amicus
Literotica Guru
- Joined
- Sep 28, 2003
- Posts
- 14,812
http://hnn.us/articles/1849.html
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There are many articles, some scholarly, some not, this one is, concerning the origin, history and purpose of these financial and mortgage institutions.
What only some will state is that both started off with 'good intentions' to redistribute wealth from those who had money to those who did not, the same old socialist agenda prevalent in 1938 under Franklin Delano Roosevelt, when Fannie Mae was created to offer help to depression era and dust bowl affected people of low income.
Take from those that have and give to those that do not, such a fine, fine gesture of gentility that never, ever works as intended.
Now move forward to the wunnerful sixties and seventies when the love generation and the equal rights, for wormen and minorities was all aglow with kumbaya, ad nauseum....
Now let us use a bit of government force and coercion to intimidate mortage lenders and bankers to make loans to blacks, hispanics and single household single mothers who could not qualify under usual standards for a home or a car loan.
It gets even better as the banks and lenders attempt to minimize the risk of these toxic loans that everyone knows will never be paid off, by selling bundles of mortages of failing individuals and businesses, all financed by government approved, if not guaranteed monies and backing.
There are speculators invovled also, shifty, crafty crooks that are always, like the mob, on the fringes of shady business who got in and out of the market to make a profit.
But do the research, the loans to unqualified buyers, mainly wormen, blacks, hispanics and yes, even illegals, is the rotten core of the apple that has now fallen from the tree.
Now there is a shortage of decent fruit at all levels and everyone is asking why and who is to blame....such a NEW DEAL, such a GREAT SOCIETY, of absolute failure of socialism, even if you read only braille, you should get this, it can't be made much clearer.
Amicus....the bearer of truth....
~~~
There are many articles, some scholarly, some not, this one is, concerning the origin, history and purpose of these financial and mortgage institutions.
What only some will state is that both started off with 'good intentions' to redistribute wealth from those who had money to those who did not, the same old socialist agenda prevalent in 1938 under Franklin Delano Roosevelt, when Fannie Mae was created to offer help to depression era and dust bowl affected people of low income.
Take from those that have and give to those that do not, such a fine, fine gesture of gentility that never, ever works as intended.
Now move forward to the wunnerful sixties and seventies when the love generation and the equal rights, for wormen and minorities was all aglow with kumbaya, ad nauseum....
Now let us use a bit of government force and coercion to intimidate mortage lenders and bankers to make loans to blacks, hispanics and single household single mothers who could not qualify under usual standards for a home or a car loan.
It gets even better as the banks and lenders attempt to minimize the risk of these toxic loans that everyone knows will never be paid off, by selling bundles of mortages of failing individuals and businesses, all financed by government approved, if not guaranteed monies and backing.
There are speculators invovled also, shifty, crafty crooks that are always, like the mob, on the fringes of shady business who got in and out of the market to make a profit.
But do the research, the loans to unqualified buyers, mainly wormen, blacks, hispanics and yes, even illegals, is the rotten core of the apple that has now fallen from the tree.
Now there is a shortage of decent fruit at all levels and everyone is asking why and who is to blame....such a NEW DEAL, such a GREAT SOCIETY, of absolute failure of socialism, even if you read only braille, you should get this, it can't be made much clearer.
Amicus....the bearer of truth....
