September 09, 2008

OK, tin foil hatters, give me the conspiracy theory. Who was behind the housing bubble and crash, and what did they hope to achieve?


71 comments:

Agent 99 said...

You don't need a tin foil hat for this one. (Although it's always a good idea to have one handy.):

Fannie, Freddie spent $200M to buy influence

http://www.politico.com/news/stories/0708/11781.html

The lobbyists are like a cancer. Say, why is lobbying legal anyway?

Keith Swanson said...

I think it was the Chinese after the 1997 Asian currency crash.They knew the way to bring America down was to feed our greed. They kept feeding us cheap goods and cheap money, something we could not resist,until we choked on debt and ruined our economy and destroyed our industrial infrastructure.They couldn't defeat us, so they let our pride and greed do it.

Afterthought said...

This one is easy,

the Right Wing wants to destroy the society created by Jefferson and Jackson and replace it with the society created by the Medicis (the powerful banking family of the Italian Renaissance that bought its way into the monarchical families of Europe).

Free men will be reduced to serfs, rational government and science will be replaced with mysticism, yet this time there is no where for humanity to escape to.

Do you think we will be airlifting patriots into space any time soon?

No, these people want a New Dark Age.

Anyone who says less is a coward and a fool.

jazzmanferg said...

The US government. This was their plan all along.

http://www.msnbc.msn.com/id/26607308/

Now we have to beg the government for a place to live.

What is next. Nationalize agriculture so we have to beg our benevolant tyrants for food.

Anonymous said...

The government was behind this. This was proved when Bush signed the bailout bill. No bank would ever make the loans they did, unless they knew (KNEW) they wouldn't be left holding the bag.

Why? I don't know. I don't think we are a stronger country because of it, but we do have fewer freedoms.

Anonymous said...

PNAC. That's about it.

Bob Reno said...

OPEC was behind it . . . and here's the reason:

They are running out of oil and they know it. When the oil is gone the US will nuke them back to the Stone Age. If they can cool the US economy (and by association the World's economy) they can prolong the time they have to dictate to the rest of the us.

Or Dick Cheney. Just sayin'.

GK said...

http://iamthewitness.com/books/Archibald.Maule.Ramsay/The.Nameless.War.pdf


"Gold was soon to become the basis of loans, ten times the size of the amount deposited. In other words, 100 pounds in gold would be legal security for 1,000 pounds of loan; at 3% therefore 100 pounds in gold could earn 30 pounds interest annually with no more trouble to the lender than the keeping of a few ledger entries.
The owner of 100 pounds of land, however, still must work every hour of daylight in order to make perhaps 4%. The end of the process must only be a matter of time. The
moneylenders must become millionaires; those who own and work the land, the Englishman and the Scotsman, must be ruined. The process has continued inexorably
till now, when it is nearly completed.


http://www.webofdebt.com/articles/take_a_load_off_fannie.php

" In the first half of the 18th century, the province of Pennsylvania completely funded its government without taxes or debt, through a publicly-owned bank that issued paper currency and lent it to farmers. The bank did not have to borrow capital before it made loans; it just created the currency on a printing press. The money was lent rather than spent into the economy, so it came back to the government in a circular flow, avoiding inflation; and interest on the loans was sufficient to fund the government’s operations without taxation. Such a public bank today could solve not only the housing crisis but a number of other pressing problems, including the infrastructure crisis and the energy crisis"

http://www.geocities.com/jussaymoe/dc_symbolism/


http://www.amazon.com/exec/obidos/ASIN/193000446X/ref=nosim/cryptogoncom-20

Anonymous said...

Its no conspiracy. The tech bubble and crash, the housing bubble and crash, and the coming commodities and dow bubble and crash, are the manifestations of the desire of the educated, well-to-do, investment savy, internet reading, materialists that control the politics/economics of the United States. The conscious desire of the upper, middle and lower-middle classes is for things to remain the way they are, for them to remain in what they perceive as a privileged, undeserved state; where goods are cheap, hours at work are minimal, and retirement is secured. It is this group who have the resources to invest and profit from bubbles and cheap foreign labor, and who are primarily the king makers, as they control the majority of the media, advertising, and registered voters. We may feign indignity and take the high moral road in our interviews on NPR when discussing the exorbitant pay of CEOs, the economic disparity between the rich and the poor, the casualties of war, the suffering ecosystem, etc., but internally we turn our eyes away, and resign ourselves to believe it is a small price to pay for affordable gasoline, a safe neighborhood for our children, and that vacation to Switzerland to get away from the jobs we hate, etc.. It is that we know no other way and are fearful that to try to find another way will end in ruin. And so we convince ourselves that we vote for John McCain because he will cut spending and make the country safer from terrorists or for unborn babies, but really what we mean to say is that we hope he will continue the same policies (keep borrowing from China and future generations and subsidizing corporate greed) as those before him if thats what it takes for the rich to get richer, or at least not poorer. We do need change in Washington like Mr. Obama says, but we need it more in the hearts and minds of our fellow Americans. We need to believe in our futures.

michael said...

china.

world domination.

