Maintaining the President’s simplified line of thinking, I can not escape the conclusion that we have been set up to take a massive fall in what will soon be the biggest hustle ever perpetrated by a Government against it’s People. Think about this:
The crisis was caused by mortgage defaults and foreclosures; a Limp-Wrested Program to prevent to massive failure Paulson and Bush are now telling us is immanent introduced in plenty of time to save us all, but there was no real profit in it for the lenders.
Even if every loan was modified and no one ever defaulted on a single mortgage, the banks would all still be facing steep losses because they themselves leveraged their assets to 100% or more, obviously following their own lame advice.
They built Houses and Condo’s like there was no tomorrow, and they bought way too many high priced Commercial Properties at the peak of the market. There is no possible way for them to ever recoup their investments - which have nothing to do with your or me whatsoever - and now they have figured out a way to Pass the Proverbial Buck on to us poor, hardworking taxpayers.
Now they are using the treat of an economic meltdown to cram this turkey down our throats, and it seems we are powerless to do anything about it. Who will save us? Barney? Dodd? Pelosi?Trust me, they won’t. You need to save yourself.
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