Howdy
We have our bailout, everyone, left, right and center are disgusted and angry at seeing a trillion dollars vanish.
Economic life support will succeed for fail, global markets will swing wildly on fear and loathing of financial insolvency, only time will tell if this disaster will be resolved as public funds pour into financial institutions.
Even as the emergency aid begins to mitigate the damage, questions regarding how this occurred, and how to prevent further corruption, are the subject of formal inquiry.
Congress is grilling Lehman execs over shoveling millions in bonus compensation to corporate fat cats even while their leadership led their firm into receivership. That is great news, greedy, unprincipled people reaped millions in rewards and left the American taxpayer grievously wounded.
Hopefully, congress will call to account the Bush Administration officials who were supposed to oversee Wall Street. An alphabet soup of administration oversight agendies fiddled while our economy burned.
News reports lead us to believe there will be scores of examples of Wall Street execs feasting on commissions and bonuses from a hot market in worthless mortgage backed investment instruments, so the congressional focus on these executives is correct and will hopefully produce indictments, convictions, and learning we can apply to regulatory reform.
But that is only half of the picture. Private companies and their executive leadership acted in concert with congressional regulators, the market for bundled sub prime mortgages was artificial, deliberately contrived, and driven into the private sector by fannie mae and freddie mac in cooperation with barney frank and his house committee.
The house democrats, led by barney frank, working together with the executive leadership of fannie mae and freddie mac, acted deliberately to create the subprime market in order to promote home ownership by low income families.
Nice idea, except of course, when the government intervenes to create a market for mortgages to folks who can not afford the payments, the result as a trillion dollar fraud on We The People.
Wall Street execs who made bank on these fraudulent instruments should pay a price.
But who will call to account the scoundrels, first and foremost barney frank, who deliberately contrived a trillion dollar ripoff program to boost low income home ownership? These clowns are in charge of congressional oversight, who is going to call congressional criminals to account?
If there is no accountability for the rat bastards in congress who made this mess, the damage will only broaden and deepen without bounds.
Already, the same corrupt politicians who deliberately conspired in this trillion dollar fraud are writing legislation to enable bankruptcy court judges to pay off mortgages for homeowners who are unable to service their payments.
Are we going to stand by and watch the same political vermin who deliberately stole a trillion dollars from taxpayers in a subsidized housing scam treat the crisis as an opportunity to add trillions more by having Uncle Sam buy homes for everyone who can't afford to buy a house?
Apparently so. There are no oversight investigations into congressional corruption in our financial crisis, and legislation to have the US taxpayer buy homes for everyone who can't buy a house on their own is taking shape as we speak.
Worse, the same people who led us to disaster in congress, and in freddie mac and fannie mae, are the same folks running the obama campaign.
Not only does the biggest fraud in history go uninvestigated and unpunished, the perps have an excellent chance of winning control of the entire US federal government and compound the fraud with unlimited further damage.
In summary.
Wall Street crooks cleaned house on bad paper, and investigations are ongoing.
Washington crooks who deliberately created a market for fraud are not only getting off scott free, they are still in charge, writing legislation to further damage the American economy.
These criminals run the obama campaign, and their plans are much bigger than a trillion dollar fraud, they aspire to force the American taxpayer to pay for mortages for everyone who doesn't bother to build an income to pay a mortgage.
And finally, with democrats sponsoring this entire scandal, the biggest theft in human history, and with the democratic candidate up ten points in polls as a result of public disgust over this mess, one wonders if the entire fiasco isn't as deliberate in its political impact as it is on our pocket books.
WHERE'S THE COPS?
Democrats WON by defrauding taxpayers to purchase homes for folks who can;t afford to pay a mortgage.
Democrats WON by forcing a federal bailout, transferring a broad swath of the housing market from the private sector to the public.
Democrats WON by contriving a financial crisis to help their presidential candidate.
And democrats propose, in an obama administration with a democrat house and a democrat senate, to further the damage our liberty by forcing us to pay off the principal of every fraudulent loan they made.
Why do we have to stand by and watch while fraud becomes the law of the land?
Where's the accountability?
Where's the justice?
