I understand that such legislation as Glass-Steagall (1 & 2, 1932-33 respectively), FDIC established and regulations implimented such as12 U.S.C. 371a
by Reg. Q; 12 CFR part 217, were to control deflation; speculation; blah blah...,
But with the Depository Institutions Deregulation and Monetary Control Act - (1980) and Gramm-Leach-Bliley Act - (1999), The 1987 CRS argument
notwithstanding, pretty much blew a hole wide open for speculation, and of course the "exotic" or by another name, "toxic" securities, CDO's
SIV's, insured and sold as "Low-Risk" AAA rated "bundles"; Almost like a bundle of seasoned firewood, i.e. - burns slow, creates intense heat as
the embers, or "Bubble" radiate to all present, then, not-so-slowly die leaving behind soot and ash, "Bubble Burst", as the pyramid ponsi scheme
top rung profiteers high-tail it from the crime scene, knowing all-the-while, the ARMs and more "exotic" instruments and doctored applications are
cookie cut, assembly line style with creative abridgments as "NINJA" and as the Regulators blind-eye their mandates, and few Hedge funds are
cherry-picked, the sub-prime bubble explodes and with regulations gone or ignored, toxic derivatives, which are heavily wagered deplete the insurers
(yes they too have creative abridged acronyms), and the 100% loans and second mortgages to cover the down payments mature, ballooning the variable
rates to an unmanagable higher rate begin a default-fest in homes.
Ninja, Arm or other, the rats scramble as another ponzi scheme unfolds....TARP.
Against constituents overwhelming objection, the spineless congress succumbs to the whims of the Treasury, run by ex-CEO's and FED officers who in
any definition are conflicted with interests in the same criminal organizations that financially raped the private investments which, once secure,
were now being accessed and tossed into high-risk speculative stocks, and suprisingly, when the losses mounted, not a soul went head hunting for the
perpetrators of this S&L to the 1000th Power of a theft. As if this wasn't enough, the whole Coven of warlocks and their kind in a frenzy akin to a
shark feeding feverishly once tasting fresh blood, attacked and did pilfer the Treasury with repercussions consistent at a staggering 0%.
As the now funded TARP was granted to Treasury Sec. Paulsion, the lack of specification allowed once again these birds of a feather to allocate
billions, (although we know trillions) to their counterparts domestic and abroad, as the sub-prime default smowball increased exponentially, now
including other lower risk loans because as this monster accelerates, it takes Jobs and ultimately more homes with it, back to the lenders and away
from the herd, leaving the financial criminal elements, (which are legion), with the cash and the properties, and the now defunked home owners with a
tent in a church parking lot or under an overpass.
All of this aside; the rewarding failure on a massive scale never before seen, the disregard of regulators, Attorney's General and the FED - Treasury
- Administration trinity taking RECO and urinating on it with visions that it were the Constitution, excitedly admired the gold and platinum
toiletries glistening before them, and with a shake of finality, went a-banking offshore, and readied the now despaired populus for the second bailout
and the second coming of crist in the form of an usurper, meticulously groomed for the task of leading the stubborn U.S. to the cliff of sovereign
surrender, is not an issue I care to address.
Rather, none of this treachery ruffles my feathers in comparison to the one point, and fault of these God-Complexed self adoring psychopaths.
What gets me is, well here's a snippet...
There are a lot of people hurting. It is sad to watch retired people, or people close to retirement, lose 40 or 50% of their 401(k) plan's asset
value in one year. They will never be able to make that back up.
Read more at: www.huffingtonpost.com...
Now you see, these vermin did this to the majority of Americans, and as I have discovered through a bit more reading, the Canadians as well...I'm
sure pretty much world wide,
ANd here is my beef.
These cur-throat thieves stole half of MY MOTHER's nest-egg, (as well as many others I know), and now, it's personal.
Any punk-ass Beeyatch that comes and steals half of my mothers retirement now needs to explain to me why I should not come and throw them into the
sticker bushes and shake them upside down until the missing funds are rightfully returned.
I know one little bull like me can't get an even shake or get one of these back stabbers to man up and address me face to face, so I am left with no
alternative than to begin my one-man campaign of contacting the representatives that abandonded rightousness for special interest funders and drop
prostrate boot-licking their counterparts in Administrative and Judicial divisions of Government.
The Cap and Trade, Global Warming lie is another of an ongoing compulsion of these chronic liars, and I'm sure they won't be happy until they
destroy this country, it's inhabitants along with themselves in their never-ending quest for integrity and common sense.
Thanks for listening,
I'm off to start my list of phone numbers and addresses to contact my Senators, Representatives and POTUS, et al.