Anonymous said...

The goal was to reduce the standard of living in the US. There has been an attack on the wealth in this country for the past 30 years.

From naked shorting to fraudulent inducement with housing, to taxes and inflation, to stagnant wages.

Oh, the tinfoil part comes from the Rockefeller and Rothchild families who answer to the Vatican and Thule societies.

"You have no choice, you have owners. They own you". - George Carlin

I eat bush said...

bin laden and his cronies.They want to ruin us.

Anonymous said...

30 year fixed mortgages are down to 5.7% from 6.4% last week. Kiss your housing panic good bye Qwwferino. At those rates it is cheaper to buy than rent for most people.

Your Jewish Master said...

Ummm, Hellloo....

The Jews, of course.

And, you're welcome!

pwnd said...

bushco

Anonymous said...

.









Keith,

This is part of the New World Order.

RayNLA

consultant said...

Corporate terrorists (i.e. Angello Mozillo).

They hoped to have the age old dream of riches beyond compare.

What about America? They (the corporate terrorists) said, "f#ck America!"

Anonymous said...

It's all about destroying the middle class and bringing the US into economic parity with Mexico and Canada to form the North American Union according to the "conspiracy theorists".

Anonymous said...

Globalism means that everyone becomes equal... which basically means that the minority rich countries need to get extremely poor, while the majority poor countries get slightly richer (ie most will actually be able to feed themselves).

This housing boom/bust was an easy way to bring most Americans into the poor house... and what better way than to use greed to do it. Now they're poor AND they feel guilty about it - so they wont revolt because they feel they deserve going to the poor house.

Sheer and utter genius.

Anonymous said...

ok I'll bite
if you look at history then the easiest way for a dictator to sweep into power is to use a disastrous economic collapse to his advantage.
we haven't even started to feel the real pain of this crash, but when we do it's gonna get ugly.
next thing you know we're gonna get some charismatic figure, all draped up in the flag, a gun in one hand and a bible in the other, promising to restore America to her former glory and "get back at *them* for what they did to us"

the popular slogan at this year's RNC was "America First"
does "Deutschland uber Ales" ring a bell?

Anonymous said...

Oh, that's easy. It's a conspiracy between the evil bankers and the corporations. The evil bankers are hooking us all in with easy credit they know we can't pay back. In the meantime, corporations are paying lobbyists to make sure our gov't brings back debtors prisons. Once we're all incarcerated for going bankrupt, they can get us to work for them at slave labor rates, as prison laborers. It's all profit motive! Prisoners get paid far, far less than minimum wage.

NONE OF THE ABOVE said...

Politicians.

Federal ones - they get nice campaign cash from bankers, real estate companies, etc.

Local ones: higher home prices mean more money from property taxes. And yes, also more campaign contributions.

Anonymous said...

It's all Bush's fault. Isn't that always the answer for the Daily HP/Kos crowd?

Ron said...

Just like when I thought the Iraq war was about oil...wrong....it was about contracts and fleecing the American public. Don't believe me, just look at who made the money in Iraq and who they are friends with.

I thought this whole housing thing was a giant pyramid and scam, then I realized that the architects of it planned it like this. Who is to blame are the same people who are the architects of fleecing the American public (who deserve it). We elected them or let them scam their way into office and sat and whined, they stole from us we sat and whined and cried, they are now throwing the dinner tab on us and we continue to sit and whine and cry. The banks along with the Republican and Democrat help built this up to fail all the while knowing that they wouldn't go to jail nor would they have to pay back a dime.

Sad...but we deserve everything we get for being such terrible stewards of the American Republic. I seriously doubt people would give up what they gave up knowing how we would freely give away all that they fought and died for....might even of been better to be under British rule looking how things have gone...such a disgrace we all are.

Tangelo Mozilo said...

