I should be more clear. When I use the term “lenders” I don’t just mean the banks themselves ... I mean anyone who buys the mortgage-backed securities that are comprised of those loans.
Over at Zerohedge, one of the writers had this summation of his essay: “The Fed continues to follow the same wrong policies as it has since the beginning of this depression. We now have one of the longest depressions in history that has been caused by the Fed and the fiscal policies of the Bush and Obama Administrations. They are devaluing the dollar, destroying capital, thwarting growth, and cheating savers out of their hard earned money. It is a cruel blow to the 23.1 million un/under-employed in the U.S. who need economic growth to create jobs.”
I could not make a better statement about how out of touch these jerks in DC are especially the part of how they are cheating savers out of their hard earned money...frankly, they are stealing it.