How Wall St. set us up for the fall-Nomi Prins- 3/3

Five Ways Wall Street and Washington Set Us Up for the Crash: Author Nomi Prins Explains Where Congress Went Wrong on Lending

The worst of the economic crisis may be far from over. That was the message of Federal Reserve Chairman Ben Bernanke Tuesday. He indicated that the housing and financial turmoil will persist deep into next year. The Senate, meanwhile, is deliberating a bill this week that would provide government-backed loans to 400,000 homeowners on the brink of foreclosure. We speak with former investment banker turned journalist and author, Nomi Prins, about "Why the Economy Went South." [includes rush transcript]

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News & Politics

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• loans
• housing
• market
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• democracy

[starmanskye]

Boy, one aspect of this whole debacle that REALLY burns me up as a supreme bitch-slap sucker-punch insult, is many of the SAME hypocritical greedy self-interested corporate-whore assholes who bitched loudesty & longest about how TERRIBLE & unAmerican it would be to repeal Bush-era tax-cuts, to make corporations, richest 1% fatcats & tycoons pay their fair-share of taxes, actively aided-and-abetted deregulation of CDOs/derivatives ponzi-schemes that caused this crisis & unprecedented public loss!

[DREwestcoast]

@ItsaDamnPuzzle here's the way I look at it, the mainstream media can make the masses believe damn nearly ANYTHING providing the news anchors and 'experts' put the right spin on it, it's all about how the information is presented, they KNOW people are too lazy to look things up, let alone build some basic knowledge.. that's why the entertainment buisness is booming, people assume that things are too complicated and only TV can inform them, not even thinking who controls the MSM.

[TyredUvBS]

Bottom line, it's all rigged and there is no oversight or checks and balances. It all goes back to woodrow wilson and the federal reserve act of 1913. That's 95 years of a non-government agency/cartel who's main purpose is to devalue and inflate currency and manipulate market prices and indexes. Abolishment the fed is long overdue.

[ItsaDamnPuzzle]

What does the mainstream media say: "Ahhhh the oil decreased $ 20.00 so this is good news for fighting the inflation> BULLSHIT. This is self-fullfilling prophecy man, 100% organized by the Central Bank speculants (Bank of England, ECB, FED whoever).

I am sick and tired to see all the BS passing by. Share me your thoughts...

[ItsaDamnPuzzle]

Are you all aware of the fact that the Central Banks manipulate the stockmarkets enormously every time when the markets tend to crash?? For example this week: IndyMac went bankrupt (I think the worst news since many years) and what happens:

YES!! OIL gets dumped massively (only God knows WHO is doing this) and we see a money shift to the Equity Markets to save the stock markets and regain trust.