December 12, 2007 (LPAC)--Sen. Hillary Clinton's campaign put out a new statement on Dec. 11 reiterating her proposal for an across-the-board national moratorium on home foreclosures. Clinton is the only Presidential candidate to call for a complete halt to foreclosures--and some local Democratic leaders are echoing her call, along with the hundreds who have backed Lyndon LaRouche's proposed Homeowners and Bank Protection Act, which stops foreclosures and protects chartered banks from runs. But Clinton's "plan" is still not the kind of action which can bring a hyperinflationary bank panic under control, and save millions of homeowners their homes.

Clinton characterizes the Bush/Paulson plan: "The Bush plan is designed to help as few homeowners as possible.... The Bush plan excludes homeowners whose mortgages reset prior to January 2008.... It is intentionally designed to leave out the roughly 400,000 families whose mortgages are resetting this quarter."

"My plan," she says, "imposes an immediate across-the-board moratorium on foreclosures; an automatic, across-the-board rate freeze; and the requirement that servicers and lenders provide status reports on how many mortgages they are converting from designed-to-fail to designed-to-work." And $5 billion fund to help communities hit by foreclosure waves.

But Clinton is still not proposing to put "her plan" into Congressional legislation, but to demand it of the mortgage lenders and the White House--an impossible quest. LaRouche's HBPA is the only Congressional enactment that will work in this crisis.

Three other Presidential candidates--John Edwards, Barak Obama, and Bill Richardson--support reforms of the bankruptcy code to allow homeowners to go into bankruptcy in order to try to avoid foreclosure, and bankruptcy judges to modify mortgages.