Friday, October 24, 2008

Arrest Greenspan

Alan Greenspan, former Fed Chairman, along with Congressional banking regulators and certain executives from banks should be arrested for treason. These people subverted the U.S. financial system to the point that it has caused a clear and present danger to the national security of the United States.
Greenspan wants to feign ignorance – after years of ads from the likes of Country Wide Mortgage company (the biggest retail lender of mortgages in the US) “Mortgage- no qualifying, a social security number gets you a mortgage” there were low-doc and even NO-doc loans, that were essentially banks giving money away if you were using it for real estate- counting on the fact that real estate prices would trend up allowing unqualified borrowers to pay back those notes via capital gains. How could anyone believe that Greenspan, Congressional regulators and bank executives could not guess that eventually, real estate prices would crest and begin to fall- as all previous real estate cycles do – boom busts come and go.

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