Who was behind it? Retail banks, investment banks, mortgage lenders, gov't at all levels, mortgage brokers, REALTORs(R), flippers, homedebtors using their debt traps as ATMS, various FBs, the Fed, and many others.

What were they hoping to achieve? $

It was not an organized conspiracy, but all were independently chasing the same goal, so the result was the same as a conspiracy.

Anonymous said...

Republicans wanted to produce more selling opportunities for Fatcats to unload inventory and employment for useless Realtors, Bankers, and Lawyers.

They achieved this by:

1. Changing tax law which encouraged people to flip houses every 2 years for tax free profit.

2. Off shoring industries which caused people to move from one job and one location to another and another chasing employment.

3. Ignoring immigration laws so that any peasant could come over and get a minimum wage job.

4. Deregulate banking so that above peasant could get 2 year interest only loan after which time said peasant would refi, flip, or foreclose.

The 2 year interest only liar loans ended about 1 year ago so obviously the market will hit bottom or at least be near bottom when those loans reset in August 2009.

Yes, you heard correct, The next 12 months will be the same as the passed 12 months with another 15% decline nationwide then prices will stay flat for years in a best case scenario. In a worst case scenario prices will drift downward for a decade like Japan and we will most definitely have the worst case scenario happen if McCain is elected.

Mr. TinFoil

mensajd said...

No conspiracy required. Refer to Hanlon's Razor and Occam's Razor:

(i) Never attribute to malice that which is adequately explained by stupidity.

(ii) Numquam ponenda est pluralitas sine necessitate.
[Translation: Do not assume more variables than necessary.]

Anonymous said...

I don't have any entertaining theories for you, but Nouriel Roubini posted some fairly trenchant comments today on who's to blame.

Anonymous said...

Massive Land Grab.

Anonymous said...

The light bringer, of course.

Daniel said...

Bankers and the Preferred-Stock-Holders of financial institutions (the mega-rich) were behind it of course. They engineered the bubble to make vast sums trading financial stocks. By lowering lending standards they were able to issue more mortgages in order to inflate their numbers. This of course resulting in an increase in stock value.

They didn't really want the crash, but they knew it was inevitable. So, they decided to take advantage of it by convinceing the government to hand over it's tax revenues to them to "keep the economy stable". That way they didn't need to time the crash and sell their shares just before it happened, they just had to wait for it in due time -- all the rewards with no risk.

corruption reigns said...

The housing bubble was engineered by the PTB to allow a temporary, credit-fueled, false perception of economic prosperity/nationalistic invincibility to enable continued political acceptance of the Zionist-sanctioned invasion of Iraq and the strategic influence it would place on OPEC to maintain petro-dollar exchange agreements, MIC purchase/supply contracts, oilfield service contracts, etc.

Rational Renter said...

Deregulation, globalization. So that would mean politicians and powerful (rich) businessmen. Enormous pools of capital being consolidated and then looking for new places to invest to earn a good return. Real Estate became the go-to option. Then energy and commodities. We just can't have this much centralized money floating around. It wreaks havoc.

Anonymous said...

http://www.youtube.com
/watch?v=o6ZHOxJLUGI

Anonymous said...

GREED - ALL SIDES

Europe is in worse shape said...

Since the 80’s Realtors have been evolving and fine tuning their sales techniques the NAR became a very efficient marketing machine, on top of that the emotions that are associated with a ‘HOME’ and fat commissions for doing nothing but showing people around.
they created a little demand that turned into a big (fake) demand.
And ofcourse natural greed of buyers and sellers.

With low inventory prices began to rise, this created what the newbie’s saw as excellent collateral and everyone else jumped on board from appraisers to Banks and Mortgage brokers.

I say this specifically because it WAS NOT THE FEDS LOW RATES.
TODAY ‘RATES ARE JUST AS LOW AND HOUSING WONT MOVE UNTIL THE PRICE GETS BACK TO NORMAL.

So Keefer in the end you are correct it was the REIC for the purpose of short term gains.

thingamajig said...

British PM Brown backs Obama because he'll fix the housing panic. Guess he's not an HPer, and consequently uninformed.

"In the electrifying US Presidential campaign, it is the Democrats who are generating the ideas to help people through more difficult times. To help prevent people from losing their home, Barack Obama has proposed a Foreclosure Prevention Fund to increase emergency pre-foreclosure counselling, and help families facing repossession."

Anonymous said...

The Elites who run the world are behind this. They hope to have the world in chaos to pave the way for the false savior.

rush 2112 said...

