Posted 5 years ago on June 2, 2012, 4:09 p.m. EST by hchc
from Tampa, FL
This content is user submitted and not an official statement
The number one asset for Americans = Houses.
Before the Bush "Ownership Society" (the Fed just rolling out its current puppet to push its policies), around half the property in the country had a mortgage. It was all paid off.
After the easy money nonsense, over 90% now has a mortgage. Everyone either refinanced, or sold and bought bigger.
The banks were only generating income on 50% of their biggest income generators.
Now they are operating at almost 100%. This alone should be reason to not give them any breaks.
Reinstate Glass Steagall, and ENFORCE IT. Audit the Fed and put in Congressional voting/approval stop-gaps for any printing. Remove the SEC and create a new agency with people with brains AND balls.