Friday, September 19, 2008

Political Man-Made Economic Crisis

Do you believe that economic crises can be man-made for political as well as economic gains?

Once again, we are acting because George W. Bush has put a gun to our heads. One year ago all this whole mortgage meltdown started after George W. Bush had demanded in 2004 that he wanted to see every American owning a home.

There was a CNN documentary that highlighted how his cronies rushed to target low-income, poor people that they knew could not carry a mortgage. They misled them into taking adjustable-rate mortgages knowing that when the mortgages reset at huge interest rates, the homeowners would be defaulting and they would benefit when these houses were foreclosed.

Then these technicians went a step further. They got AIG Insurance to insure these failed mortgages but didn't predict that the rate of foreclosures would be so rapid. These mortgages were bundled and sold as securities to investors around the world via stock market activities.

This all happened without any regulation or very little teeth in the system to stem the flow of this illegal activity. That is why I agree that we should not panic or act out of fear. George W. Bush has been able to push his agenda by fear each time.

9/11 is one of those times when he used our vulnerability and our fear to push his hidden agenda of war with Iraq. America wake up and if George Bush tells you to run, walk and if he tells you to walk, run like hell.

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