ITS A MASS CRIME OUT-OF-CONTROL!

Keith, I was sad to here that you're shutting down HP, but as of today, I'm writting my LAST blog.

Why? Our US Government is sooo out of control I cant take it anymore. The lies, the failures, the propaganda news networks, spins, failures, debts, cover-ups, elected officials turned crooks, murders, currupt FED agencies, etc.

Nobody can stop them, as we all have seen over the past 8-years. And what's even worse is that 50% of the Americans still believe the GOP-propaganda news networks that just make me sick.

I need to get away from the madness and find some new source of sanity and entertainment. Many people know the truth, but the truth is no longer valid or good enough anymore.

And why even vote? We are doomed by the Palin/McCain Bush-Co GOP/Oil Military Industrial Complex (that made sure Hilliary or Ron Paul would not win in 2008) that is just about to destroy everything good the America has built (well they have almost done that to date) and will continue to domate Americans and the world by force, loss of freedoms and new laws for PNAC. Nobody can stop them now.

Anyway, thank you for the great wisdom and laughs Keith! I must be moving-on! Take care!

PS: Great pic of the GOP PALIN SHEEPLE and their tin foil hats!

frede said...

To become rich?

Or to devalue the US dollar?

Perhaps both. I don't expect Mozillo's money is still in USD.

Anonymous said...

"Ownership Society" George Bush et. al.

The goal was the consolation of wealth and ownership at the top.

Greenspan said we're in another Depression today. Who could have known?

Anonymous said...

The haterz, dood, itz the haterz, pissing on the dreams of 100 per cent Aumurikans like Casey Serrin.

Obviously the haterz are all Trotskyite commie pinkos who refuse to spend money to keep this great country afloat and are therefore furthering their plans for worldwide communist revolution.

Anonymous said...

The global housing collapse is just one more step in the journey toward the Biblically prophesied world government. The force behind the economic unrest is a spiritual phenomenon with a few key players who are unknowingly being the pawns to the in the evil. Are not lies now more common than truth in the statements of our government, press, and corporations? They are speaking fluently the language of the evil one. Do not be surprised if in the not too distant future a universal currency will be adopted around the world leading eventually to forcing individuals to take the mark of the beast --- or they can neither buy nor sell --- essentially those who walk righteously will die (and ultimately be redeemed later by God). These events will come sooner rather than later.
What is going on in housing, the corporate world, and our government is far more sinister than merely a few greedy, clever, and power hungry individuals. We are nearing the Biblical end in Revelation and what is going on orchestrated by the evil one himself. The only hope for individuals is to repent and turn to God.

Prisoner6 said...

It's financial shock-and-awe. It's shadowy power-brokers (Robert Ludlum style) who are looking for more control and consolidation of world affairs. Awhile back I reckon somebody "gamed out" a scenario whereby the largest bubble ever created pops and, in the ensuing panic, you present "solutions" to people which they gladly accept... solutions which also happen to assign you more control.

Anonymous said...

Alan Greenspan could have stopped this housing mess 10 years back. The Fed had the authority, Greenspan did not want to use it.

So I nominate Alan Greenspan, and the Libertarian New World Order. Look out middle class. They're out to destroy you.

FlyingMonkeyWarrior said...

The Coming Collapse of the Middle Class

January 31, 2008 (Less info)
Distinguished law scholar Elizabeth Warren teaches contract law, bankruptcy, and commercial law at Harvard Law School. She is an outspoken critic of America's credit economy, which she has linked to the continuing rise in bankruptcy among the middle-class.

http://uk.youtube.com/watch?v=akVL7QY
0S8A&feature=related

57 minute lecture, The Feds put us in dire financial peril. The banks separate us from our wealth.
A must see, imo.
FMW

ponzi victim said...

Keith -- TOO EASY!

Republicans were behind the housing bubble/implosion.

By forcing the soiled masses to taste the "ownership society", they sold them the fantasy that they were among the elite republican policies are designed to enrich. You too can be worth millions, and your heirs will benefit from eliminating the death tax (but never as much as Bush Co.).

Democrats want to make everyone equal, but you are better -- you are a ... wait for it .. Republican.

Ponzi Victim

Tinderbox nation said...

Human greed at all levels.

No conspiracy here. Just a bunch of pigs at the trough. From Suzanne and Trev Milton Consumerson at the bottom of the pyramid all the way up to the tan man and the hedgefund boyz at the top. Everyone bellied up to the feed bin and stuffed their fat jowly faces while the stuffin' was good.

