Corporate Welfare for Bush & Clinton's Financial Crisis 2/3

[quick1kungfu]

The Board of Governors of the Federal Reserve approved an amendment allowing Bank Section 20subsidiaries to trade MBS (Mortgage Backed Securities) without having to prove that the underlying assets met the Board's appraisal standards. They did not believe it would pose harm or causes systemic problems to the banking industry... YEAH RIGHT!

[kjack5]

kjack5

Both the price of houses and cars practically double because of low interest loans-easy credit.

What we need is for the undoubling, so that cars and houses don't cost some much for the average consumer.

Propping up the landlord and the auto salesman won't get that done and that looks like what the 700 billion is aiming at-proping up higher than normal cost of housing and cars and oil and at the same time-holding down the wages of the average worker!

9/23/2008

[LeftLiberalSoCal]

Hey you forgot to post part 3!!!

[yrrmom]

Patience. It's processing....