All true. On Mar 17, 4:49 pm, "M. Johnson" <micha...@america.net> wrote: > The all but TOTAL government control of banks in America has > existed since the very EARLY 1900s. The (unconstitutional) political > tool -- the FED -- was foisted upon us in 1913. The New Deal (actually > the second one -- FDRs) gave of Fannie Mae and a myriad of other > fascist policies that remain in place ... the Congress subsequently > gave us Freddie Mac. In the 1970s the government gave us something > known as the Community Investment Act. Subsequent congresses gave > us changes and enhancements .... > > What basically occurred is the government FORCED lenders to give > money (printed by the FED) to people and projects that would not > otherwise be funded ... they PROMISED to then purchase those > loan instruments ... they then packaged and guaranteed them. As > is typical with these interventions ... the whole thing came tumbling > down -- only the government has continued to try and 'shore up' > their catastrophe which serves only to delay and increase the magnitude > of the problem when it actually hits full force. > > Regard$, > --MJ > > "We have to pass the bill so that you can find out what is in it, > away from the fog of the controversy." -- House Speaker Nancy Pelosi > > At 04:02 PM 3/17/2010, you wrote: > > >ho, ho...if you are referring to Barney Frank while the repugs had > >control of both houses and the presidency, you must debate only with > >your self or a self absorbed group of wingnuts ...nothing to do with > >credit default swaps, or that Wells Fargo and others had Wall Street > >accept their risk..and then in turn we had to bail them out or have > >the credit markets lock? Zippy, you had better return to the economic > >romper room, you are out of your league if you want to debate why and > >what happened in the fall of 2008. ....rule one, no making crap up, > >rule 2, all aspects are considered, not just cherry picked ones...I > >will even give you that Clinton signed the repeal of Glass Steagall > >just to give you leg up.
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