Good afternoon Curious, its, highroad, others!
All these are great points and still--- more that we Americans have to deal with and hope to move on about. If history has shown us Americans one thing , it's that we JUST CANNOT trust politicians and the great "GREEN WAVE" most of them ride. Pelosi had my support in the beginning, Reid, and SO did Reagan and Bush, Bush and Quayle, Clinton and Gore, and Bush and ----well you get the picture. This financial CATASTROPHE was steeped in bi-partisan failure, greed, and (power grabbing) as far back as Nixon, but didn't get it's HEART until the 2000 Omnibus budget was passed just a few weeks before Bush took office under Clinton. A budget bill that had to be signed or the gov. would have been shut down. Where Phil Gramm clandestinely slipped his 262 page banking and trade deregulation bill, that less than six senators read, (including clinton) that set this financial coffin into construction with further subsequent deregulating nails- for this coffin, since 2000. These are not insignificant and are no longer suspect causes, they are IN FACT the root cause. Read up on the 1-(Phil Gramm, Leach, Bliley act) 2-AND most devastating, with Clinton pressed to sign the $384 Billion budget on Dec. 15, 2000(Commodity Futures Modernization Act). All aboard the financial deregulation train, First stop! ENRON! Good bye depression era regulations that helped keep America afloat since the 40's.
Look folks, this isn't as tough as it looks. It's really quite simple and makes us all look like fools sitting around chit chatting and arguing over who the hell did what, While all these fatcat liars and thieves have gotten clean away with screwing America. And in the long run, who do we blame? Each other. The Sanchez family, the Smiths, the Browns, and the rest of us poor unsuspecting tax payers- who were happy to be able to afford a home, and THAT my friends, was due to the fact that they were deemed solvent by the lender. Then rates climbed, EVERYTHING Doubled in price, jobs were cut EVERYWHERE since the rapid passing of all the free trade deals. Then us Americans who one day could afford their new home then, now could not. This did not happen over night, it happened over a decade. Thusly too, we seem to forget that BOTH parties sat back and let it happen.
Now you can call me some ranting geriatric fool, but please trust me here, ECONOMICS is, was, and always will be my one true love. THIS MESS rests in the hands of a small collective who knew exactly what they were doing and today, are super rich and powerful, since being nothing but lobbyists for our energy and financial giants, while we get poorer and finger point to our chagrin. Besides, the majority of the losses were not from the Sanchez, Smith and Browns, it came from the investment speculators, contracting companies and mega corporate builders who develop multi billion dollar projects that they hoped will pay off BIG once they sold them to who?--------You, me, Sanchez, Smith, and the Brown families. I'm sorry to have to point out what should be obvious here, but it was the major traders, major investors who counted on US to buy their condos and gated community dwellings, office spaces and mansions in the hills, that have set up the greatest losses in this financial avalanche. I feel badly for anyone who bought into the dream this past decade, but can we please stop blaming each other, when in fact it was those who don't care at all about America any longer, but what they could get as fast as they could get it, then they got outta Dodge. Where's Phil Gramm now? Oh-----he's in Switzerland rolling in piles of gold handed to him by U.B.S. after he lobbied hard for all that secret? deregulation. I do understand all this frustration, BUT-----the poor working stiffs of America are the victims---- not the culprits.
Research.
God Bless.
