Jesse Jackson, Al Sharpton, Phil Gramm and Barney Frank should be the first ones strung up over this whole mess.
The Cure IS the disease. Printing money, mandating easy credit, bailing out fat cats with taxpayer money. The greatest swindle ever known.
Forecast: U.S. Dollar Could Plunge 90%
Excerpt:It is important to understand that this is pure insanity. Our government has NO business eating the debts created by Wall Street. The criminals were engaged in massive fraud. That toxic debt may be unenforcible:Published: Nov. 19, 2007
RHINEBECK, N.Y., Nov. 19 (UPI) — A financial crisis will likely send the U.S. dollar into a free fall of as much as 90 percent and gold soaring to $2,000 an ounce, a trends researcher said.
“We are going to see economic times the likes of which no living person has seen,” Trends Research Institute Director Gerald Celente said, forecasting a “Panic of 2008.”
“The bigger they are, the harder they’ll fall,” he said in an interview with New York’s Hudson Valley Business Journal.
Celente — who forecast the subprime mortgage financial crisis and the dollar’s decline a year ago and gold’s current rise in May — told the newspaper the subprime mortgage meltdown was just the first “small, high-risk segment of the market” to collapse.
Derivative dealers, hedge funds, buyout firms and other market players will also unravel, he said. * * *
Video: 40% - 50% of Banks Have No Legal Right to Foreclose
Mortgage Servicers Sucking Loans Dry
That must be why Paulson want to do away with the Courts and of the laws that would govern any potential fallout . . .
Treasury Seeks Asset-Buying Power Unchecked by Courts
U.S. Treasury would normally inherit any defects inherent in the legal rights of the Wall Street Investment Banks. It is an open question whether people defrauded by lenders and mortgage servicing companies will be able to fight the Treasury.
Have a nice day . . .