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alstry (35.90)

The ONLY reason for the Financial Crisis!!!!!!

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June 17, 2009 – Comments (5)

Greenspan lowering interest rates to 50 year lows permitting bankers to avoid income verification. At the same time encouraging borrowers to take out adustable rate mortgages.  In total, banks loaned out trillions of dollars infecting the nation with more debt than it could afford to pay back.  Then, just to bend over Americans and fully insert the baseball bat where the balls aren't pitched...... jacking up interest rates 17 times making it impossible for millions to pay back the debt.

You don't think this was planned???

Then why in the heck did they change the bankruptcy laws in 2005 at the peak to make it much more difficult to discharge debt?????  And now the banks are cutting off credit to the entire country while the Fed gains even MORE power?????

It ain't hare to see where this is going.....and we citizens are right in the crosshairs as the banks get bailed out!!!!!!!!!!!!!!!!!!!!!!!!!

How stupid is the world????

5 Comments – Post Your Own

#1) On June 17, 2009 at 5:31 PM, alstry (35.90) wrote:

TIME TO OUTSOURCE AMERICA!!!!!!!!

We can no longer serve the banking system as few of us can afford to borrow or those of us that can have no economic use to borrow!!!

In the name of efficiency, it could be better to shut America down and sell our natural resources to the BRICs.

If you think about it, it would be a lot more profitable for our banks to loan every Chinese family a few thousand dollars in a growing economy then take the risk on Americans where the default rate is skyrocketing making loans unprofitable.

In the name of economic efficiency, why not shut America down just as we did to thousands of factories across the nation and move all of our business to the BRICs whose citizens don't have much debt and demand much lower wages.

After all, few Americans can afford to borrow and consume anymore!!!!!!! Who are the banks going to lend to in America anymore???? If you really think about it, what good are we to the banks that we just bailed out???????

Has America become the rust belt today to bankers???? Most of us never seemed to care when it wasn't us....what happens now if it is all of us?????

Isn't that what efficient distribution of capital is all about???

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#2) On June 17, 2009 at 6:43 PM, Evlampius (< 20) wrote:

are you like gonna drink kool-aide anytime soon? kind of tired of your whining....seriously.

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#3) On June 17, 2009 at 6:46 PM, alstry (35.90) wrote:

kind of embarassing score you have to be tired of my whining......dude!!!!

Please, when you want to play in the big league...learn how to hit the ball first!!!!!.....dude!!!!!

In the mean time...mommy's calling.....dude!!!!

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#4) On June 17, 2009 at 8:48 PM, abitare (99.46) wrote:

“Let me issue and control a nation’s money and I care not who writes the laws.”
Mayer Amschel Rothschild, 1790

The Rothschild’s, The Morgan’s and a few other families created a monetary system that embraced manipulation. Nothing in government nor in business happens without the approval of the banking system they created.

Thomas Jefferson saw what a banking system could do to the people.

“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” -
Thomas Jefferson

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#5) On June 21, 2009 at 1:11 AM, AdirondackFund (< 20) wrote:

Couldn't agree more Abitare.  Spot on. 

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