Bill Moyers: Usury and American Dream

This all started with the great communicator, Ronald Wilson Reagan. First he went after The Traffic Control Operators Union which was a signal to big business that the Unions were fair game. And they went after them with a vengence wanting salary & benefit reductions and getting them while at the same time taking big bonuses and salary increases for themselves. Then Reagan and the Congress went in and gutted all the regulatory agencys FDR had put in place. Now the real dirty work begins. Hostile take overs of good solid small businesses financed with guaranted Savings and Loan loans. They piecemealed these companies out and destroyed lifes - owners & laborers.. And at the same time this was going on they encouraged the small farmers to borrow from these same Savings and Loans then called the loans in destroying many of the small family farms. As though that wasn't bad enough, those high flyers reneged on those loans which brought down the Savings and Loans. Now for the best part those corporate bastards stuck us with the bill for destroying these small viable businesses and our own economic future. Yeah... Right Greed is Good!

And still the republicans believe in "getting government off the backs of business"! But, it looks like Ronald Duck's"Government is not the solution, government is the problem" has turned out to be quite the opposite. Privatization is not the solution, privatization is the problem. Self regulation? What a laugh.

On a campaign conference call with Florida reporters, McCain surrogate, and fellow prisoner of war, Bud Day, seems to have cast McCain's foreign policy in stark, religious terms:

The Muslims have said either we kneel or they're going to kill us.... I don't intend to kneel and I don't advocate to anybody that we kneel, and John doesn't advocate to anybody that we kneel.

This started with the creation of the Federal Reserve, an unconstitutional institution, in 1913 in the dead of night. Both political parties are owned by the central bankers. Both parties are responsible. Your vote does not matter, elections are only held to create the illusion of choice. Both Oboma and McCain answer to the central bankers.

If the govt. cannot do anything right & the military is the most important, Enron should have had the army,Gen motors the navy & Fanny Ma the airforce-with Bush as commander in chief we likely have the same result anyway.

Mortgages and Credit Card companies is what is killing everyone right now.

Predatory lending. Has a nice ring to it. A guy who makes $9 an hour gets an approved loan for a $242,000 house. The lender gets all their money upfront. The lender finagles the numbers to get Freddy Mac or Fannie May to insure the loan. This loan and other loans somehow end up on Wall Street and is sold to investors. This guy loses the house and the lender is off scott free.

This is one of the nicer ones, sometimes they just tell you one thing, have you sign something you don't understand, then just blatently rip you off. Don't you just love white collar crime? No one ever goes to jail for stealing.

Gabe wrote:

Mortgages and Credit Card companies is what is killing everyone right now.

Credit cards, don't get me started on credit cards. 18% interest? Sometimes ballooning to 25%. Only the consumer can fix the credit companies. First you get some scissors, then you cut them ALL up. If you don't have the cash, then you don't buy it. Make Stores go back to lay away.

Think about it. They are charging you 18% on top a 7% retail tax. Just to buy something. I know nothing will change because Americans have become so shallow. It's like their brain shuts off with plastic in their hand.

madregal wrote:

And still the republicans believe in "getting government off the backs of business"! But, it looks like Ronald Duck's"Government is not the solution, government is the problem" has turned out to be quite the opposite. Privatization is not the solution, privatization is the problem. Self regulation? What a laugh.

Self regulation = run on greed. With tragic results.

Until the mid-20th Cent., credit was looked upon skeptically by middle class families, who referred to it as "debt". Save your money, pay cash, and pay off your mortgage ASAP.

Stop the blame. Personal responsibility wins in the end.

smirking texas congressman republican JEB HENSARLING was on LOU DOBBS SHOW defending the loan sharking credit card companies. hensarling is a protege of filthy PHIL GRAMM. gramm recently resigned from mccain campaign is vice chairman of gangster swiss UBS bank. UBS is accused of hiding $18,000,000,000.00 for rich u.s. citizens from IRS.

expatincebu wrote:

This started with the creation of the Federal Reserve, an unconstitutional institution, in 1913 in the dead of night. Both political parties are owned by the central bankers. Both parties are responsible. Your vote does not matter, elections are only held to create the illusion of choice. Both Oboma and McCain answer to the central bankers.

the 3 amigo story ? what book do U read ?

the Phillip pine or America pie ? or 3.14 ?

