crisis.
http://video.pbs.org/video/2327953844/
I knew people who worked for countryside
in-fucking-sane
http://video.pbs.org/video/2327953844/
I knew people who worked for countryside
in-fucking-sane
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FRONTLINE examines why no Wall St. execs have faced fraud charges for the financial
- Thread starter Weird
- Start date
My mortgage was managed by Countrywide leading up to 2008. It drove them nuts that I had a secure fixed rate mortgage. They were on the phone hounding me to change to an adjustable rate. When I expressed interest in getting a mortgage backed line of credit their adjuster was trying to tell me how I could use it to advantage by taking the money and putting it into a savings account to earn interest. They were overcome with their own greed.
Sad shit. MBS ( Mortgage Backed Securities)continues to haunt us, and will for a long time or until the debt is repudiated. The Fed is buying 84 BILLION in MBS every month. The banks that own the original MBS are being paid par for the junk paper, allowing the banks to unload non performing assets for full face value even though they are worthless. USA taxpayers will have to make good on paying back the Fed, who will eventually own every house with a mortgage in America. But this story is about politics, not bankers. The new banking regulations, called Dodd-Frank, were written by two of the men that deserve more blame than almost anyone else for the mortgage/bank crisis. Chris Dodd was head of the Senate Finance Committee and Barney Frank headed up the House side. Both were at the top of the list called "Friends of Angelo", a group of connected political insiders who were given extra special priveleges and below market mortgages. Dodd/Frank was written by bank and finance lobbyists, was thousands of pages long that nobody read, and was rammed through much like Obamacare with litlle debate and no understanding. None of it's provisions will help anyone other than the elites who wrote it.
The really sad thing is that from September 2008 up until now absolutely nothing has been fixed, indeed we are far worse off now than we were then. With no bankers or politicians being made accountable there is no fear. And an environment with no fear is not a natural state. Incredibly risky behaviour is being backstopped by taxpayer guarantees, which is real money that WILL be repaid, one way or another. Politicians could fix this tomorrow: reinstate Glass- Steagull, force mark to market accounting, unwind Fannie and Freddie, get the government out of the mortgage business completely and let all the TBTF banks crash and burn. Credit unions and community banks are sufficient for our needs. But the hard truthiness of it is that we Americans had a chance to elect someone like Ron Paul to lead us, and we chose very poorly. In September 2008 the entire credit system froze in place. All trust evaporated. Everyone pressed the eject button. The Money Market system failed, bank runs began, supplies stopped being shipped, letters of credit, lines of credit, credit cards, bank deposits; all of it was gone. Many people do not know how close we were from becoming Medieval in a few days time. The Federal Reserve loaned out 14 trillion to try and stop the collapse. But other than the money, which has done nothing but sit on the banks accounts as reserves, absolutely NOTHING has been done to fix anything. Hear that??? that's the sound of inevitability.
The really sad thing is that from September 2008 up until now absolutely nothing has been fixed, indeed we are far worse off now than we were then. With no bankers or politicians being made accountable there is no fear. And an environment with no fear is not a natural state. Incredibly risky behaviour is being backstopped by taxpayer guarantees, which is real money that WILL be repaid, one way or another. Politicians could fix this tomorrow: reinstate Glass- Steagull, force mark to market accounting, unwind Fannie and Freddie, get the government out of the mortgage business completely and let all the TBTF banks crash and burn. Credit unions and community banks are sufficient for our needs. But the hard truthiness of it is that we Americans had a chance to elect someone like Ron Paul to lead us, and we chose very poorly. In September 2008 the entire credit system froze in place. All trust evaporated. Everyone pressed the eject button. The Money Market system failed, bank runs began, supplies stopped being shipped, letters of credit, lines of credit, credit cards, bank deposits; all of it was gone. Many people do not know how close we were from becoming Medieval in a few days time. The Federal Reserve loaned out 14 trillion to try and stop the collapse. But other than the money, which has done nothing but sit on the banks accounts as reserves, absolutely NOTHING has been done to fix anything. Hear that??? that's the sound of inevitability.
