How we got this financial crisis

How we got a financial crisis

http://preview.tinyurl.com/4zEvleths200a10

July 19, 2010

"...This is an account of what ails us that is radically at odds with
the familiar tale of greedy bankers in $5,000 suits. “Almost every
financial crisis has political roots,” Rajan writes. The credit market—
at least as regards housing—was distorted by government policy, not by
a sudden and mysterious escalation in “greed.” The trends that shook
the world economy came out of Fannie Mae and Freddie Mac, out of the
Federal Housing Administration, and out of their “regulator,” the U.S.
Department of Housing and Urban Development......"

For objectivity on this fiasco one has to look at articles in news
media abroad as follows in order to circumvent the Bush bashing
endemic in the US MSM:


http://www.theglobeandmail.com/servl...27.COWENT27/TP...

Excerpt:

"..In fact, no one wants to level with the people. If they did,
they'd
have to explain that everybody had a hand in creating the credit
crisis - even Democrats. In fact, it was the Republicans who pushed
for tighter regulations on Fannie and Freddie, the government
mortgage
lenders, and the Democrats who opposed them. "These two entities ...
are not facing any kind of financial crisis," said Democratic
congressman Barney Frank back in 2003. "The more people exaggerate
these problems, the more pressure there is on these companies, the
less we will see in terms of affordable housing."

If you fall for one of these at best you will lose thousands of dollars; at worst you will lose your life. These usually start with an email from a bank official or the relative of a recently deceased African president or a government minister informing you that they have new york escort access to millions of dollars but need your help to get the money out of the country. The end result is that when the deal is threatened you will new york asian escort be asked for money to secure the release of the funds. Do not new york escorts under any circumstances reply to these letters, people have been murdered while following up with these scams.PhishingPhishing scams can be very elaborate, scammers send out emails to millions of internet addresses purporting to be from a financial institution, and requiring you to log in and new york asian escorts confirm your details. The email looks authentic and contains a link that you need to click.