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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (26568)	1/27/2010 4:56:44 PM
From: NOW	2 Recommendations Read Replies (1) \| Respond to of 71463

yes i see...the banks are innocent , the fed did ti all by themselves, move on, pay no attention to the man behind the curtain. I hope you are getting paid for this, if not, i wold be worried about you

To: Real Man who wrote (26568)	1/28/2010 5:14:49 PM
From: Larry S.	2 Recommendations Read Replies (1) \| Respond to of 71463

Vi, I don't often disagree with you but I don't believe the FED was the Architect of the Housing bubble. The real culprits were Clinton (and advisor Summers) and Senator Phil Graham, who together killed Glass Steagall and turned Wall Street into Las Vegas East. Wall Street took advantage of it, poured money they borrowed into marginal mortgages, combined them in packages and bought (also a crime) the rating agencies, who rated the CDOs as AAA. They took advantage of the law as most business people do to maximize profit. We had already gotten hooked on the idea of stock options and bonuses, which motivate management to think short term, as part of pay. (See Ray Carey's www.democratic-capitalism.com) Sure, the FED helped by keeping rates low but those that deserve jail most are Clinton, et al. I sat across the dinner table in 2006 from the head of the mortgage department of a Bank the Frisco Bay area and asked about the mortgages being granted - essentially no money down and an appraisal based on next year's expected price. She effectively said I was to old and didn't understand the new world. She had essentially unlimited money to loan, essentially all from Wall Street. Larry