Patsies of the "Global" Economy

Our negligent leadership is now wringing it's hands over the collapse of the house of cards economy exhibited by successive Wall Street banking, insurance and investment collapses. The Federal Reserve, a private bank without any oversight by Congress created by the Wilson White House, stands poised to now mortgage America's future on behalf of global and multi-national financial institutions who have raped, pillage and plundered here without any oversight from many of these foreign chartered institutions. American International Groups bailout, next to Fannie Mae and Freddie Mac, appears potentially to be the most expensive of all. We are being forced to watch while the Bush Administration and the current Congress mortgages our posterity's future, and is becoming more and more the fascist and socialist government our founder's feared under both the current political parties with each new headline and proposed "solutions." The "small government" McCain camp wants to enlarge government yet again by creating commissions to study the problems, I guess those jobs will be included in the statistics of the creation of new jobs. Obama just seems stymied except in offering his reassurance of the relief for the middle class which will occur under his administration. No one even mentions pulling the plug on the Federal Reserve, which was created by Congress to begin with contrary to the express language in our Constitution. If Congress and Wilson were going to abridge our Constitution in allowing a private bank to issue and value our currency, wouldn't you think they would be intelligent enough to at least have provided a "checks and balances" in strict oversight of such an institution? Just what are they waiting for, in investigating, legislating and auditing what is going on behind those closed doors at the American public's expense?

The Federal Reserve has unlimited power, and absolutely no accountability and has manipulated our currency now to the point where it is worth half it's printed value. Ben Bernanke simply presents a "report" to Congress annually, and there is no "check and balance" over it, or even it's Board members. It is a private organization which Congress unlawfully charged with the issuance and printing of our currency, and has global interests. Our economy became "global" due to the Federal Reserve's interests in foreign banking concerns. As a nation, the Federal Reserve continues to rob Peter to pay Paul in it's manipulated economy, and all at the American taxpayers expense.

Our country is at a crossroads, and most of those mortgage lenders had sold those mortgages as "at risk" investments on the exchange. Thus, there really is no underlying debt behind those deeds of trust, which means the foreclosures which are occurring are attempts to double collect on these mortgages in order to satisfy and appease mostly the foreign investors who bought those securities. Now, it appears since it was actually an Act of Congress which allowed these all these mortgages - subprime, ARM or fixed - to be bundled and sold on the exchange, it is asking the U.S. government which created this disaster to now bail them out. This Congressional Act was passed in the late 80's after the S&L disaster and bailout, when the money supply dried up throughout the nation and Americans were facing double digit interests rates for new loans, and were skittish. In order to "stimulate the economy" at that time, Congress loosened restrictions on the federally insured banks and lending institutions. Strangely enough, those in power now were in the thick of those disasters or had friends or family members who benefiting by the 'hands off' lending policies pre-Keating. These banks and their legislative lackeys criminal actions are now coming home to roost once again, and most likely those CEOs will come up smelling like a rose with their lifetime pension after the bailout.

History is repeating itself......maybe all those in Congress and Federal Reserve, past and present, who were involved in creating this disaster should now donate their salaries and pension plans and be personally responsible now for fixing it.