouble selling cars,
Let alone bad mortgages,
They are about to get knocked out and see stars,
As their crumbling market falls apart.
The Dow took a plunge falling below 9,000.
To bad the economy has no such icon as “Restart.”

The Dow had has its worst since it began,
President Bush will be on TV later this morning,
To say our economy is strong for every American Woman or Man,
More manure from the White House,
We, the mushrooms, are kept in the dark.
What else does he have to offer?
He is a lame duck and has an approval rating, when graded, would be F,
Minus times 10.

20 top financial leaders met at White House to solve the world economic crisis,
More or less to get in the black, bring home the bacon,
Get the Home when run around the bases,
Officials from the Group of 20 countries — which include the wealthiest and the world's biggest developing nations such as China, Brazil and India — planned to attend a meeting Saturday evening that Paulson requested to explain the actions that U.S. and other wealthy nations have taken.
The Bush Administration is not entirely to blame,
A Couple people to name,
Senator Dodd and Representative Barney Frank, both Democrats,
Did head the legislative governing bodies as far as financial matters,

Dodd and Frank were sleeping in bed with mortgage bankers,
For shame they put blame, on the Republicans only,
And for shame Obama does not this foul in the political game.
Today that stock market rebounded,
Are we over the crash yet?
Before the closing bell sounded,
The confidence is almost there,
Paul Krugman, PhD. at Princeton in economics, won the Nobel Prize,
To him with much surprise,
He won it based formula of “free-trade” globalization.
He won within a week or the most turbulent times across the globe,
Most economies were stagnant if not dead.
“He has thereby integrated the previously disparate research fields of international trade and economic geography, ' it (the Nobel Academy) said.
I did not to take his class to understand,
The movie “Wall Street” is the only class you have to take,
The house of cards is based upon greed,
The house of cards is based upon personal covetous aspirations,
The house of cards is based upon emotion rather than gold.
The house of cards is based upon fear.
The house of cards is based upon for people to part of an indentured slavery,
On earth, some of which the dark side bought when their souls were sold.
I may not have a Nobel Economics Prize,
I may not have pulled six figures,
Nor to that once was and will not be again-the one’s that would not be on “bucket list”,
And for “Dominoes” let’s play the game of 42, and our fears done in to the abyss.

(10-13-08)