The Sub Prime Fiasco

You want to know some more about the Republicans, then check this out.

When the money was not coming back to the government fast enough, Greenspand began to play with the Federal Reserve.
Money wasn’t coming back because we were losing jobs to outsourcing. So, when less people work, fewer taxes come back to the government.

The first move for Greenspand was to make credit easier to get, so credit cards flooded the market. They sent credit cards to my pet. This put a bubble in the economy for awhile but the continued lose of jobs made the credit cards harder to pay off because the people had maxed them out.

His next great idea was to find out how people can pay off these credit cards so he made it easier to refinance your house. People began to use their house as an ATM machine. They paid off credit cards and bought frivolous things and re-maxed their credit cards again. Jobs continued to leave and people began to foreclose banks began to fail and big business began to go belly up.
Enron was the same thing, and the saving and loans were the same too.

Fanny Mea and Freddy Mac owned over 75% of the sub-prime loans and the profit from those loans went to share holders and China. You see China bought the bonds from those loans for money they lend to the USA. This fiasco has put havoc on the world market too.

Now your great, great grandchildren are $130,000 in dept. Every time Republicans get in power the quality of life for common people go down. If you don’t learn from your history you repeat it. Thanks Republicans.

So what do we do? Vote the other way. Bring honesty and integrity back to America. Get rid of the people in power now and let’s start over. Let the people get involved with gaining their government back. Wake up people and learn from your pass or are we just that ignorant. Aristotle or Plato said that the masses are incurably ignorant. Well lest see.

Gaidi