US banks leading way to world recession.
US Banks involved in LEGAL criminal enterprises are leading the charge into
Incorporating in states with out consumer protection laws, usury credit card interest rates
33% to 99%, rates if interest that used to put the Mafia in prisons.
Fraudulent home loans, fake loan application data, bundled then sold to Freddie mac and Fannie may. Which now the government want the tax payers to pay for, lead to the sub-prime debacle.
And through lobbyest trapped the consumers in the criminal interest rate scam by changing the
The banks had period of record profits and have a major contributor to the coming world recession.
Of course OPEC has contributed with record high oil prices, shooting its self in the foot,
the Opec nations will suffer in this recession also as oil consumption drops during the recession.
- Converging vectors:
Black Internet ( criminal ) + corrupt credit reporting agency's ( they have the ability to stop ID theft and the CC fraud )
The banks and credit card companies make money off this criminal theft.
Much like the loans made by banks for real estate to bad credit risks, and then sold to Government agencys, the profit for the banks is not in the interest rates but in bundling the loans and re-selling them.( 2007 subprime mortgage financial crisis.)
The repeal of the Glass-Steagall Act of 1933 was a good example of the Lobbyist buying the politicians. There were links to the Great Depression and American Banks, hense theGlass-Steagall Act of 1933, to seperate banls from the investment arena.
I have seen bank interest rate charges of 99%. Yes thats 99% interest a year. USA used to put the Mafia in prison for that.
Now with banks incorporated in States without consumer protection laws and lobbyist to buy legislation protecting the criminal enterprises the banks are becoming a criminal enterprise enabling criminals and terrorists.
The Mafia just didn't have the right lobbyists.
- We can start the finger pointing with the congressmen and senators who sold their votes to repeal the lGlass-Steagall Act of 1933 and changed the bankruptcy laws.
- Anybody know their names?
Series 7 & 13
Series 7 & 13
Feds in Freddie and fany may Rescue $200 billion. Thank you Banks.
Sub prime mess, thank you Banks.