;-))))))))) French toast ?

sperm bankers ?

;-)))))))))

I was back home outside Philadelphia awhile back
and there were a lot of large house being built.
I also noticed that in some of these newer houses
that were already occupied that the family had no real furniture?

I thought it odd that a family of three with two fairly new luxury cars and a 3 to 5 bedroom house would be using plastic patio furniture and paper plates for dinner service? No window dressing, curtains, blinds, not even a sheet.

Now this family had been living like this for 6 months.

Couple a mortgage, property taxes, school taxes, heating and electricty.. etc. etc?

I can't help but think that in more than most cases people bit off more than they could chew.

Some are attempting to live way beyond their means, trying to keep up with the Jones's?

Yes a mortgage company will do anything to sell you a mortgage. I think it's up to you and I to be educated consumers? Yes, it's a nice neighborhood, good schools, but can I absolutely afford to live there.... in... that... home?

I gotta wonder how many times in this nation this scenario became a reality? Did we try to live beyond our means? Did our mouths write checks our azzes couldn't cash?

David wrote:

On a campaign conference call with Florida reporters, McCain surrogate, and fellow prisoner of war, Bud Day, seems to have cast McCain's foreign policy in stark, religious terms:
The Muslims have said either we kneel or they're going to kill us.... I don't intend to kneel and I don't advocate to anybody that we kneel, and John doesn't advocate to anybody that we kneel.

Since NOBODY is advocating kneeling, I don't see what this has to do with the point.

So what is the truth in lending?

J Barrett Wolf wrote:

<quoted text>
Since NOBODY is advocating kneeling, I don't see what this has to do with the point.

That is where asspirations come in.....a bow turned around....

You turn gas into a asset....

Finance is now 22% of the economy with hedge funds the fastest growing segment. The definition of a hedge fund is that they are like locusts. They swarm where there is opportunity and after they have picked the carcass clean they move on. To serve these hedge funds, and collect huge fees which translate into large bonuses, the greed meisters on Wall Street have created "financial products". They are so many and so varied I don't know if anyone short of an Albert Einstein can comprehend them all. What you are seeing now is the unwinding of those "financial products" and the huge amount of credit they used to buy them. The bad lending practices that put homeowners into houses they couldn't afford came about when hedge funds started to demand this type of debt they could invest in. Banks packaged all these loans into securities that the mathematical formulas deemed safe, CDO's, SIV's, and whatever else they packaged them into. They were safe only as long as people believed in them. This is only one example. Now that the government is finally trying to bring these hedge funds under control, they threaten to move overseas and take their money with them. This is the real face of globalization. The rich go wherever they want to rape and pillage, and move on to the next victim. You can blame the FED for creating too much credit, but the real cause is the outright greed of people who already have too much money but still feel it is not enough. Whether it be the housing crisis, high gas prices, high food prices, or a possible depression, all roads lead to Wall Street.

Let's blame everyone else for any trouble with the economy cause the economy should never retract. Gore is the savior. He has all the right answers because he is so smart. Smarter than everyone else. Its a race to the bottom folks, with the liberals laeading the way

Greed is Good wrote:

This all started with the great communicator, Ronald Wilson Reagan. First he went after The Traffic Control Operators Union which was a signal to big business that the Unions were fair game. And they went after them with a vengence wanting salary & benefit reductions and getting them while at the same time taking big bonuses and salary increases for themselves. Then Reagan and the Congress went in and gutted all the regulatory agencys FDR had put in place. Now the real dirty work begins. Hostile take overs of good solid small businesses financed with guaranted Savings and Loan loans. They piecemealed these companies out and destroyed lifes - owners & laborers.. And at the same time this was going on they encouraged the small farmers to borrow from these same Savings and Loans then called the loans in destroying many of the small family farms. As though that wasn't bad enough, those high flyers reneged on those loans which brought down the Savings and Loans. Now for the best part those corporate bastards stuck us with the bill for destroying these small viable businesses and our own economic future. Yeah... Right Greed is Good!

your stupid !