Wall St Banks hold economy hostage.
Whats wrong with the Economy?
Ford and the Automotive section are doing well.
But Jobs and Housing are not so good.
Wall St Banks are making record profits.
Credit Cards 30%, pay day loans 460%,
Bank loan sharking bringing in huge
Flash crash and programed trading
and speed trading plus the Dark
pools also are yielding huge profits.
Why the Wall St Banks are doing so
well they paid out Billions on bonuses.
( even while accepting bailouts from
the Tax payers. )
And now the Banks are in for another
wind fall collecting, er Foreclosing
on millions of American homes
after defrauding them with sub-prime
loans they knew they couldn't repay.
Even those that could repay they scammed
offering lower payment trials, then demanding
huge balloons after the fact.
But the snag in the economy seems to
be the BANKS are not lending.
The Wall St Banks continue their strangle
hold on the American Economy.
They almost brought down the World
Banking system with the Credit
And the Treasury thru the Federal Reserve
bailed them out twice.
The first loan was $2 trillion dollars.
The second bail out was secret,
your home town banks got Millions,
very quietly, to the Tune of the amount
of subprime paper they were holding.
Hoping that the banks would feel
secure enough with a reimbursement
of the subprime paper value to
start making loans.
But it didn't happen.
The Banks are allowed to
defraud the public by listing
the subprime paper at 100%
And this is in part the problem.
Banks don't trust each other.
All the banks have fake, falsified
balance sheets, and they all know
They are all afraid the other is
going to crash and bring them down.
So no one is making loans.
Secondly and even more insidious
is as long as the Banks are not making
loans they have the upper hand.
The Wall St banks have some how
convinced the Government the banks
can't afford to make loans.
Even with the biggest profits in history.
The Wall St Banks just spent $251 million
lobbying congress, the automotive industry
spent $5 million, who are they buying?
They even have the Republicans backing
the Bank Billionaires tax breaks for $700 billion
dollars, while trying to defeat health care for
all Americans, coincidentally $700 billion
The Wall St bankers are willing to let
a few thousand poor die for a $700 billion
tax break for them selves.
The problem with the Economy are
the Wall St Banks.
Force the banks back to Banking,
and with that as their only source
of income they WILL make loans
the Grease for the American Economy.
8% or 12% banking loans are just
a waste of banking man power
when they can make 30% on credit
cards and 460% on pay day loans
and billions on speed trading and
flash crashes, and Trillions
on sub-prime fraud.
And no one goes to prison for
Loan Sharking, congress just approves it.
Made loan sharking legal for Wall St
Wall St Bank Robber Barrons
Wall St Bank Robber Barrons
The regulators are NOT governing the
Wall St Banks, the Wall St Banks are
holding the American Economy
And DHS or the FBI can't do a damn
Series 7 & 3
.Gerald NYSE trading Floor,