Brian said...

Okay, I'll take a stab at it. I think the whole thing was planned from the beginning by that old hard money advocate--Alan Greenspan. He set up all the dominoes so they had to fall. He wants to destroy our hallucinatory financial system and replace it with a bedrock gold standard.

Yoski said...

Greed was behind the bubble. What did they hope to achieve!? To get rich quick of course!

Anonymous said...

I'm not sure this theory is so far off the mark.

A little skimpy on the who, but it matches rather well with observable reality on the why.

veritas_faust said...

What if there is no conspiracy?

Yes lunatics - Not the Masons, the Jews, the Rothchild family, nor the Bavarian Illuminati which has been inactive for 200+ years.

Not the Klan, the Catholics, the Pope, George Bush (either one), Cheney, Haliburton, Dubai World Inc., and NOT Michael Jackson.

I don't think its the Jehovah's witnesses or the Scientologists. Not T. Boone Pickens, H. Ross Perot or R. Kelly.

Frankly I think its just greed, plain and simple.

OK lunatic fringe ass clowns - tell me why I AM PART OF THE CONSPIRACY!

Synanon said...

Control.

Anonymous said...

old white people who already owned their homes and wanted to suck money out of the new arrivals (illegal immigrants)and any one else stupid enough to buy their 40 year old house at 2006 prices (they useta call em starter homes)and anyone who bought that they aren't building anymore land bullshit although New York (city)looks a little tight but do-able.

panicearly said...

Boom time and everyone was BBQing, it was time to get the war on..
Warmongers were the first to benefit.

From there on down just follow the money.

Anonymous said...

Simple,

They ad choice and they choose to let the American Republic become insolvent instead of the letting the global banking system fail on his own.
Now, the table is set for the last phase of the rise of a police state, next near you, a fashist dictatorship in america and a world war III.

Anonymous said...

It's the Christians, like
George Bush, who want to fulfill the prophecies foretold in Revelations. Society must collapse through war, disease, etc. before Jesus 2nd coming.

Anonymous said...

i am behind it all....and i did it because i could.

Anonymous said...

International banking.....nuff said.

Anonymous said...

http://www.realtor.org/about_nar/presidents_report/_podcast_archive/podcast_rpac_20080909

scum

Harmonica Jewinski said...

The Jews. World domination.

Glenna said...

Bush & Company. In effort to allow the rich (his supporters) to get richer chasing double-digit returns on their investments. It enriches the wealthy while making the middle-class distracted from the other problems in the world because they are bogged down in debt and beholden to their debtors. And heck the poor will be guaranteed to stay that way and signing up for the military in record numbers to fight Cheney's wars.

Joe said...

Alan "Easy Al" Greenspan took the rate to 1% and encouraged ARM's and derivatives. This money orgy has led to the destruction of all things paper. Mission accomplished!

Alan is back to his Ayn Rand roots and forced the world back onto the Gold standard.

Joe M.

housing bubble mind control said...

Who was behind the housing bubble?
Bankers, Bush Admin, Fed.

And Crash?
Deadbeat borrowers, realtors, brokers.

What did they hope to achieve?
Fortune beyond your wildest dreams.

Bankers got billion dollar parachutes.
Bushies get thiers too.
Greenspan gets million for book deal and name in headlines.
Joe 6 pack gets amazing paper gains.
Real estate clerks get 6% of eye-popping sale price.
Brokers get thier cut.

No grassy knoll, just ponzi scheme.

Edgar Alpo said...

other than collosal theft, mutant bonuses, bread and circuses, MIC ripoffs? Gee, i can only think of a few dozen reasons why the bush crime family would prefer bank fraud to all other forms of larceny and graft.

It was fun said...

I know who was behind the crash! It was US! The people who couldnt or didnt want to play in this stupid housing game!

Well I would like to think of it that way at least. Greed was behind it all. Like always greed wins and the politicians win. F the realtors lying to make their commisions. F the banks for giving to losers who couldnt pay. F the pols for not enforcing the laws.

Pure and simple greed created and destroyed the bubble. Looks like its time to change the name of the blog... PoliticianPanic... so dull now.

Anonymous said...

The devil made them do it .

Anonymous said...

How to destroy a Country Like the USA .

First take away the manufacturing based in that Country and start producing everything in slave labor countries . Not only will this
destroy jobs for Americans ,but the remaining producers locally will not be able to compete .


