People have become so hung up pointing the finger at each other for causing the world economic crisis, that they have got many of us thinking that the worsening depression was started by Wall Street, the Democrats or the Republicans, the Illuminati, or perhaps just a bunch of irresponsible folks who got liar’s loans.
We’ve all been so lulled into confusion, amidst a myriad of important issues on TV about health care, same sex marriage, abortion, education, war, taxes, and even a possible pandemic viral outbreak, that we hardly realize what just happened to us.
Private Property Rights, Real Estate Law, Liberty and Democracy now on the line
What we are facing today isn’t about the political philosophies of the Democrats or Republicans, or Conservatives vs. Liberals, or the left versus the right. It’s about up or down, and sink or swim for our Constitutional Republic, and the fragile Democracy it continually endeavors to regenerate.
It's about government corruption, and the perks and campaign contributions that control our legislators in Congress, rendering them helpless when they could have otherwise averted this mess. And it’s about the fact that when legislators retire from office they are taken care of by those same contributors.
And we can follow the money trail at: opensecrets.org
Look at the Chairman of the Federal Reserve, for instance, who is always picked by the president of the United States from a list of three supplied from the largest banks, Bank of America, J.P.Morgan Chase, Citigroup, Wells Fargo and Goldman Sachs. Chairman Bernanke got away, under the flag of fighting inflation, with raising interest rates 11 times in 2007… eleven times. Yes, Chairman Bernanke raised interest rates 11 times in 2007, even as the secondary market was choking on the bogus "Triple A" rated paper that was being regurgitated back upon its originators because it really wasn't "Triple A" and had 15% delinquency rates from the moment investors around the world in places like China, France, Spain, Germany, Ireland and Greece purchased it from American and British brokerages.
All the Federal Reserve and the banks who control it had to do, in order to preserve taxpayer's ability to make their mortgage payments, and thereby avoid the largest economic crisis in the history of the world, was to lower interest rates. And that wouldn't have cost the government or the taxpayer anything. Then why didn't they do it? I could be mistaken, but it appears the banks behind the Federal Reserve didn't do it because there was more money to be made within a well connected little circle, from a collapse.
I’m often dumbfounded when I look around at the many elected officials at large in this country. In fact, they have everlastingly remained a source of personal wonderment as to how they ever got elected in the first place. But now, I finally realize they got elected with money from selling their souls to the banks and the corporations that run the world.
Well, I would like to offer you my services. If I were ever fortunate enough to be elected to the State Senate or Congress here in California, I would behave differently.
- I'd lie, and vote on things that stink, just like all the rest of ‘em.
- Well maybe not number 1, but I would do everything else I have to do to stay in office, just so I can hang in there long enough to get the few things done that I promise you I will do.
- I would find alternative arrangements to diffuse the incredible conflicts of interest and corruption under which our system at every level has enslaved all of us, whether we are all aware of it yet or not.
- I will fight for public financing of political campaigns, term limits on professional politicians, and the restoration of the right of our attorney general to defend consumers from banks.
Office of the Comptroller of the Currency should stick to performing accounting
You see, in recent times, the venerable Office of the Comptroller of the Currency that was originally established for the purpose of supervising the accounting of all national banks and agencies of foreign banks, has been instead asserting total jurisdiction, pursuant to the opinion of our Federal Government and their masters at the central banks, over State Attorneys General with regard to legal actions against bankers and national banks. So I’d have to fight to restore the right of States Attorneys General to defend the rights of their consumers against national and international banks doing business within their states.
And now here cometh the fear mongering we have all grown to know and love: If these kinds of changes aren't made, we are headed into further loss of Liberty and disillusionment of the human spirit. People will think it's smart to become even less ethical in their dealings with others, and this current crisis will flare up again, only worse. And when nations distrust one another and trade across borders becomes disrupted, then it will not be long before armies cross them.
Instead of rushing in to burn the taxpayers and their children’s children for trillions of new dollars to prop up the lifestyles of corporate folks, what we should have done first, was to find a way to make whole the investors in America and around the world that our banks damaged with these bogus AAA pools of mortgages in the first place.
America wouldn’t have to admit fault, because it's not our nation that is at fault, it's the financial lobbies that bullied our government into it. We simply need to show our economic partners that we have the character to stand behind the things we export. Even bad loans.
The Secondary Market, the engine of the American economy, gutted by central banks
If Conrgess and the President were not living in some kind of parallel universre, or if they just had the political guts to compensate the national and international investors that were deceptively sold bogus Triple A mortgage backed securities by their masters at the central banks, then that kind of trustworthiness would do a lot more to revive the Secondary Market and get bank lending and the world housing crisis under control, than squandering our children’s fiscal future to bail out those responsible for the crisis, thereby encouraging them to keep up to their old tricks.
A couple of years ago I registered to run for a seat in my district. I had paid the fee, but then they told me somebody dropped the ball and it was too late to be on the ballot. Unbelievable isn't it?
If I'd had known how things were going to be right now, I would have made a bigger deal about it then. But I didn't think I had much chance, not being rich, and there are plenty of other guys out there who could do as good or better a job.
It just seems as though there aren't enough of them in Washington D.C.
How Derivatives, Collateralized Debt Obligations and Credit Default Swaps crushed the economy Part 1
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