Let's say one formed a list of who should be accountable for today's economic ills ?
Bush Administration.....
Bush promoted favorable "easier" housing policies
Bush spent heavily on non-infrastructure....
Clinton promoted "easier" housing policies....
The $500, 000 tax free real estate rollover made the returns on levered housing superior to other investments...
Fuld, Blankfein, Mack, other IB heads.....
Facilitated careless excessive leverage for both housing and commodities....
Politicians ....Barney...etc....initiated and maintained policy supporting bad economics....namely "easy money" housing etc...
Rating agencies....
Lost their objectivity....Were paid to create AAA ratings which allowed for the placement of CCC paper that supported "easy money" housing....
And are still in business.....
The list goes on.....
...........................................................................................
Here is the problem.....
The Fed is bailing out and maintaining the very ones that were causal in today's economic blight.....
It seems as if no one is being held accountable....
Which must mean the legal system has no means or desire to hold persons accountable for the huge financial damages ? Particularly to those who played by the rules, saved money, and provided the fruit of their work....such that others could have loans....albeit for easy money ?
Thus the word justice comes to mind ? What justice ?
Another issue that comes to mind is remedy....
If one does not banish the problem creators....then how does the problem go away?
There almosts seems as though there is a grand scheme against those who played by the rules and saved their money.....
At this very moment....they have no reward for saving....the US government mandated "no interest".....
Time for CHANGE............
CHANGE that actually creates justice by and for those that provide the wealth whereby the economy can move forward .....not backwards.....
Bush Administration.....
Bush promoted favorable "easier" housing policies
Bush spent heavily on non-infrastructure....
Clinton promoted "easier" housing policies....
The $500, 000 tax free real estate rollover made the returns on levered housing superior to other investments...
Fuld, Blankfein, Mack, other IB heads.....
Facilitated careless excessive leverage for both housing and commodities....
Politicians ....Barney...etc....initiated and maintained policy supporting bad economics....namely "easy money" housing etc...
Rating agencies....
Lost their objectivity....Were paid to create AAA ratings which allowed for the placement of CCC paper that supported "easy money" housing....
And are still in business.....
The list goes on.....
...........................................................................................
Here is the problem.....
The Fed is bailing out and maintaining the very ones that were causal in today's economic blight.....
It seems as if no one is being held accountable....
Which must mean the legal system has no means or desire to hold persons accountable for the huge financial damages ? Particularly to those who played by the rules, saved money, and provided the fruit of their work....such that others could have loans....albeit for easy money ?
Thus the word justice comes to mind ? What justice ?
Another issue that comes to mind is remedy....
If one does not banish the problem creators....then how does the problem go away?
There almosts seems as though there is a grand scheme against those who played by the rules and saved their money.....
At this very moment....they have no reward for saving....the US government mandated "no interest".....
Time for CHANGE............
CHANGE that actually creates justice by and for those that provide the wealth whereby the economy can move forward .....not backwards.....
now anyone who can pony up the lease can drive away in one...even if they live in a trailer...peace