Singin’ the Bail-out blues…

..except nothing that ugly could possibly be put to music..

There’s a massive effort from the Far Right to blame the Liberals, blame the Working poor (whispered rumors are that it’s those MINORITIES) when the evidence has been staring us right in the face for all this time.

Infomercials on how to Get Rich Without Trying filled the late-night, early morning TeeVee…

The loans that were defaulted, turns out that not only most but the Vast Majority of them were to people who were speculating.

Not people who were buying homes to actually, you know, LIVE in them.

The “Flip that house” show is still on HGTV…

Buy a house at a flexible rate, wait while the real estate value goes up, then sell it at a profit.

The Infomercials promised that you could do this with “little or even NO money down! How could you possibly lose?”

Buy a house with no money, sell it a week later, pay off the balance of your mortgage and use the rest as paper collateral, “Cash Instrument” on another loan, preferably two, and do the same thing over again.

“How could you possibly lose?”

ummm… maybe by following the instructions, yeah, that’s a fast way to lose.

NOW, How Much Would You Pay? BUT WAIT! THERE’S MORE!

these “Cash Instruments” essentially a post-dated check backed by an extremely ætherial government guarantee of payment…

then get used as collateral for secondary and tertiary levels of loans.

Now, the Republican-controlled Congress, (until January 07), top heavy with Harvard MBAs and even Doctorates in Economics, and of course the Investment Banks and the Brokerage Houses, for some reason now they’re saying they’re the victims, that none of them had the experience or the intellect to spot a Pyramid Scam in the works.

Especially not when given a 15 year head start on spotting it.

They say they were forced to give loans to Poor Risk (meaning: underpaid Minorities) customers, but neglect to mention that most of those owner-occupant houses didn’t default.

They also weren’t “required by Federal Law” to push the bank guarantees off onto the Speculators, in fact, they seem to be complicit in those crimes.

And all these Financial Experts, especially those in Congress, like McCain, have had their Corporate Sponsors spend Large Money telling us how vigilant they were over our economy…

WELL, DUH!!

So the most they can claim is Not Guilty By Reason of Massive Incompetence.

But they come, not hat in hand, not humbly, but Arrogantly, demanding that we pay their bills, with no questions and no oversight.

Because, so they say, they’re the only ones who have the competence and experience to do it.

my yass.

We’ve just experienced the full measure of their “Competence”

Then there’s the little matter of that Federal Insurance on the mortgages.

It wasn’t there. Why was that insurance not there?

Two Words: Eye Rack.

Seems Mr Bush, whose Grandpoppy, Poppy and brothers are all Bankers, has had a little Fancy Finance Finagling going on to “pay” the bills on that mess.

It makes the Treasonous Actions of Reagan, North, Poindexter Bush Sr Secord and Casey look like a trial run.

Which essentially it was.

This time instead of funding the Cuba Libre, the Contras, the Medellin Cartel, the Taliban, Hizbollah and al Qa’eda, it goes directly into the American Taliban in other words BlackWater, Halliburton and other more highly organized Terrorist Groups.

But they’re going to blame the entire collapse on a relative handful of low-budget homeowners.

Eat the Rich.

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Brother Jonah

About Brother Jonah

Recovering Texan. Christian while and at the same time Anarchist. (like Tolstoy only without the beard, for now) Constantly on the lookout for things which have relevance to things I already know. Autistic. Proud to be Ex- air force. Out of the killing machine for 27 years 4 months and 5 days woohoo!
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