Stearns Child
How does America have the money for both but both litle?
We can not feed and clothe every child in America, but we can allow 60 billion U.S. dollars to bail out Bear Stearns. We can not provide decent health care for the elderly in the U.S., but we can give 85 billion AIG insurance dollars. We can not lift a finger to help Americans losing their homes, but can deliver up to U.S. $ 1 trillion to Fannie Mae and Freddie Mac We not have the funds to provide proper care and support to American veterans, but can afford up to $ 600 million to buy Lehman Brothers assets pledged. We can do nothing to stop the flow of jobs offshore and alleviate the suffering of out-of-work Americans, but we can hand over 700 billion U.S. dollars a guy who, until two years ago, ran the problem of creating the main company: Goldman Sachs. We can not afford to adequately educate our children to adapt to a changing America, but can afford 1 trillion U.S. dollars for a war that Cheney and Bush knowingly lied to us.
Leavin, I'm an amateur in the economy, but here is my best answer to what counts. The fact is they have no money for anything like that. This country not only broke, but our grandchildren BE bankruptcy when our parents paid for health insurance and social security. This saves you see now are the result of the deregulation of financial sector conferences in 99. Bill Clinton signed a law eliminating Steigall called glass, which prevented investment banks from commercial banks not to touch. The politicians did so because were bribed to. When you hear the "special interest" lobby "or" community organization ", cover your portfolio. The mortgage industry has been sued over and over again by the NAACP and the ACLU every time he was denied a loan to a customer of minorities, even though customers do not meet the requirements for purchasing homes. Therefore, Freddy Mac and Fanny Mae, which were origionally designed to keep the rest of the industry under control in terms of interest rates and financing options, started lobbying the Congress and President Clinton with millions of dollars in bribes. Some of it went straight to the Senate campaign Hillary Clinton! When Clinton signed the repeal of Glass-Steigall, Fanny and Freddy started issuing bad loans IMMEDIATELY, initially workers Detroit automakers and ethnic poor people in Chicago, where Tony Rezko was filled slums, with Obama as his running block attourney. When loans began ARM to readjust the interest rates rose to insane rates, initially with the intention of selling the loans off to other banks. These new buyers loans buy them because they paid higher interest. If people could not pay, before going to foreclosure that package these loans into packages of loans that were not in arrears and borrow money against them. Without the "wall" of glass, securities companies to buy these packages to issue securities against them. These are "mortgage-backed securities. When most jobs in the communities where it started went abroad (as a result of NAFTA and the WTO) people became unemployed and could not move because they had these houses would not sell. The housing boom never came to these communities without industries providing jobs, and taxes through the roof on business, none were coming. These taxes not lift up the community, they kill. Charity comes from charity, not excessive taxation. When the homeowners could no longer afford the mortgages, we saw entire communities foreclosure. This leads directly crime, and the creation of a ghetto, where once was a working class community. As banks began to organize more foreclosures, houses began to be destroyed by the pipes and wiring, when copper rose due to the growth of Chinese industry (the intent of WTO). Finally, when the values are not returns paid to the selling, securities firms began to default. The problem was that there was a total lack of maintenance of fire of these separate industries and result of political bribery and Representatives Democrats alike. IndyMac Bank was the first default, when it became clear that the loans could not cover who brought with subprime mortgage collateral. Then Bear Stearns went down, which issued bonds in loans from IndyMac. Recently, AIG got into problems due to insurance issued in all of these obligations. Lehman Brothers fell to the brokerage everything. Now, the politicians are saying the cause of the problem with your finger! The two presidential candidates both were involved in the original corruption. Obama in the organization of the costumes with the NAACP, and McCain's vote for the dregulation. Now that Congress has to vote for the bailout, neither of which is shown to cast their vote. The bailout is only the Federal Reserve (which is a taxpayer-funded, however, privately owned bank) the printing of more U.S. currency (which is unconstitutional) and therefore further devalue the U.S. dollar. Now that is change I can believe, and put America first!
Congressman Stearns’ Remarks on CF Awareness Resolution
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