[escapee]

This collapse happened because of something deeper. On the surface, we all see that the housing bubble popped. But the question remains, why was there a bubble in the first place?

I'm no economist but my engineering/mathematical sense tells me there isn't enough real money / capital in the economy. Our money supply is effectively debt issued by the over-bloated lending industry. At some point in the future, the money supply in the economy has to contract violently because there isn't enough money to service the debt and interest. This is very evident now that virtually all companies have debt needed to be paid off and there isnt enough $$$ in the economy to move around. The winners of this debt base system will be the selected elite banks since there will be given life boat for the sake of financial stability. This is a perfect titanic situation whereby the too big to fail financial criminals were saved (Lifestyle maintained) and the too poor to save get sunken together with the ship (Eternal poverty). A perfect example of crony capitalism.

In 1920s, USA had a strong domestic and manufacturing economy with trade surplus. it didn't stop the debt/asset price bubble from popping and led to the great depression

The bankers/lenders created the problem by creating too much debt, and now they're given the power to fix the problem. The fox is still guarding the henhouse.


U.S. bank-fraud SYSTEMIC and INTENTIONAL – William Black

Black was blunt, and unequivocally harsh in his condemnation of all parties responsible for this crisis and (soon-to-be) scandal. In the process, he personally validated ALL of my own commentary on this subject.

When I referred to the U.S. financial sector as a “financial crime syndicate”, Black concurred entirely. He is convinced that this entire swindle was intentionally orchestrated by U.S. banksters – going all the way back to when Sir Alan Greenspan helped them begin to create the housing bubble.

In my reference to these Wall Street firms as “fraud factories”, Black concurred again. He states categorically that the entire business model of these companies centered on manufacturing fraud (and then paying themselves HUGE “bonuses” based on the phony “profits” of their crimes).

Naturally, Black was also able to provide some stunning, additional information on the “anatomy” of the world's largest fraud scheme. To start with, Black pointed out that back in 2004, the FBI announced there was an “epidemic of mortgage fraud” in the United States.


What was the response of the Bush regime to the FBI's announcement? Bush stripped the FBI of 80% of the white-collar experts who specialized in such crime. He sent them off after “terrorist” boogeymen, while the world's worst economic “terrorists” were engaged in a fraud scheme greater than EVERY other act of fraud in human history – combined.

Black refers to the (so-called) “credit rating” agencies, U.S. Treasury Secretary Paulson, and former New York Fed president (and now new Treasury Secretary) Geithner as fully complicit accomplices to this fraud.



He reviewed this campaign of fraud in detail. Black began by accusing all major U.S. banks of intentionally writing-up countless billions of dollars worth of knowingly fraudulent mortgages (“liar's loans”) - where the banks knew that these loans could never, possibly be repaid.


The securities fraudsters then knowingly packaged up these fraudulent loans, and took these “securities” to their accomplices: the “credit-rating” agencies. Contrary to their name, these companies never even attempted to evaluate the creditworthiness of these securities, before giving them “AAA” rubber-stamps.

TEA PARTY ? What about bankers' party ? ( IE: dumping bankers to the swimming pool )