President Barack Obama Message Board

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Politics : President Barack Obama

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To: Bread Upon The Water who wrote (33880)	9/21/2008 2:56:47 PM
From: sylvester80	Read Replies (1) of 149317

MUST READ - Until 2001 housing was doing just fine. Mortgages were doing just fine. It wasn't till POS Bush and the Republicans took office that the orgy with housing, mortgages and Wall Street started. From 2001 to 2007 they opened the credit spigots, Wall Street investment houses colluded with the credit houses and miraculously turned subprime, ALT-A/no-doc and negative amortization toxic loans from JUNK sht into AAA and they started packaging them into CDOs and making a killing while offering loan officers DOUBLE the bonus to put people in those toxic loans versus the normal fixed rate 15 and 30 year ones. In the mean time the regulators that were supposed to watch out for crooks they themselves were replaced by the Bush republicans with crooks. So you had wolves guarding the hen house. Who in the hell do you think POS Bush's Treasury Secretary Henry Paulson is????? He is one of the crooks of the credit and housing implosion. He is part of the culture of corruption that colluded with the credit houses to have those junk sht CDOs turned into AAA miracles. He funneled $1 billion of illegal profits (and now wants to socialize the vast losses he himself created along with the other republican criminals) into his own piggy bank before he quit from his CEO position at Goldman Sachs in 2006 at the peak of the bubble and became the wolf who would be guarding the hen house as Treasury sectretary and now wants a $1 trillion dollar BLANK CHECK (like a monarch) to bail out his buddies and fellow republican crooks. Republican voters are completely stupid to keep falling over and over and over for these 100% American traitors. WAKE THE HELL UP!!!! You've been had by the biggest Republican CON job in the history of CON jobs.

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