Comments on: Corrupt Government Officials Should Be In Jail… Alongside Corrupt Banksters

By: Bobbi Swann

Bobbi Swann — Sun, 29 Jul 2012 14:40:33 +0000

@ Mystify (and all others) – You have another choice at the polls besides Democrat & Republican. He’s not bought and paid for by the banksters and he’s been fighting against the corruption and deception of our government for years! If it comes to the best of all evils, Ron Paul is our best bet!

I’m a registered Republican and next month all the thieves, mobsters, banksters and the like will be congregating here in Tampa for the DNC. Everyone is all hiped up with the thought of money being brought into the market down here. It just makes me sick! And the thought that Romney is considering Bondi…..well, that’s just frightening as hell!

By: anne4

anne4 — Fri, 27 Jul 2012 21:04:12 +0000

The excesses of the banks, both in the housing market –Countrywide, etc.– and the commercial market — left banks with massive loan portfolios that they could not fund. Particularly in the commercial real estate and construction market, construction loans were predicated on the banks’ funding of periodic draws against lending contracts.
What Tim Geithner did, as head of the US Treasury, was to order banks to get out of those real estate and construction loans BY ANY MEANS POSSIBLE as a condition of getting TARP money. Big regional banks, such as National City Bank, were the first to be told to do so. In the case of National City, one of the first to be put under those orders, US Treasury officials met in the board meetings of that bank in Cleveland and dictated those terms. (See the Cleveland Plain Dealer). National City was purchased with $7B in TARP funding by PNC.
Geithner made it a condition of TARP funding that EXISTING loans were not to be funded, only NEW loans. Those EXISTING loans in these regional banks were $10 million, $20 million, $30 million and higher construction loans on construction projects that represented dozens of subcontractors, suppliers, manufacturers and 100s of workers on each project, none of whom had a direct contract with the bank. When the bank called those loans, it destroyed those businesses and jobs. Each one of those projects represented far more than bundled housing loans. Of the 8.3 million jobs lost, 22% were in the construction market (Federal Reserve of St. Louis), with much of the rest in related manufacturing and supply, including consumer goods fueled by that construction market.
The resulting swindles were led by banksters and their foreclosure lawyers to line the pockets of their friends through asset-holding companies buying up the properties at pennies on the dollar, funded through NEW loans by the neighbor bankster buddies. Look up the current ongoing FBI investigation of one of these banksters & friends in St. Louis

By: Mystify

Mystify — Thu, 26 Jul 2012 22:48:49 +0000

Just listened to interview with MItt Romney stating the housing crises is due to Americans borrowing too much give me a break! Are you serious? This just proves that if you want the 1 percent in the white house then vote Romney. I am not saying Obama is much better but mitt is totally out of touch. I saw him on NBC world news tonight and not only did he embarrass himself to the Brits but he insulted me as an American citizen!