Do You Think That Banks Are Crooks?

[thaiturkey]

Thanks for the informed insight, ivan3.

If justice is done, this scandal has a long way to run.

 

[Stephanie739]

Good post Ivan!!! Very informative.

The Commodity Futures Modernization Act, would "open the door to the door to unregulated trading of credit default swaps," http://www.nytimes.com/2008/11/17/business/17grammside.html?_r=2&pagewanted=all This is what I was pointing out about the insurance policies being sold to cover the housing loans as they fell into default, i.e. the people trading in this market had a financial incentive for the loans to default - this is against the most basic insurance principle. Of course TARP came to AIG's rescue, thank you Federal Reserve?

Mortgage companies kept loaning. When the loans fell into default, the same people making money from the loans cash in again from the insurance policies (AIG a leader), at the expense of the taxpayers (TARP) The mortgage loans were also spliced and divided so intricately (sold, resold, etc) that none could be traced to the originator. And add insult to injury, the people responsible for the whole corrupt system (those who cashed in both areas) also took home billions in bonuses for a job well done. Guess who the world financiers, who seem to side always with the Republicans, want to place the blame: Fannie and Freddie, government entities (usually Democrat supported) which want to help low income families purchase homes.

I told you I believe the entire crisis was seen, manipulated, and pushed in certain directions with specific goals in mind.

I predict the same type of "shenanigans" with health care reform and the student loan (soon to be crisis) The world bankers design (spoiler: conspiracy theory!) - government is not the answer (Democrats), only the wealthy private 1% (the capitalists, the "free market" supporters

the "job creators" should rule the world of serfs)

 

[hemet dennis]

Good post Ivan!!! Very informative.

The Commodity Futures Modernization Act, would "open the door to the door to unregulated trading of credit default swaps," http://www.nytimes.com/2008/11/17/business/17grammside.html?_r=2&pagewanted=all This is what I was pointing out about the insurance policies being sold to cover the housing loans as they fell into default, i.e. the people trading in this market had a financial incentive for the loans to default - this is against the most basic insurance principle. Of course TARP came to AIG's rescue, thank you Federal Reserve?

Mortgage companies kept loaning. When the loans fell into default, the same people making money from the loans cash in again from the insurance policies (AIG a leader), at the expense of the taxpayers (TARP) The mortgage loans were also spliced and divided so intricately (sold, resold, etc) that none could be traced to the originator. And add insult to injury, the people responsible for the whole corrupt system (those who cashed in both areas) also took home billions in bonuses for a job well done. Guess who the world financiers, who seem to side always with the Republicans, want to place the blame: Fannie and Freddie, government entities (usually Democrat supported) which want to help low income families purchase homes.

I told you I believe the entire crisis was seen, manipulated, and pushed in certain directions with specific goals in mind.

I predict the same type of "shenanigans" with health care reform and the student loan (soon to be crisis) The world bankers design (spoiler: conspiracy theory!) - government is not the answer (Democrats), only the wealthy private 1% (the capitalists, the "free market" supporters

the "job creators" should rule the world of serfs)

So the modernization act was a bad thing. Well it was pushed through by Phil Gramm (a Democrat) and signed by President Bill Clinton (a Democrat).

The problems with Fannie and Freddie were warned about by President George Bush (a republican) from 2001 on but the other party (the democrats) blocked all attempts to fix it.

 

[Stephanie739]

So the modernization act was a bad thing. Well it was pushed through by Phil Gramm (a Democrat) and signed by President Bill Clinton (a Democrat).

The problems with Fannie and Freddie were warned about by President George Bush (a republican) from 2001 on but the other party (the democrats) blocked all attempts to fix it.

Phil Gramm was working for the Republicans in 2000 when the House and Senate were controlled by the Republicans. He was also John Mccain's economic adviser.

 

[hemet dennis]

Phil Gramm was working for the Republicans in 2000 when the House and Senate were controlled by the Republicans. He was also John Mccain's economic adviser.

He's always been more of a Democrat he switched to Republican because the only real contender was Ron Paul so no problem.

 

[Stephanie739]

He's always been more of a Democrat he switched to Republican because the only real contender was Ron Paul so no problem.

Dennis, I so distrust our political system at this point that I wouldn't put it past them to run one of theirs and rig it to ensure Dr. Ron Paul wouldn't win. John Kerry ran as a Democrat while Bush ran as the Republican, both of whom represented skull and bones.

 

[hemet dennis]

Dennis, I so distrust our political system at this point that I wouldn't put it past them to run one of theirs and rig it to ensure Dr. Ron Paul wouldn't win. John Kerry ran as a Democrat while Bush ran as the Republican, both of whom represented skull and bones.

Do you think to belong to a club you all have to think 100% alike ? Do you have something against skull and bones ? What did you mean by "rig it" ?

 

[Stephanie739]

Well that was a long time ago...still I distrust the politicians, the Republicans more so than the Democrats.

 

[Stephanie739]

Do you think to belong to a club you all have to think 100% alike ? Do you have something against skull and bones ? What did you mean by "rig it" ?

Skull and Bones seek world chaos and total domination. Their loyalty is to the club. They are the 'Brotherhood of Death" and war is their game.
Its "so secret I can't even talk about it," GW Bush http://youtu.be/mPh7sUvhZ3E

 

[Stephanie739]

William Donaldson served as the Chairman of the U.S Securities and Exchange Commission from 2003-2005. GW Bush appointed him, a fellow "Bonesman"