The feds can't force the bankers to do anything. The banks,including the Federal Reserve Bank, are private owned-not part of the government. If the banks don't want to extend credit,then there is nothing we can do other than go broke . No credit-no business. The banks are doing the same thing now that they did in the early 1930's to bring about the Depression. They will bring this country down on it's knees again. In the 1930's , the Bankers legally took possesion of everything in this country ,with the help of Roosevelt and the bankruptcy of March 9,1933. Then came the Roosevelt/Banker "The New Deal" ,which is when the new "money" came out. The notes we were forced to use became a debt instrument. The more debt instruments(money) we use,the more indebted we are to the bankers. Since that time, we have been forced to fork over an ever increasing percentage of our earnings back to the bankers in the form of IRS income taxes. The taxes "voluntarily" paid in do not go to keep the government running,but instead,goes right back to the Federal Reserve Bank to pay interest on the perpetual debt. This has been reported in the Grace Commission Report. We are supposed to be free,but we are not. We all are possesions of the Bankers. The bankers are the one's that are creating our financial woes right now. I wonder what they plan to rob next?
NO, You've got it wrong. It was a RESCUE plan for the financial industry. Collaterization of sub-prime, liar, NINJA (no income, no job) loans, credit default swaps, etc. were not their fault. No need to haul them in front of a kangaroo court (two times!) to explain their past actions, explain how they will correct it, what they plan to do in the future to prevent the mess they made. Just give them (not loan) taxpayer money so they can continue to "party like it's nineteen-ninety-nine". Hundreds of thousands to celebrate the great job they've done, millions for retention bonuses so this irreplaceable talent doesn't leave (where would they go anyway?). This is what they did with our money. Now, the auto industry is different (Detroit BAILOUT). The 40+ percent drop in auto sales was not caused by the lack of credit for people wanting to buy cars. It was caused by auto execs flying to Washington D.C. in private jets! They only make gas-guzzling, low quality junk that no one wants to buy anyway, everyone knows that. A $14 billion loan (2% of the New York/Wall Street handout) would be the wrong thing to do. They need to restructure -- i.e. screw the employees and supplier base -- to be competitive. Those overpaid, uneducated, drunken UAW workers (and retirees) need to be taken down a notch or two. That'll fix things. [/RANT OFF]
One man could see through the Federal Reserve sharade during the depression. Louis T. McFadden-Congressman. http://www.geocities.com/CapitolHill/Senate/3616/flaherty10.html http://www.afn.org/~govern/mcfadden_speech_1932.html And it sure is strange that he suddenly died a couple of years later. http://www.apfn.net/Doc-100_bankruptcy28.htm
Thankfully, as previously stated, I didn't get the chance to own, nor did I want the chance to actually purchase given the garbage parked on the local dealership's lot. Nothing says "don't buy me" like a floor model with body panels so obviously emplaced by Stevie Wonder. ou: I did drive it though so I'm uniquely qualified to comment based on your criteria. ..er..no offense to Mr. Wonder meant...I suspect he has better quality control than those particular Chrysler workers displayed on that '06 Pacifica. My dollars that year went the number one guy in the JD Powers satisfaction survey.
