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 Post Posted: Sat Aug 17, 2013 12:19 pm 
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Found this on another site and thought it worth passing along as it explains what went wrong with the housing bust that killed the economy back in 2007/08! No name with it but it's a good read.

anonymous wrote:
Mortgage lenders, controlled by the Trilateral Commission arm of the European banking cartel, blackmailed Barney "Roll the Dice" rump ranger Frank into goading Fannie Mae and Freddy Mac to buy sub-prime mortgages.

The lenders then gave a mortgage to anyone still breathing, and quickly sold the loans to Fan and Fred, thereby creating a nice profit for lenders and taking them off the hook for billions of dollars of bad loans. The well-paid managers of Fan and Fred happened to be well-connected Democrats who pulled in some markers and got the federal government to take their $130 billion burden and put it on the ignorant citizens so gullible that they re-elected the leader of the party that started the whole bust cycle.

This leader then raised taxes, which then turned a trickle of foreclosures into a full-scale housing bust. The lenders are now using their cash to buy the houses for pennies on the dollar. At the same time, they are directing their lackeys in Congress to talk up the concept of loosening the Fan and Fred requirements - again.

Eager politicians comply because they know from experience that there will be no political price to pay for such a stupid/felonious move, and that grateful lenders will provide the legislators’ PAC’s with enough money to ensure re-election.

The new round of loose money will ignite a housing boom, thus providing the lenders with a skyrocketing market to unload their inventory of cheap homes, all the while collecting fees for the mortgages for the homes, and then selling the loans at a profit to Fan and Fred.

Thus the cycle continues.


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