Wells Fargo Bank Seizes Stockton, California City Hall

[Croatoan]

The banksters want it all ... and extending credit is how they eventually get it. Of course, the credit is created out of thin air, but no one minds that, right?
========================

http://www.economicpolicyjournal.com...alifornia.html

THURSDAY, MAY 31, 2012

Wells Fargo Seizes Stockton, California City Hall

The Stockton City Council announced Wednesday that they will look at bankruptcy contingency plans after Wells Fargo seized the new city hall building.

The city paid $35 million to buy the 8-story building, but was not able to move in because of its money problems, and recently stopped making debt payments all together. This is the fourth building that was repossessed by Wells Fargo; the bank seized three city parking garages for the same reason.

Just wait to financial problems start to put a squeeze on state governments. California and Illinois are high up on the list. They might be able to scrape by for another year or two, but that's it.

[Kayso]

Maybe if they started declining welfare applicants and shooing off the welfare rolls the lazy bums who can work but choose not to the state of Kalifornia could afford its public buildings.

[Lydia Darragh]

I'm having a hard time trying to figure out which side to feel sorry for. Do I pity the corrupt local government, or the corrupt bank having to repossess yet another building from a loser client?

[ElevenO]

Lydia,

Have you ever seen the "Mad Max" sequel called "Thunderdome"? Remember the cage fight that took place early in the movie? Remember how all of the spectators outside of the cage started chanting "Two men enter. One man leaves"? You and I are some of the spectators looking at this particular fight and, right now, it appears that the local government will end up succumbing to the bankers.


Here's a clip to the scene that I referred to : http://youtu.be/pmRAiUPdRjk

[Pastor Guest]

The borrower is servant to the lender. And, it doesn't matter who the borrower is.


http://stepstowardthemark.com

[Blacknarwhal]

I'm having a hard time trying to figure out which side to feel sorry for. Do I pity the corrupt local government, or the corrupt bank having to repossess yet another building from a loser client?

So then the government of the city of Stockton ISN'T part of TPTB?

[Kayso]

So then the government of the city of Stockton ISN'T part of TPTB?

I would assume not since they are trying to focus power at the federal level and strip local and state governments of any real role.

[sorrow]

So then the government of the city of Stockton ISN'T part of TPTB?

they eat their own.......

[Bad Hand]

Want to save a couple billion a year? Deport the Illegal Aliens but that will never happen because they are the democraps voter base.

[dstraito]

Stockton KNEW this was coming but did not curtail their spending.

The whole state of California will probably follow eventually.