Jeremy Hillary's Comments
One more thing.
The people who will be hit the hardest right away, and for a long time to come, are the pensioners, the ones who just retired, are retiring, or are retiring soon. A huge chunk of their savings, their future, the comfort they had hoped for for so long, just went up in smoke.
These are the people who had been stuffing cash into the system for years, the people who had been keeping the system going. These are the people who thought the bubble would be their "rainy day".
Well, this is their bubble. This is their "rainy day". And it's blowing through like a hurricane off the Gulf of Mexico.
For those who are still earning and saving, feel for them.
Tomorrow, it will be you.
The people who will be hit the hardest right away, and for a long time to come, are the pensioners, the ones who just retired, are retiring, or are retiring soon. A huge chunk of their savings, their future, the comfort they had hoped for for so long, just went up in smoke.
These are the people who had been stuffing cash into the system for years, the people who had been keeping the system going. These are the people who thought the bubble would be their "rainy day".
Well, this is their bubble. This is their "rainy day". And it's blowing through like a hurricane off the Gulf of Mexico.
For those who are still earning and saving, feel for them.
Tomorrow, it will be you.
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Everyone knew the housing bubble couldn't last, that it wasn't "real", that it was all just way too easy. We all had that feeling. We all knew. We all thought, "This is too good to be true." Well, we were right.
So how did we get here?
Subprime mortgages? Bad debt? Easy money? Where did they come from?
Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam (C-span footage)
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae (C-span footage)
http://www.youtube.com/watch?v=usvG-s_Ssb0
Time Warner who contributed over $300,000 to Barack Obama's campaign has already tried to force a takedown of the following video that just over the weekend had jumped from 200,000 to over 1,000,000 hits. But people are reposting it and reposting it.
Burning down the house: What Caused Our Economic Crisis?
http://www.youtube.com/watch?v=TxgSubmiGt8
As for those out there who would be thrilled to see Wall St. go belly up, please think deeper. Wall st. IS Main St. There are a lot of jobs, a lot of families, a lot of homes, a lot of lives at stake in this disaster, this well-engineered disaster, and not just white-collar ones. These companies finance other companies, manufacturing companies, even green companies. Lehman Bros. was a big backer of Al Gore's green projects. If you look more closely at who were financed by, and who in turn financed these Big Bad Wolves of Wall St., you'll find lots of companies from both camps, and many - if not most - who couldn't give a damn about Hatfield-McCoy politics, who will suffer tremendously from all this.
And for what? So the Dems could champion "affordable housing" without getting their political hands dirty by raising taxes. Subprime mortgages and easy credit was their Camelot. They forced lenders to issue subprime loans to people who couldn't afford to pay, and they championed easy credit to anyone who wanted them but mostly to those financially ill-equipped to play the money game.
For years, the Dems have consistently propped up Fannie Mae and Freddie Mac as "The Untouchables". They're still propping it up and will keep propping it up until the blood becomes just too overwhelming to ignore.
So how did we get here?
Subprime mortgages? Bad debt? Easy money? Where did they come from?
Democrats in their own words Covering up the Fannie Mae, Freddie Mac Scam (C-span footage)
http://www.youtube.com/watch?v=_MGT_cSi7Rs
Fannie Mae CEO calling Obama and the Dems the "Family" and "Conscience" of Fannie Mae (C-span footage)
http://www.youtube.com/watch?v=usvG-s_Ssb0
Time Warner who contributed over $300,000 to Barack Obama's campaign has already tried to force a takedown of the following video that just over the weekend had jumped from 200,000 to over 1,000,000 hits. But people are reposting it and reposting it.
Burning down the house: What Caused Our Economic Crisis?
http://www.youtube.com/watch?v=TxgSubmiGt8
As for those out there who would be thrilled to see Wall St. go belly up, please think deeper. Wall st. IS Main St. There are a lot of jobs, a lot of families, a lot of homes, a lot of lives at stake in this disaster, this well-engineered disaster, and not just white-collar ones. These companies finance other companies, manufacturing companies, even green companies. Lehman Bros. was a big backer of Al Gore's green projects. If you look more closely at who were financed by, and who in turn financed these Big Bad Wolves of Wall St., you'll find lots of companies from both camps, and many - if not most - who couldn't give a damn about Hatfield-McCoy politics, who will suffer tremendously from all this.
And for what? So the Dems could champion "affordable housing" without getting their political hands dirty by raising taxes. Subprime mortgages and easy credit was their Camelot. They forced lenders to issue subprime loans to people who couldn't afford to pay, and they championed easy credit to anyone who wanted them but mostly to those financially ill-equipped to play the money game.
For years, the Dems have consistently propped up Fannie Mae and Freddie Mac as "The Untouchables". They're still propping it up and will keep propping it up until the blood becomes just too overwhelming to ignore.
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Burning down the house: What Caused Our Economic Crisis?
http://www.youtube.com/watch?v=F0Dy1jAXnIw