BILLIONS FOR BILLIONAIRES

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PRESIDENT G.W. BUSH SIGNED A $700 BILLION BAILOUT BILL FOR ………… 

 

 

 

………………………….. PREDATORY LENDERS CREATING SUB PRIME HOME MORTGAGES. 

 

These predatory lenders, I call them Vampire Parasites, had been making shaky adjustable rate, no down payment home loans to unqualified buyers for years. After making these bad loans, these crooked lenders would then create bundles of the loans containing thousands of loans each, and sell these bundles of bad loans to government insured programs like Fanny Mae.

When this Ponzi scheme crashed, the GOP President told us, that unless taxpayers bailed this mess out within days, the world as we knew it would end immediately, and lots of working people would have their homes foreclosed on. So, the bailout was indeed passed in a matter of mere days.

After the give away legislation was signed into law by GW, none of the predatory lenders went to prison, and all of the $ 700 billion was handed out to the same corporate Bankster crooks,who had created the problem.

Not one dime of this bailout money ever went to save even one American family from having their home foreclosed on. This is why Trump and McConnell discourage people from reading newspapers and history books. And, it is why the Democrats in the Senate are counseling us to go slowly on this mega bailout for the Wall St Gamblers. If we are going to give away tax money, let’s give at least some of it to the poor, not to the billionaires, who are already fleecing us daily.

Posted by Ron Nesler from New Harmony, Indiana

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