Forum Post: The Federal Reserve, a representative4corporate BANKS raised interest rates 17x in a row( '03-'06) after keeping low, meanwhile Wall St. securitized mortgage debt and BET AGAINST -End result-MILLIONS lose homes while System is bailed out by PEOPLE'S MONEY
Posted 13 years ago on Nov. 18, 2011, 8:17 p.m. EST by FedWallFedWellFedUP
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The Federal Reserve, a representative4corporate BANKS raised interest rates 17x in a row( '03-'06) after keeping low, meanwhile Wall St. securitized mortgage debt and BET AGAINST -End result-MILLIONS lose homes while System is bailed out by PEOPLE'S MONEY
thanks jonolith...you get it
Incoherent gibberish.
Let me translate.
The Federal Reserve, which is owned and operated by Private Banks, raised interest rates seventeen times in a row through 2003-2006. However, during this time they continued giving out bad mortgages. In the mean time, Wall St. set it up so that those mortgages would fail, while also betting against those mortgages. The end result is that Millions of people lost their homes, and Wall St. made money from the tax payers.
Is that clearer?
May I add another aspect to this. Naked credit default swaps also had a hand in bringing financial calamity. This is what brought AIG down. And then they got bailed out. I think the sequel is about to happen though and when the European Central Bankers refuse to play by our Fed's rules, I think we will see Part 2 of the financial crisis and if we're lucky the too big to fail banks will finally have their knees broken.
Your argument is cut & paste simplistic. Which "interest rates" were raised 17 times in a row? Fed Funds Target? 1 month Prime Rate? But I agree that the Federal Reserve is not to be trusted.
who bought you? or I mean writes your paycheck?
I have an education. I have forgotten more about central bank interest rates over the past 20 years than you will ever know in your entire lifetime. You need to edit your posts. They do this site a disservice.
you are incoherent...you make no sense
and the PEOPLE'S NEEDS for jobs with good income, decent housing, medical care are LARGELY ignored!!!
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