THEY GAVE ALL THE MONEY TO THE BANKS AND WALL STREET TO BAIL THEM OUT OF THE SUBPRIME MORTGAGE CRISIS WHICH THE GOVERNMENT ENGINEERED TO BOOSTER THE ECONOMY WITH EASY CREDIT. THERE WAS ALMOST A WORLD ECONOMIC COLLAPSE. I GUESS BERNIE MADOFF'S COUSIN WAS RUNNING THE FED. THERE WAS NO BAILOUT FOR THE CONSUMER WHO WAS SUCKERED INTO EASY CREDIT. THEY BELIEVED IF AN APPRAISER SAID A HOUSE WAS WORTH SUCH AND SUCH. IT WAS. IF A BANK GAVE A MORTGAGE IT MUST BE WARRANTED BY THE BUYER'S FINANCES AND THE ECONOMIC CLIMATE. NOT! IN SEPTEMBER OF 2008, IT ALL CRASHED. BERNANKE AND THE OTHER GOLDMAN SACHS BOYS WERE ON THEIR KNEES TO NANCY PELOSI BEGGING FOR A BAILOUT. THEY TOOK THE MONEY AQND RAN A LA BERNIE MADOFF AND HIS HOUSE OF CARDS.
SO AFTER TWO APPRAISERS SAID MY HOUSE PURCHASED IN EARLY 2008 WAS WORTH $260,000 AND SUNTRUST GAVE ME A MORTGAGE, I'M FACED WITH REAL ESTATE THAT IS NOT WORTH HALF WHAT I PAID. I AM NOT BEING BAILED OUT. NOW BANKS WON'T ALLOW LOCAL APPRAISERS TO VALUE HOMES ANYMORE. THE MAIN EMPLOYER IN MY TOWN HAS BEEN OUTSOURCED TO RUSSIA.
THE LATEST BUDGET CUTS WILL BE ON THE BACKS OF THE POOR. REP. RYAN IS READY TO ATTACK MEDICARE,SOCIAL SECURITY AND MEDICAID. AID TO DISABLED CHILDREN WILL BE CURTAILED. IT'S ALLL TO STIMULATE BUSINESS. WHAT BUSINESS IT HAS BEEN OUTSOURCED OR MADE IN CHINA. GE PAID NO TAXES LAST YEAR BECAUSE THEIR CORPORATE OFFICES ARE OUTSIDE OF THE USA. WHATEVER THEY ARE MAKING IN CHINA DOESN'T WORK. ALL THE SHELVES FELL OFF THE DOOR OF MY GE REFRIGERATOR. MY OTHER ONE TOTALLY BROKE AFTER A FEW YEARS.
OH I DIGRESS, THE CONSUMER WHO WAS HOODWINKED BY GREENSPAN INTO EASY CREDIT IS GETTING NO HELP. EVERYONE WHO DRINKS TEA SAYS THEY SHOULD HAVE KNOWN. NO CORRUPT MORTGAGE CO,BANK OR APPRAISER OR REAL ESTATE COMPANY IS BEING PROSECUTED EXCEPT BERNIE MADOFF WHO MADE NO PRETENSE THAT IT WAS A PYRAMID GAME. THE COFFEE DRINKERS HAVE LOST POWER AND DIDN'T HELP THE CONSUMER JUST THE BANKS WHEN THEY WERE IN POWER.
CONSUMERS FOLLOWING GREENSPAN INTO EASY CREDT |
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