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View Diary: Schneiderman's Mortgage Fraud Task-Force: A Con Job & Political Hackery (14 comments)

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  •  I totally disagree with that premise. The lenders (2+ / 0-)
    Recommended by:
    Dumas EagerSeton, aliasalias

    which I call Wall Street financial criminal cartels, purposely engage in a sophisticated ponzi scheme.  They knew what they were doing.  Their "financial products" infected the market, just like any pathogen does in biology.

    If you create a situation where you basically say "I'm going to spread 'free money' around" and make that a proposition for average citizens, people are going to start grabbing with both hands.

    The fraudulent financial products were created so there would be very high volumes of transactions, and the financial criminal cartels would make their money from fees on those transactions, and from speculating further on those transactions.

    They paid off the rating agencies and our worthless political establishment to accomplish this.

    The result: Tens of thousands of suicides, entire communities devastated, the defunding of essential services in community after community...

    This was the biggest and most heinous crime in modern history, and everybody knows who the culprits are.  The most offensive thing is that they are still walking around, with smugness on their faces, instead of doing hard time in prison.

    •  Well, the currency is the responsibility of (0+ / 0-)

      Congress. Money ought not to be used for gambling, just as hammers ought not to be used to hit people over the head.
      Using money as a tool of subordination is essentially abusive. But, it's been going on for so long that it's almost accepted.
      Imagine if we rationed inches. Congress rationing dollars is much the same.
      However, habits are hard to break. Islam preaches, as far as I know, that it is wrong to charge interest on money, over and above the cost of keeping accounts.
      Beppe Grillo refers to bankers as the priests of money. The Catholic church has a history of selling indulgences. Making an idol out of money is sort of the reverse.

      We organize governments to deliver services and prevent abuse.

      by hannah on Fri Mar 01, 2013 at 08:38:38 AM PST

      [ Parent ]

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