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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (127125)	4/16/2011 7:32:01 PM
From: Skeeter Bug	1 Recommendation Read Replies (1) \| Respond to of 132070

>>CRE? You mean CRA?<< no, CRE is commercial real estate. it collapsed and CRA had nothing to do with it. >>Throwing a rock off a mountain is small potatoes, too...but in the right conditions it can cause an avalanche.<< only if the fed criminally puts a bunch of loose parabolic credit "rocks" and "boulders" in the way first. credit is money. if credit wasn't criminally taken parabolic (why aren';t you demanding sanctions for the fed and the removal of bernanke for his criminal behavior that led to the collapse we currently face?), there wouldn't be any money to give out as irresponsible loans - TO ANYONE! they simply suckered us in with false prosperity as a tool to blow up the bubble (and create an eventual crash that will increase their power and control all the more. Oh, and eliminate the competition, too). >>The correcting mechanisms of the market were disabled for subprime mortgages; how could this not affect the closely related mortgage and commercial real estate markets? Particularly when politicians of both parties try to mandate that the party be kept going for as long as possible?<< if there is no credit bubble, there is none of this nonsense. the banks wanted the bubble and CRA helped them blow it. it is an effect, not a cause. if you think a bunch of poor people can force the wall street banks into doing something they don't want to do then you haven't been paying attention. when the banks wanted trillions and 99-1 people said "no," the banks go their way. you have cause and effect reverse. bush even sued the state of new york to PREVENT THEM from requiring "ability to repay" on all loans. IOW, bush sued to allow the banks to make loans to people WITH NO ABILITY TO EVER REPAY THE LOAN. nakedcapitalism.com when the state stepped in to stop the BANKER PREDATORY LENDING, bush sued to prevent them (state's rights my ss!). this was all part of the conscious decision to blow the world's largest credit bubble (not made by poor sub prime lenders, BTW) and then bail themselves out when it all came crashing down. look at the chart... market-ticker.denninger.net do you understand it? credit has to collapse back down to sustainable levels. when you take credit parabolic to GDP like that, A COMPLETE COLLAPSE IN CREDIT AND MONEY IS BUILT INTO THE CAKE. they knew it! they did it BY DESIGN. you are so conditioned to blame the democrats (on leg of the Big Capital tyrannical ogre, the right leg being part of the ogre, too) that you can't quite grasp that the Big Capital criminal cartel is pulling the strings with the eventual outcome of a collapsed America. >>I have no wish to give cover to the Fed and its credit bubble, but you must recognize the old socialist two-step at work in the mortgage market: first disable the market by legislative fiat, then claim that since the market has failed, big government must take it over entirely. And what percentage of mortgages do the Feds own today? 70%, isn't it?<< yes, but the "socialist two step" was only allowed because it fit into the overall plan of the criminal financial cartel that was hll bent on blowing the largest bubble in human history. CRA was a just one set of tools used by the oligarchs to blow the bubble and set the stage for the collapse. it WAS NOT some unknown that just happened to lead to collapse - nobody saw it coming. this was BY DESIGN. america is UNDER ATTACK. it is COVERT and DISCRETE. one has to CRITICALLY THINK THROUGH IT. one has to question why fed law breaking gets one touted as a hero who saved the world on time magazine. he should be in jail, but, alas, THERE ARE NO CONSEQUENCES FOR BREAKING THE LAW AT THAT LEVEL. read through finreg. all the way. you can list all the criminal penalties contained therein without using any space. what good is a law with no penalty? it is no law at all. only the serf class gets penalties. the oligarchs can't be penalized. all by random chance accidence, of course.