Bernanke on the morgage crisis

Houses would not have become so expensive and people would not be in so much trouble if some bankers and the fed had felt just a little bit responsible. Instead they where trying to find out how to make morgages into securities and failed miserably, mainly because there was no way to prevent being duped by fellow bankers. The rating companies became corrupted by their power and standing, coercing banks into being rated and rating the morgages higher for profit. The common man fell victim to this scam. Bernanke thinks we will look at this as a failed experiment, showing he has no sense of the impact it has and has had on society. Right now he is killing the dollar under the excuse of dealing with the threat of 'deflation' which is french for causing massive inflation. Why? Because he is not the alpha en omega of the economy. He deals out monopoly money and we treat accept it. We could print lottery tickets and use them to pay for goods and services it would be the same thing, but we would not be robbed at the introduction of it into the economy. The new dollars are freeloaders, but the banks are selling them as the real thing.

Category:

News & Politics

Tags:

• sub
• prime
• crisis
• morgages
• lending
• debt