Why, it would almost be a taxpayer revolt, wouldn’t it?

Bailey’ basic premise was founded on the same bent as those who pressured the government to loosen up on the regs in order to allow lesser solvent folks the opportunity to buy a house in Bedford Falls. Well, we all know how the story ends but in the REAL world, that hat that got passed around came up bupkiss and that’s what the mortgage industry in our nation had to deal with.

I saw all the growth, I was in Phoenix at the time with a new house closing every 10 minutes or something like that. I could not imagine where all the money came from. Now I know. It wasn’t there. At least not in any great or consistent quantity.

So it caved in. As well it should. That is how it works. And everyone who was complicit in it, deserved to eat some of the humble pie. Unfortunately, such was not the case as a corrupt Bailey came along and told Potter he’s a mean racist and everyone believed him. Mary bought some 400 dollar sneakers and Zu-Zu got better but still can’t play the piano.

All kidding aside, you can only run wide open for a certain period of time. Every single money man in the business KNEW that the end had to come. So the trick was how to maximize their yield before that happened and how to dump the bad debt onto some unsuspecting fools.

But it’s kind of like trying to hide a fire under your hat, ain’t it? You’re the only one who can’t see it.

*sigh*

They care about power.

Czaris Russia was dirt poor, but the Romanoffs lived in splendor.

So will Obamy.

We can only hope that he and his crooked puppet-masters will end up in the same graves as the Romanoffs.

I was out-voted almost every time by my fellow partners. They drove the institution headlong into most of these deals so that we ended up owning a mortgage wholesaler (a new invention), an auto-financing unit that specialized in creating asset-backed securities out of car dealers’ bogue-paper they wrote themselves; arranged a dozen private label credit card structures for name-brand chains you’d recognize; and in general went for the disastrous wave of Biblical proportion new way of consumer lending. Watched the FBI fund virtually 100% of Equifax’ new unit in Alpharetta Georgia so the FBI could circumvent the law not to amass files on average citizens without due process; this way they could BUY files from Equifax’ new unit and be in the clear …

… all of which is to intimate that being there in the Change, I got out. I predicted, then, corruption, fraud, graft and law breaking on a scale heretofore unknown in our nation. And I was right. The tales I can tell of just the criminality of the ruin of the S&Ls, their demise and gobbling up by banks already scripted before the S&Ls even knew their ruin was laid on would curl your hair. The following crimes of what went on around the Resolution Trust should have put 1,000 politicians and bureaucrats in prison but instead made a lot of people very very rich.

What we’re witnessing is unlike anything I can understand. I understand the criminal mind, but to purposefully murder the golden goose is beyond my ken. And obviously beyond most people’s understanding because regardless of explanations offered it just gets more and more complicated, more criminal and more wrong …. like trying to haul water with a fork.

My wife and I always give directly to organizations like the Boy Scouts instead of the United Way which is borderline crooked and very badly run.

Buy something nice for the house, Pro is right, this is probably the one time you’ll get anything from the feds.

And they are in the early stages of siezing the News media (in addition to FCC control).

And don’t forget that the government also has captive control of the industries that supply the military.

And don’t forget that the government also has implicit control of the Education Industry.

And don’t forget that the government also has implicit control of much of the Transportation Industry (other than automobiles) via the FAA and other regulatory agencies.

So a large portion of the small slice of the economy that isn’t directly under the thumb of the Obamy Fascists is still controlled by them.

You will be cheated out of 100 times that amount during your life by the government. View it as a token reimbursement for the crimes that will be committed on you so that your rulers can live like emperors.

Not keeping the money would be the equivalent of not drawing Social Security because you oppose it philosophically.

Health Industry
Automotive Industry
Insurance Industry
Banking Industry (control the money)

If the health industry is 6% of the nation’s economy, I’ll bet all the others listed and not listed, comprise a very alarming figure.

Didn’t we see this in history but a mere 75 years ago in Nazi Germany?

Neither does Congress. What’s that definition of insanity, again?? And what does it say about us, as a people, when we let them continually abuse our money??!!

**On a personal note: My wife & I recently purchased a home this year after living in an apartment for many years, cleaning up calamities acquired before we we’re married to each other.

We legitimately qualify for this $8000 tax credit …uh, incentive… transfer of wealth.

I can certainly spend that money better than the gub’mint, but I loathe the notion of redistribution.

There lies the rub.

We’re leaning toward either tithing the majority of money to our church, or a huge donation to the RNC, or a significant contribution to local Missouri republicans / libertarians. Surprisingly, ACORN is not on the list.

Any advice, local denizens of S&L?

.

How much would you like to wager that the next story like this will be about auto dealerships submitting phony “cash for clunkers” credits? Well, that’s if the government will actually send this money to the dealerships, since we all can see that this socialist administration is hell bent on acquiring every bit of all the major industries in this country.