this is why the stock market is climbing yet the middle class is feeling the squeeze even more
it won't stop until we revert back to surf peasant and ruling class hierarchies
by then it will be some rich people some robots and some human robot hybrid slaves
and of course a rouge enclave of human space hippies riding the furthur bus to the mars hotel and beyond
it won't stop until we revert back to surf peasant and ruling class hierarchies
by then it will be some rich people some robots and some human robot hybrid slaves
and of course a rouge enclave of human space hippies riding the furthur bus to the mars hotel and beyond
I didn't read the article but I think I can sum it up pretty simply, money can buy ANYTHING here. No rich prick is ever going to put some other rich prick that can pay him in jail, that would just dry up his income. Duh.
I also see a greater and greater, always increasing, division between the haves and have nots in the USA. If history is any teacher, and it ALWAYS has been right, this will all come to a sad, violent, tragic end. In the not to distant future too.
I also see a greater and greater, always increasing, division between the haves and have nots in the USA. If history is any teacher, and it ALWAYS has been right, this will all come to a sad, violent, tragic end. In the not to distant future too.
It's because we live in a global financial dictatorship. There are two sets of laws. One for the peasants and one for the oligarchs who rape and plunder at will knowing full well that there will be no repercussions.
Instead of letting it collapse in 2008 and letting the market clear the corruption and usury out of the system it was further consolidated in the hands of a few and sold to the people as "if you don't let us do this things will be much worse." So now the people cheer for their own destruction and clamor for central banks to print money to prop of the rotten edifice for just one more day.....just one more day.
Anything to not deal with the consequences of letting banksters and wanna be demi-gods control our system for decades. Anything to not face that reality.
We'd collectively rather be plundered and raped than come to terms with the fact that our political and financial system has failed and needs a hard reboot.
Instead of letting it collapse in 2008 and letting the market clear the corruption and usury out of the system it was further consolidated in the hands of a few and sold to the people as "if you don't let us do this things will be much worse." So now the people cheer for their own destruction and clamor for central banks to print money to prop of the rotten edifice for just one more day.....just one more day.
Anything to not deal with the consequences of letting banksters and wanna be demi-gods control our system for decades. Anything to not face that reality.
We'd collectively rather be plundered and raped than come to terms with the fact that our political and financial system has failed and needs a hard reboot.
All from the same Tribe....They are all Zionist....
HHmmm didnt Jesus tell them in the Bible that GOD isnt down with Money Lenders and Tax Collectors ???
Connect the dots.... do some homework...turn off the MSM and go search for the truth
HHmmm didnt Jesus tell them in the Bible that GOD isnt down with Money Lenders and Tax Collectors ???
Connect the dots.... do some homework...turn off the MSM and go search for the truth
Criminals paid by criminals to watch out for criminals...
What could be wrong with that business model?
What could be wrong with that business model?
G
greenmatter
i read somewhere that when the SEC was set up and Joe Kennedy was put in charge the president said "it takes a crook to catch a crook"
at some point the SEC just got tired of chasing it's own tail i guess
at some point the SEC just got tired of chasing it's own tail i guess
fixed your nonsense..
Im sick of the liberals winning every argument damnit.
Should some of us switch to the other team??
Should some of us switch to the other team??
you're wrong about the two sets of rules part, the rich don't have any rules
That's what the statement implied. Financial oligarchs and their patsy political class live in a state of utter lawlessness.
The peasants have ever increasing piles of legislation and laws thrown on them for which they are institutionalized in said political classes private prisons.
The average American either does not care or is so traumatized by being raped and plundered that we've collectively embraced something eerily similar to Stockholm Syndrome on a national level.
We (on a collective level) idolize our abusers and ask for more.
Epic holder pic.
