Subprime mortgages allowed millions of people to buy houses they could not afford. An excess of borrowers caused prices to increase. This caused builders to build more and bigger houses. More subprime mortgages enabled more people to them When there were too many houses and too many people could not pay their mortgages, the housing market sank. Many Wall Streat firms had puchaces securities backed by mortgages. When these mortgages could not repay, various Wall Street firms went under. This caused the market to crash.
Also, as consumers borrowed against their houses, they were able to keep the economy going. Now they cannot borrow any more which further hurt the market. What is the nexus between subprime mortgages and the housing bubble and the mayhem on Wall Street this week?
The cause of it all was deregulation... And behind that, simple greed.
Posted: this property under new ownership…… no unauthorized privileges of the following permitted. guns, knives, smoking, Twinkies, sex, talking, thinking, reading, cooking, drinking, or swearing. power will be turned from @ 6am - 7am and again from 8pm-9pm only. If heat and/or hot water is required during these times a permit maybe applied for at your HOA monthly energy council meetings. Clothes maybe washed twice per month with buckets provided. any violation of this privilege will be dealt with harshly. Soup kitchens will be open from 5-7pm nightly for your nutritional needs. All rent payments will be with-drawn automatically from your “wages”. As a privilege for “right behavior” a community movie will be provided after Sunday worship..
ask not what your country can do for you…….. ask what you can do for your country…….
show your patriotism by asking your block enforcer about early extermination……. for a greener %26amp; cleaner community.
frak me America……… Atlas has Shrugged ………. I hope your happy!!
The Secret History Of 9/11
Improbable Collapse (1 of 8) = Demolition of our Republic
EXECUTIVE ORDER 11921 allows the Federal Emergency Preparedness Agency to develop plans to establish control over the mechanisms of production and distribution, of energy sources, wages, salaries, credit and the flow of money in U.S. financial institution in any undefined national emergency. It also provides that when a state of emergency is declared by the President - Congress cannot review the action for six months.”
Army Times Details Army Invasion of U.S.
Army Times | Training for homeland scenarios has already begun at Fort Stewart. Helping ‘people at home’ may become a permanent part of the active Army.
Vicente Fox Tells American Workers To “Get Over It”
You Tube | An interview with EX president of Mexico Vicente Fox where he tells American workers to “get over it”, that their jobs are gone forever and that they must retrain for GLOBAL work
Impacts of the Financial Crisis: The U.S. Is Becoming an Impoverished Nation
Richard C. Cook | The Federal Reserve and Treasury are trying to forestall and cover up the bankruptcy of the entire U.S. economy, which already is looming.
Paulson Plan Could Cost Americans $1 Trillion
U.S. has invented socialism for the rich
(Nouriel Roubini, London Guardian) With the nationalization of Fannie and Freddie, comrades Bush, Paulson and Bernanke started transforming the U.S. into the USSRA (United Socialist State Republic of America)
Politico | Remember, they said the Savings %26amp; Loan mess would only cost $50 billion to fix but it ended up costing $1.4 trillion.
In other words, in order to “stabilize the economy” deliberately wrecked by the banksters, “lawmakers” — that is, high paid whores for bankers and transnational corporations — will agree to crank up the already staggering national debt with this scheme.
Recall Chris Dodd saying there would be no more government bailouts for other banks or institutions after $80 billion AIG bailout. Man, that Chris is a funny guy… he also takes you for an idiot.
But of course, there will be bailouts and sweetheart deals for the bankers into the indeterminable future. Because the average American can hardly count on his fingers and toes, let alone understand Basic Economics 101. He does not know a predatory financial Mafia is running the country and his “representative” is on the hook to the international bankers. He’s clueless, and that’s why he keeps voting for Tweedledee Democrat or Tweedledum Republican.
It’s really too bad, though. Thomas Jefferson was spot on when he wrote: “I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs.”
He also said that if we allow the bankers to run roughshod over the republic — er, excuse me, former republic — our “children will wake up homeless on the continent their fathers conquered.”
As for the latter, it is already coming true. “From Seattle to Athens, Ga., homeless advocacy groups and city agencies are reporting the most visible rise in homeless encampments in a generation,” reports MSNBC. “Nearly 61 percent of local and state homeless coalitions say they’ve experienced a rise in homelessness since the foreclosure crisis began in 2007, according to a report by the National Coalition for the Homeless. The group says the problem has worsened since the report’s release in April, with foreclosures mounting, gas and food prices rising and the job market tightening.”
It’s past time to storm the castle, that is to say the whorehouse in the district of criminals. Unfortunately, far too many Americans are clueless about what is happening to them and even if they had an inkling they’d be hard pressed to find the district on
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