Treasury's new plan?
By Gerald: Internet Anthropologist Think Tank
Nov. 13, 08
The sub-prime debacle is to be followed by a second debacle
Subprime Mortgage linked Loans and other Assets (USD 1.5 trillion);
Credit Cards Outstanding Debt (USD 2.5 trillion);
The second debacle will be brought to you by the same folks
that caused the sub-prime mess, Banking Corporations.
From loaning money at usuary rates ( read criminal ).
And again repackaging them as equities.
These criminal banking cartels have twisted current laws,
regulations and bankruptcy laws to persue their victims
to the grave.
Some of the criminal activities their Lobbyists have gotten
Changing intrest rates and fees "at any time, for any reason."
Approving charges that exceeds credit card limit then acessin over the limit fees and
Double cycle billing
And numerous tricks to invoke penalties.
Banking income from penalties of $18 BILLION. ( 2007 )
The banks creat a Master Trust packages and sells credit card assets to
Wall St. to Investors, pension funds, insurance companies, and hedge funds.
The Credit card Co.s and bank holding Co.s have extended credit
to many they know will default, knowingly making bad loans
Which are then turned into securities and sold to others,
after collecting huge fees and intrest charges.
The credit card industry are headed for a sub-prime like
And the criminal CEO's are being bailed out by the tax payers.
Still no prision time.
USA is looking at the worst Christmas in USA history.
G7 Economic Meeting this weekend.
( sorry Google formating still screwing up )
Labels: Treasury's new plan?