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Spitfire of ATJ

(32,723 posts)

50. They had the ultimate here....

Fri Jun 26, 2015, 01:53 PM

Jun 2015

Multiple schemes:

They came up with a way of making money off of those mortgages failing and started selling $40k houses for $300k to people earning minimum wage knowing they would lose them. They sold overly inflated securities backed by the future projected earnings of overly inflated mortgages. They then catered to people's greed by conning those who already owned their homes into "sub-prime" loans and then selling their loan out from under them to someone else who refused to honor the original contract and demanded a balloon payment or doubled and then quadruped their payments and then foreclosed on them, thus putting their house up for sale in the over inflated market to another sucker to repeat the cycle.

Our government did nothing to stop any of it and even gave it their blessing as an example of American Capitalism.

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Highlight:

It’s not just Fox News: How liberal apologists torpedoed change, Making Dems Safe for Wall Street. [View all] KoKo Jun 2015 OP

Wow. Great article. Thanks KoKo! kath Jun 2015 #1

Thanks...he makes so much sense and cuts through so much crap we've been led to believe... KoKo Jun 2015 #5

K&R abelenkpe Jun 2015 #2

"Foaming the runways" is a good description of what this administration does for crash-landings villager Jun 2015 #3

K&R..... daleanime Jun 2015 #4

Thanks! Marking to read later. nt Mojorabbit Jun 2015 #6

Rec until the end of time. PowerToThePeople Jun 2015 #7

A Thousand Thanks, KoKo!!! RiverLover Jun 2015 #8

I don't think Bernie is going to compromise his principles. kentuck Jun 2015 #51

If he had fought them like he is fighting for the TPP, bvar22 Jun 2015 #53

The president's apologists are not liberals, and any liberal who dares to criticize him Doctor_J Jun 2015 #9

+1 Vincardog Jun 2015 #30

+1 Enthusiast Jun 2015 #38

Yep. The Democratic leaders wanted them to work out that way. antigop Jun 2015 #10

Damn Aerows Jun 2015 #11

coming back to tomorrow rurallib Jun 2015 #12

Thank You - I Will No Longer Settle For The Lesser Of Two Corporate Evils - Go Bernie Go cantbeserious Jun 2015 #13

Explains the so-called leadership of the Dem party, truebluegreen Jun 2015 #14

I regret that I have but one Rec to give to this thread. nt Buns_of_Fire Jun 2015 #15

Kick. GoneFishin Jun 2015 #16

Bernie is our only hope. DamnYankeeInHouston Jun 2015 #17

WE are our only hope dreamnightwind Jun 2015 #56

Well, duh. OnyxCollie Jun 2015 #18

A Liberal would have bailed out the homeowners and jailed the bankers. Spitfire of ATJ Jun 2015 #19

Or at the very least put the bankers on trial. nt cstanleytech Jun 2015 #20

Nope, frogmarched from their office before the press and I'd refuse to grand them bail. Spitfire of ATJ Jun 2015 #21

If we would have bailed out the homeowners/buyers the banks still would have gotten their money. Enthusiast Jun 2015 #39

From what I read the total bailouts equaled the value of ALL of the real estate in America.... Spitfire of ATJ Jun 2015 #45

Twisted people prey on the defenseless. Enthusiast Jun 2015 #48

They had the ultimate here.... Spitfire of ATJ Jun 2015 #50

It is almost beyond belief. And yet many continue to call for even greater deregulation. Enthusiast Jun 2015 #52

There are Dems strutting around proud they made the rich richer. Spitfire of ATJ Jun 2015 #55

Except the government took the money back from the bankers, with interest Recursion Jun 2015 #58

and fuck people. this is about the bottom line, dammit. frylock Jun 2015 #59

Basically. I just was pointing out that's why TARP happened how it did: it cost nothing Recursion Jun 2015 #60

Nonsense. Enthusiast Jun 2015 #61

I'm not talking about secondary effects; I mean the TARP banks wrote the treasury a check Recursion Jun 2015 #63

Yes. We rewarded the wrong doers and punished the victims. Enthusiast Jun 2015 #65

True, but the reason we didn't bail out homeowners is because it would have cost money Recursion Jun 2015 #66

I have been reading into partisanship nadinbrzezinski Jun 2015 #22

Yes. RiverLover Jun 2015 #25

+1,000 n/t Aerows Jun 2015 #27

The "Centrists" in the Democratic Party are Conservatives wishing they were Republicans. Spitfire of ATJ Jun 2015 #47

I will not go that far nadinbrzezinski Jun 2015 #49

huge k and r!! bbgrunt Jun 2015 #23

Allies on "the important stuff" ... nikto Jun 2015 #24

Sickening Aerows Jun 2015 #26

Those 2 fuckers ... nikto Jun 2015 #33

Betrayal. L0oniX Jun 2015 #28

K&R ReRe Jun 2015 #29

Talk about truth to power...this is it. zeemike Jun 2015 #31

Not a single Aerows Jun 2015 #32

K & R. Knew it was Tommy Frank when I got to the 2nd paragraph, glanced over his name in the header. appalachiablue Jun 2015 #34

K&R for one of the most important posts on DU in years. Scuba Jun 2015 #35

+1 Enthusiast Jun 2015 #40

kick kentuck Jun 2015 #43

Occam's Razor. magical thyme Jun 2015 #36

K&R! No doubt in my mind. This is why I have been so fucking mad these past years. Enthusiast Jun 2015 #37

K&R Great article and required reading for those who truly desire change. raouldukelives Jun 2015 #41

A "come to Jesus" moment with the truth... kentuck Jun 2015 #42

Thank you for posting this. eom Betty Karlson Jun 2015 #44

I think everyone should have an opinion on this... kentuck Jun 2015 #46

DURec leftstreet Jun 2015 #54

K & R LWolf Jun 2015 #57

Rank and file Democrats expect Democrats to work within the economic framing of tried and true myrna minx Jun 2015 #62

The party establishment has been talking trickle down economics for years. Marr Jun 2015 #64