by: Tom Dennen
“Give us Eight Hundred Billion Dollars by Next Week or we Shut Everything Down”
That shot was heard around a shocked world because our elected representatives ‘caved’ to the banksters and gave them our money.
How? They didn’t cave, they knew that the banks were selling “Troubled Assets” aka “Toxic Assets” to individuals, hedge funds, Topeka Kansas School Boards and anyone else, investments they knew would yield no return.
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The 2008 Bush-backed Sub Prime fraud crash was fueled by investment losses in Sub Prime mortgages sold to people whose only requirement for a loan was to be breathing… and the Bush administration not only knew that but politically murdered its most vociferous opponentm the governor of New York, Elliot Spitzer,
The banks were pooling toxic waste – mortgages signed by people with no jobs or income, maxed out credit card debt and who knows what else – into packages labelled “Mortgage-backed Securities”.
And not only that, but their friends in the Securities Exchange Commission allowed them to sell that ‘crap’ with a AAA-Rating to the unwary.
Caveat Emptor never kicked in because we TRUSTED the bankers running our country, and the rest of the west.
That Trust is gone now.
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Since 1913 we have trusted a private company called the Federal Reserve to handle our money.
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