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| BANKS and LIBERALS in CAHOOTS |
I think the Democrats and banks are working together (althought the banks probably don't have the slightest idea they 're being duped) to nationalize all the big banks. If you look at the sequence of events then the big picture becomes more and more apparent. First the great "community organizers", Obama and his horde of lawyers, goes after any bank that won't loan money to anyone of color who couldn't ordinarily ever qualify for any large loan and can't possibly pay extravagant mortages (or any mortage for that matter) calling them racists and forcing them to make the loans or go to court. Then when the banks go to the Congress for help they are told not to worry about the defaults because Fannie Mae and Freddie Mac will cover for them.
The next step is to get the banks to go to the people who are regularly making their payments and talk them into changing their fixed mortage rates into a cheaper but more risky adjustable rate. Then "presto chango" the Feds raise the interest rate causing the adjustable rates to sky-rocket which in turn makes it harder (maybe impossible) for even more people to make their payments and so they lose their homes. This causes a massive glut of available houses on the market which naturally causes the value of everyone else's home to decline dramaticly. Some of these houses being paid for are now not worth the money people still owe on them and so they start purposely defaulting on their loans which advances a further collapse in home value.
Now let's add to all of this Barney Frank, chairman of the House banking committee, and Chris Dodd, chairman of the Senate baning committee, completely ignoring warnings by experts of the on-coming bankruptcy of Fannie Mae and Freddie Mac. Don't get me wrong, I am fully aware that Barney and Chris are stupid but surely not that stupid. The predictable collapse occurs and then the federal government, who caused this problem in the first place, comes to the country's rescue saying, "don't worry, we will take over the banks". Well, go figure. MISSION ACCOMPLISHED!
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Posted by OKOFCOURSE on 2009-02-24 17:39:38 | Rating: | Views: 82
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