Allow the flood of slave labor foreign produced cheap goods into the USA without the proper import
tax to create a monopoly of cheap goods that no USA producers can compete with .This will serve to destroy millions of jobs for Americans .

Further start out-sourcing USA based jobs to other countries to save a few more bucks to do away with more jobs that Americans
could of had ,all in the name of having bigger profits for the Corporations .The wage money ends up getting spent in the foreign Country ,instead of American .That will destroy more jobs .

Allow illegal workers to further lower labor costs without any regard to the increased cost and strain of medical and other costs
that those illegals will cause in which the burden will be placed on taxpayers in America instead of the Corporations that will benefit by illegals .

Dole out a lot of easy credit to
Americans so they can have money to spend on Corporation products ,in spite of Americans not getting jobs from these Corporations .

Create inflation ,and increase cost of goods accordingly ,while not raising wages .Good for the bottom line of Corporations.

Increasingly take away health benefits and profit sharing and other employee benefits from Americans and make them pay for them themselves so Corporate profits can increase.

Have Big Business get the Politicians in their back pocket so they will pass laws that take away regulations on Big Business ,so the sheep can be fleeced easier .

Don't enforce the rules of law .

Start a PR campaign that globalism is good ,when its really for the purpose of taking advantage of
slave labor world wide and perhaps a ability to sell products world wide to increase the profits of the Corporations .

Tell the Americans that they need to compete with slave labor countries and fire people every three years so you can pay less . No loyalty ,just profits for the Corporations .Who cares if everyone is complaining about lack of service ,or complaining about not being able to understand the
foreign person that handles the service call .

Buy all your oil from foreign countries so you can transfer billions of dollars of wealth to other countries . Never even think of
becoming independent of foreign
energy suppliers .

Let China ,a commie Country ,buy your debt ,so they own you ,and allow America to be flooded with a monopoly of cheap slave labor produced products ,in which many are toxic from that Country .

Allow a oversupply of money to be invested in the USA from foreign
sources so the Wall Street money brokers can dream up a new bubble to put those excess funds into . Never control the money supply ,
Further sell out American assets to your enemies ,so they can call the shot on American policies .

Have the illusion that other countries don't hate America and
believe the lip service you get
from these countries .Further have the illusion that you can change other countries .

Do away with standards and dumb down America . Make consumption
the highest and most noble goal
of a people ,so they will buy products ,in spite of taking away jobs that allow Americans to buy products .

Have a main stream media that is beholding to the Advertisers of the Corporations ,therefore no chance of anything but bias reporting .

Have the Government bail out and take-over private loan companies like Freedie and Fannie ,who have billions in loan loss ,and further put the cost on the taxpayers backs ,instead of the real liable parties . Continue to deceive the public by telling them that F&F was a government insured entity ,when it wasn't . Try to hide that it was a communist act to take over these companies ,and receivership was more in order .

Crack the backs of the taxpayers in order to bail-out China and other investors in loans that have gone bad because of fraudulent underwriting because of the greed of Corporations .

Try to re-spike the housing boom and make home more expensive ,and start making dumb loans again using taxpayers money .

Create a great Obstruction of Justice by bailing out the gambling Corporations and the rich and charge the taxpayers ,and give the public no choice in the matter. Tell the public that Paulson worked the weekend and everything is going to be good and act like there wasn't other choices or options to a take-over.Never talk to much about the billions of dollars of debt to the taxpayer that you just set up by this takeover of liability on bad debt of Fannie and Freedie

Set up the situation that inflation will be the only course eventually and it will crack the back of most of the classes in America ,except the rich .

So it was the Corporations and big business ,Wall Street ,the Lenders,the real estate business that stood to gain by the sheep
going into debt to finance a piece of real estate that had a fake value .

The greed, fear and insecurity of the people made them go for the housing mania ,but the Corporations set them up .

So I would say that the Corporations gaining to much power ,without regulation ,after the Unions broke the backs of Corporations ,set the stage for a global labor market ,that will be the downfall of America ,unless its changed immediately .

Anonymous said...

NEVER ATTRIBUTE TO MALICE WHAT CAN BE EXPLAINED BY STUPIDITY.

Anonymous said...

The nerve for the Corporations to benefit from the housing boom and than wanting the taxpayers to pay for the loss on their greedy gamble .

Anonymous said...

I think it is clear that if one faction ,such as Big Business,gains
to much control over the policy making or politicians ,the self-interest of that group will take over the Country .