The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: neolib who wrote (229708)	11/20/2009 10:04:50 PM
From: Skeeter Bug	Read Replies (3) of 306849

>>If corruption rules, why didn't the corrupt succeed in averting more of their own problems earlier?<< because it was much more profitable to blow the bubble up, suffer its collapse and get the government to put $24 trillion up to cover your back. the alternative would be to make much less throughout the late 90s and 2000s - and they weren't about to make $3 or 4 million when they could make $40 million and then get the government to bail them out. they knew failure would occur - that's why they kept the revolving door with government churning. that's why they spent billions lobbying washington. that's why they passed bankruptcy "reform" that fed over the citizenry - they can't walk away from credit card debt in a bankruptcy anymore. you think that was random? the banking industry knew* it was coming. wall street banks offloaded all the bad paper b/c they knew it was bad! if they thought they were a great investment, they would've kept much more of it! >>Instead, nobody in the Government really understood the magnitude of the issues, or thought things could get as bad as they did. Thats ineptness, not corruption.<< a few people saw it and acknowledged it. more saw it, understood the risks and were paid well to keep their traps shut. i'm sure some were just naive and believed whatever the billionaire bankers told them after cashing the checks. the whole mortgage debacle wasn't a mistake - it was predatory lending and bank fraud. pbs.org this isn't new stuff... themoneymasters.com If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks...will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered.... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809) "I believe that banking institutions are more dangerous to our liberties than standing armies." - Thomas Jefferson youtube.com video.google.com gerald celente MP3 link: kingworldnews.com

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