I am a conservative, when it comes to government, and not necessarily a republican. The republican machine is fighting any kind of bank regulations. This would be a step in the wrong direction. The middle and working class must have protection from the money hogs and their institutions. This is a tedious read but it clearly shows what happens when the TRUTH is hidden and banks have the opportunity to manipulate for their own benefit. The FOX in charge of the HENHOUSE could not fit more approiately than in this scenario. We as individuals must educate ourselves out of the shallows from which we have been led.
http://www.bloomberg.com/apps/news?pid=20601087&sid=ax3yON_uNe7I
from the bloomberg website. Click on link and please read. (at least part of it)
So very true Glen, those who have the power have used their influence to manipulate and feed fear and propaganda to the public, they can use elected officials to their own benifit and congress are only puppets in their plan for more and more profits. Not only have banks been hijacked but health care as well. Those at the top of these companies have so much and through their greed want even more. The poor fisherman, farmer just our everyday people have long been forgoten and not cared for. I respect your views, it matters not to me if you are liberal or conservative....what I love about you is that you care and are concerned for all Americans. I can only appreciate your concern for your country and all people who are blessed to be live there.....:-) Hugs
ReplyDeleteThanks Glenn. I'm with you on this issue. Most of the detail in this article is way over my head. But I do know that a big part of it was that there were bad loans made to people that couldn't pay them back. Then these toxic notes were bundled into "packages" that were sold and traded as growth assets all over the world. This gets so complex and convoluted that it's almost impossible for the average person (like me) to understand just how diabolical it all was. Years of easy credit made all of us greedy and easy marks for the wheeler dealers. I'm not sure how to regulate all this. But we sure need to figure something out.
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