subject: Are you also perplexed by the home loan crisis today? [print this page] Are you also perplexed by the home loan crisis today?
Are you confused about mortgages? Good. At least you know you are confused. The world economy has collapsed. Much of the world lays the blame for the collapse at the feet of greedy Americans. While this is patently unfair (who's not happy to sell us crap?), it is true that three American parties do share the blame. The first two are those who bought homes they couldn't afford and those who gave them mortgages. Of these, the most dangerous and most responsible party, the Federal Reserve Bank, is also the malefactor fingered the least.The Federal Reserve is the party most responsible for destroying the global economy. This private corporation, charged by Congress with managing our money supply, cannot be trusted. Did you see Jon Stewart hammer Jim Cramer, the host of CNBC's Mad Money, on who did this? Well, the answer is, the Federal Reserve Bank did it. President Barack Obama's failure to replace Ben Bernake at Treasury and the failure of Congress to set about replacing the Federal Reserve Banking System are unconscionable.Mortgage brokers concocted obtuse mortgage contracts and then began shilling subprime loans to unqualified buyers. They dit it in a way that would make the most hardened magazine subscription telephone sales person squirm.When the FRB raised the ratio it flooded the market with more money, which went out in loans to unqualified buyers which were then bundled as the infamous 'asset backed paper.'. An other word for a so called toxic asses is a liability. And that's what the governement is buying. The government is effectively using your money to buy these liabilities named toxic assets.Finally, the people who sit and tell CNN cameras that they didn't know that they had an adjustable rate mortgage are simply too stupid to own a home. I know that's harsh, but it is the truth. Pity them, yes. Bail them out? Not a chance.I used a translation tool for geld lenen zonder bkr toetsing
