100 Year Crash: How did we get here? What should we do now? What about the future?

biggest bank hiest of the 21st century

america needs to understand that if we do this,,america is not free anymore,,the constitution is dead,,socialism will rise from hell ,,and the freedom bell will never ring again,,the poor in the south will wage war,,and many will flee to canada and the netherlands,,,as a white man ,,i am an american untill this bill is passed,,the next day,,i am leaving for good,,,,damn you all to hell,,i swear on your bleeding asshole,,i denounce my citizenship,,and will never pay another dime to washington / wash-ing - a ton,,of lies!!

as i have stated at least 100 times in the last 2 years. this is just the beginning dont help any of these theiving idiots including the ding bats that bought what they couldnt afford. just ride the tsumi and we will survive.american people are great its the poloticions that suck.

Mikey...Take your $ 425 NOT $ 425,000 and invest in a new calculator !

There are lots of excuses for how we got here but the root cause the real reason is greed and dishonesty.
So middle class people take a reality check.
While the spin doctors had you all upset about that poor little welfare mother who was living hand to mouth and really needed your help. It was a smoke screen so you wouldn't notice how the powers that be were ripping you off.
This "bailout" is simply the most giantic case of corporate welfare this country has ever seen.
The problem is by the time this is done, many of the middleclass are going to down living hand to mouth with the welfare class.
How about work fare for wall street.
Tell the over paid CEOs to get a real job and put some honest people in charge.

First off, the real source of the problem is "greed", pure and simple. A quote from a movie starring Michael Douglas, entitled "Wall Street": "Greed, for lack of a better word, is good." This Oliver Stone film illustrates the culture that was created by those who were greedy, power-hungry individuals who wanted it all. They achieved this by using propoganda techniques to surreptitiously brainwash the masses into thinking that a sin was, in fact, a virtue. This technique was used to usurp both the power of the United States Federal Government and the good and just people it governs. We are now at the result of that attack on our country, and how they nearly took over the world. If nothing is done, then this will go on until the end of the world.

To counter this, we must beat them at their own game: Similar messages must be sent in a similar fashion, to reinforce the concept that "love of money is the root of all evil", outline the consequences and illuminate those who have been harmed; and they are all of us.

Centuries ago, the religious leaders hammered upon this concept in their teachings and services, even going so far as to label greed as a "deadly sin". While death is not always a certain result, the harm it caused makes it worthy of that label. To further reinforce the notion, these religious leaders gave their subordinates the power to punish physically anyone who evidenced their sin of greed; the subordinate crime of "usury" was often punished by having the offender put in a stockade.

In today's culture, we recognize that such a punishment is "cruel and unusual" and is forbidden by the Constitution. However, the other means of punishment is the one thing that will hit such a criminal where it hurts the most: In terms of loss of money and in terms of time lost while rotting in prison. These things do exist, but they are not serving as an adequate deterrent, since many are still committing the crime without one thought to the consequences.

Therefore, we must stop thinking of punishment as a deterrent (for this is a fool's errand) and think of it as meting out harsh but necessary justice so that none will ever consider committing the sin again, and those who are harmed will not only be assured that they are safe and protected, but, in some small way, they will feel avenged, and the sin of greed will wither and die, to the relief of all.

But one more factor yet remains: We must also ensure that those who create the law will, in turn, ensure that these laws are enforced by those who show the werewithal to enforce them.

We got here because CEOs know they can steal and only 1 man will take the fall for it. Deregulation breeds theft. Also, the wars. The thing that keeps the American econmomy thriving is when we do infrastructure improvements here at home. But when at war, that money gets diverted. Somehow after being in Vietnam, McCain's no. 1 priority has become that we do not lose any face in Iraq. A bad priority, considering it was a war based on hyped intel that has resulted in the deaths of 1/2 million Iraqi civilians (nobody seems to mention that; sounds important to me.) Making Iraq Mr. Roger's neighborhood has become more important to McCain than anything else, including our economy. Since Iraq II was mostly funded by Chinese loans, and as China stopped lending money to us this week, Iraq is about to get exponentially more expensive. America has no economic future under McCain / Palin. We will never leave Iraq under their leadership, and our economy will never recover.

How'd we get to this point?

