it wasn't your fault.

think back to circa late 2007/early 2008. what did you do to precipitate the 'financial crisis'.
did you stop paying your bills?
did you stop paying your taxes?
did your income suddenly go through the roof?
did you withdraw all your savings and deposit them abroad?
did your monetary stability suddenly implode spontaneously?

the answer to all of the above is no.
so what happened?
what happened is the greedy became greedier, the needy got needier.
because the repulsive financial elite created the 'crisis'.
do you think they're suffering now?
the waiting lists for supercars have never been longer.
the elite are still buying their toys.
they've never had it so good.

Unintended consequences ( or maybe intended ) of a home you can't afford forced on lenders, then bundled as investments, sold to investors wiping out millions of peoples savings. Then the government bailed out the filthy rich banks and stock brokers, leaving out the individuals who lost their life savings. Fanny Mae and Freddy Mac backed by taxpayer dollars. A liberal feel good program with terrible consequences. Barney Frank lied to Congress when called on it, he said Fanny Mae and Freddy Mac were financially stable. Oh they are fine just fine. He should be in an Iraqi prison. Oh wait. They would let him escape.

reply to post by RoScoLaz


I know who's fault it is.

reply to post by jimmiec


The mortgage crisis is really not the end all be all of the financial crisis, it was just the previous tool used by the big banks to steal money from the public. Before that it was the internet stock bubble. As each bubble pops a new ever larger bubble has been created to keep the ponzi scheme going.

The current phase is the Fed literally creating money then directly giving it to the banks through the purchase of their assets (more like worthless trash). There is nothing larger than this bubble and it can only exist as long as the US is deemed credit worthy - therefore when this one pops - and make no mistake it will soon, well the great depression will probably seem like the good ol days by comparison.

thank you all for your replies.
i wish i had more to offer than just a rant.

reply to post by proximo

I wholeheartedly agree.I'm old and lived a decent life. I don't have more than a couple more years to live anyway. I just fear for my kids. They have no clue. One is single and pregnant and seems to think everything will be ok. The other is married with no kids but planning one. I just see no future for them.

Paid my bills
Paid my taxes
My income went up about 1.5%, which was not enough as we got hit pretty continually with extra taxes, health levies and rises in the cost of insurance, petrol and countless others as the 'leaders' that are now running our country decided to bail out the very people who caused the problem in the first place.

I'm just grateful now that I didn't get a mortgage when the country was on a high and property was being sold for crazy prices.
I see enough people that are stuck with huge monthly mortgage payments on properties that, if they are lucky, are worth about 50% of what they paid for them.