Let me ask you a question? If your elected government officials managed the financial affairs of your government, a job for which you elected them, in the same manner as their own…do you really think a financial problem would exist today?
While at the moment, I lack any solid evidence to support such an allegation, in my opinion this was a deliberate and calculated act to defraud the people of this nation; the American citizen. Due to apparent conflicts of interest Congress is useless in investigating this matter. Therefore it is incumbent of “We the People” to insist on the creation of grand juries, independent of any control or influence by any members of the judiciary and/or prosecutors, and conduct our own investigations!
– Arnie Rosner
Now let’s see what Michael has turned up….
Michael Rivero of What Really Happened, Wrote the Best Explanation I have Seen Anywhere of Why the Banks are Getting away with FRAUD!
Congress Busted! BOY! You bet….see more shocking details at the end of this document.
What happened is simple. Congress members were invested in the Wall Street Firms behind the Mortgage-Backed Securities Fraud; the biggest financial swindle since the Great South Seas Bubble of 1721. Congress passed an $8000 first-time home-buyer credit to lure more suckers into the scam, to front load the fraud with fresh mortgages of questionable worth, and raked in huge profits from the “tulip mania” sales of the MBS.
A question for our respective elected officials…”So my dear Congressional Representative… just what part of this fraud upon the American people did you play?”
Then the scam fell apart. Foreign banks and investment companies (and indeed entire nations) were brought to the edge of ruin by the fraud and demanded that Wall Street refund their money. Wall Street does not like to surrender profits, even ill-gotten ones, and neither does the Congress. So Congress voted for the “bailouts”, which are actually buy-backs, to use public money (and more funds borrowed from the Federal Reserve) to purchase back the bad paper and cover the credit swaps, dropping the costs of the scam onto the American people. This was done despite 90% of the American people opposing the use of tax money to save the bankers form their own reckless behaviors. (Can you say “Taxation without representation?”)
At the same time, in 2008, the White House set a policy that nobody on Wall Street was going to be investigated or charged for this fraud, because inevitably the scandal would envelope all the members of the Congress who had their personal fortunes tied up in the swindle. Obama had Tim Geithner go up to New York to intercede with NY Attorney General Andrew Cuomo to make certain no Wall Street CEOs were investigated in connection with the mortgage-backed Securities scam. (That is obstruction of justice).
During the Bush administration, and accelerating under Obama, tax incentives were created for corporations that encouraged the offshoring of high-paying jobs to other countries. Americans, stripped of their ability to pay their mortgages, became easy prey for banks, who needed the entire value of the foreclosed homes on their balance sheets to stay solvent as the cash flowed out the door to buy back all the fraudulent investment bundles.
In other words, the government took your jobs so the banks could take your homes to save themselves from going to prison for the crimes that made themselves and Congress incredibly rich.