CRA
Bill Clinton
Chris Dodd
Barney Frank
Nancy Pelosi
Alan Greenspan

Look at these rascals grinning at us.

They've won. Socialist America is here, and they have their frontman to take the heat (and maybe the fall) in the form of Obama. And then, four years hence, comes Hillary to save us !!! Oh joy !!!

CRA - Community Reinvestment Act

In 1995, as a result of interest from President Bill Clinton's administration, the implementing regulations for the CRA were strengthened by focusing the financial regulators' attention on institutions' performance in helping to meet community credit needs.

These revisions with an effective starting date of January 31, 1995 were credited with substantially increasing the number and aggregate amount of loans to small businesses and to low- and moderate-income borrowers for home loans. These changes were very controversial and as a result, the regulators agreed to revisit the rule after it had been fully implemented for seven years. Thus in 2002, the regulators opened up the regulation for review and potential revision.

Part of the increase in home loans was due to increased efficiency and the genesis of lenders, like Countrywide, that do not mitigate loan risk with savings deposits as do traditional banks using the new subprime authorization. This is known as the secondary market for mortgage loans. The first public securitization of CRA loans started in 1997 by Bear Stearns. The number of CRA mortgage loans increased by 39 percent between 1993 and 1998, while other loans increased by only 17 percent.

Other rule changes gave Fannie and Freddie extraordinary leverage, allowing them to hold just 2.5% of capital to back their investments, vs. 10% for banks. By 2007, Fannie and Freddie owned or guaranteed nearly half of the $12 trillion U.S. mortgage market.
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George W. Bush and the Republicans pushed for reforms, but they were opposed by the Democrats as led by Chris Dodd, Barney Frank, and Nancy Pelosi. Bless their sweet hearts - they wanted to help poor people with backdoor socialism and thereby screwed the entire financial system and us. Thank the Democrats, people. Do your own research.

Ole Peter doesn`t know what he is talking about. Find a safe bank,I thought all the banks are insured for deposits of savings, by the US"fdic" government. Is he just blowing wind, or really trying to frighten people into changing banks,creating more problems.

What are we doing bailing wall street out? these jerks are making millions in a week, of our money, let them bail out wall street. this government sucks, it is not for the working class of people, they do not want us to have nothing. i will not be voting for either of these jerks, one is a muslin and the other a big jerk. how dare washington take our hard earned money. I hate this system.

To A.C Lohr:
Who but an idiot would spend 10 seconds reading ANYTHING Ann Coulter writes. There is no bigger weirdo and moronic fool and LIAR on the internet. Doesn't say much for peoples intelligence when they listen to and quote Ann Coulter.

The blame for this mess belongs to the
liberal Democrats. It began under the Clinton administration. The governmemt with Reno threatened banks with investigation because they were properly
refusing to make loans to high risk people. They were accused of "red lining"
and possible discrimination. The bankers
made loans that they otherwise would not
have made. These loans were assumed by
Ginny and Fanny. Who were paying slush
money to the Democrats who were supposed to be overseeing these institutions. Bush warned some six times
that congress needed to make some changes but the Democrats refused to do so. They claimed that such alarms were politics. Barney Frank was in charge and watching out for our intrests. He is the
one who did not know that a homo sexual
ring was operating out of his house. Now
these same thieves want to be placed in
charge of 700 billion more of our tax dollars. They even included billions for a
crooked voter fraud orginization to rig elections. No wonder the people have no confidence in congress. Get the facts people don't listen to the liberal media. they are in the tank for socialism.

Bailout noway! We should look to impeach the politician who votes for it. We should also look to the Board of Directors of all these companies that have failed and investigate for collusion to defraud, the stock holder and the American people. We should set a 25 year mandatory sentence on these perps, confiscate all their Family assets. For a politician to defraud or attempt to defraud 30 years mandatory. What is happening to us now is the same thing that caused a Russian, French, and American Revolutions. We need to return to the concept of justice not Law.
To our Congress I say fix the problems and punish those who have defraud the American people. The Terroist could not have staged any better plan. These dishonest CEO's, CFO's, Politicians, and Boards of Directors could they now deemed economic terrist? The, Justice Department, I say jokingly, should also carry a blame for letting this type of white collar crime be taken lightly.

I hope we Americans find a way and that the Great Spirit or wahat ever you believe in helps this country.