Friday, March 11, 2011

change gone come...,

Video - No more Fannie or Freddie propping up homeownership.

RT | It’s not just the US middle class that’s going to feel it. Foreign countries all over the world hold billions upon billions of US home mortgages in their portfolios. Doing away with Fannie and Freddie could amount to massive losses for these investors, and for US clout. Especially when you consider economists said shoring up foreign investment was a major reason for Fannie and Freddie’s bailout in the first place.But America appears unable to afford another option in the face of such massive failure.

“I believe the banks were making bad loans,” Sontra said from her experience. “I think it was just greed.”

“Fannie and Freddie got out of control took ridiculous amounts of risks which didn’t properly disclose to regulators or investors who were slammed by misadventure,” explained Wolff.

A misadventure coming at the cost of the American Dream that so many Americans and that the world, bought into.

Author and journalist David DeGraw said both Freddie Mac and Fannie Mae brought the system down through flawed policies, but they did not do it alone.

“Let’s talk about unwinding the people who caused this problem; Bank of America, Goldman Sachs, JP Moran, how come were not talking about winding them down?” asked DeGraw. “These are fraudulent institutions that exploded the housing market.”

He argued Wall Street is a “mafia racket” of legalized political bribery controlling the US legislature.

“The criminals have taken over. They are obviously above the law,” DeGraw comments. “These are the people that have to have their assets frozen and we can recoup the money that way. One tenth of the US population has robbed everyone blind.”

Americans simply are unaware of the magnitude how much money and wealth has been stolen by such a small version of the population, if the people knew, Egypt style revolt would sweep across the US, he argued.


nanakwame said...
The Original Crime Family

Well Doc what happened after them? And my man Jeremy Iron, going to watch and review these times
The waters are kicking ass, while other places become dry, hmmmm

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