#1
the primary driver of the current crisis is accounting controll fraud.

led by the Ceo's, lead by the lending institution, and major banks and institutional buyers of toxix waste product.

how did it start, with mortagages, pirticularly non prime mortages.

in september of 2004, the FBI warned that there was an epidemic of mortagage fraud, and that this fraud would cause an economic crisis.

they also deduced that most of the fraud that was caused was being induced by the lenders not the boworers atleast 80%. Jp morgan, goldman sachs, meryl lynch etc bank of america, citi group.

Henry Paulson the man who ran the FED RESERVE himself a acknowldged representative of Goldman sachs, baisicly ran our economy during most of the bush administration.

this is what i can deduce so far, if this is true and the government knew this then why did we bail out the big guys and not the little guy?

theres more and more de-regulation everyday in our economy, and the repeal of the Glass Steagull Act, wich was established after the great deppression in 1933 to make sure bankers and wallstreat wouldnt allow this to happen.

the Act was repealed in 1999. now we know that the repeal of this act is now as we know it, one of the major factors for the Global financial crisis of 08-09. thanks to the repeal of the glass steagull act, investment and commercial banks were finnaly able to become one and the other and set up a climate similar to pre-great deprresion.

when asked if the repeal of the glass steagull act had somthing to do with the crisis ben bernanke head of the fed said "absolutely not".

if we new this was coming why didnt we do anything, why just let the house of cards fall. At this point are we in a reccesion , or are we in a reccesion heading to a depression? was this forseen and could have it been stopped.


is there a conflict of interest between the citizen at large, our government, and these oligarchs(bankers)?
what do you guys think.
Last edited by ishouldnow31 at Oct 22, 2009,
#3
tl:dr basicly its gna slump again

Edit: also thankyou david bowe for the insperation behind the collateralised debt obligations that got us in this ****ing mess
Without music, life would be a mistake.
Friedrich Nietzsche

Quote by noob888
I love you for that thread...


Quote by MightyAl
I am now mentally scarred by the image of Peter Crouch getting penalised.
Last edited by ryand111 at Oct 22, 2009,
#4
Sh8t happens. Get on with life.
Do you feel warm within your cage?

And have you figured out yet -


Life goes by?
Quote by Hydra150
There's a dick on Earth, too
It's you
#6
I disagree.
Quote by Pookie6
Yngwi3, You win this whole monstrosity of a thread.

Quote by uk.mace
For the best tingle, use Original Source mint. That shit feels amazing on your balls.


Godfather of The Diezel Mafia
#7
It's definitely more involved than that. I'm not gonna even try to explain it, because I can barely comprehend it myself. Moral of the story... we're fucked.
UG POKER!
Quote by WyvernOmega

TL;DR: Saw a girl at Wal-Mart, she started feeling me up, I jizzed in my pants.

Shit, I'm so pathetic.

[quote="'[BurnTheDusk"]']I agree, tone does sound better the closer your genitals are to the ground.

Crabcore?

UNACCEPTABLE
#9
Quote by mulletboy14
The Pit doesn't think.


We're just one big continuous conscience, moving forward without thinking.


We're like a giant Slime Mold.
[img]http://i.imgur.com/LYZyCdp.gif[/img]


Quote by CrossBack7
Momie's like not even a real person, just an asian, lesbian spirit.
#10
Lrn2Englshplz.
E-married to ilikepirates

Quote by bloodtrocuted93

How are you so fucking awesome at music?


>¦<
¦
#11
The conflict of interest is this, and get used to it;

YOU do not matter. I do not matter. Who matters? The people with money matter, that's who. Therefore, prepare to be continually @ssraped when situations like this arise, because our government will continue to send the little guy into war, or into poverty, as long as those in charge are A-OK!

Find it funny how all these bills get passed into law that NO ONE READS because they're 1,110 pages long? Amazing, huh?


How do you spell relief? R-E-V-O-L-U-T-I-O-N
Epiphone SG
Crate V-18 212
Xaviere XV-500
Boss PS-5 SUPER Shifter
Digitech Bad Monkey

SWINE FLU FREE SINCE 1974
#14
It's not that there was any mortgage fraud, or enough to cause a crisis, it was simply lenders thinking that the housing bubble would never burst (a stupid concept) and giving out loans nobody could afford.
#16
our economy?

The world wide web is for the whole world, d00d. The clue is in the name. I don't care about what people in your country do with their money.
#17
Quote by MoroneSaxatilis



How do you spell relief? R-E-V-O-L-U-T-I-O-N

yah of course. but how was it stopped. OBAMA. shit is still going to **** but hey OBAMA is our new president so things our diffrent now, BULLSHIT, hes just a puppet, that 50% of us voted in to office.

its funny how the FEDERAL RESERVE is run by the bankers themeselves who cause this problem, and still is, tim geitner used to work for JP-Morgan tresury secreatary, and Ben Bernanke is still the head of the FED same as bush, and there not accountable to anyone, not by you or me, Congress, the President, they can do whatever they want.

Its not even an American institution, the federal reserve is a global entity that is somehow our banking system.

I have to say its a moral obligation to walk into that place and lynch every MO FO.
or atleast pass some laws that limit there power, or give them some sort of accountability.
Last edited by ishouldnow31 at Oct 22, 2009,
#18
Quote by Mistress_Ibanez
our economy?

The world wide web is for the whole world, d00d. The clue is in the name. I don't care about what people in your country do with their money.


That's an equally self-centered claim to a self-centered accusation. What the United States does with their money has a massive affect on the UK. It's a global economy.
#19
Dude, all your posts are whining about the government. Gloom and doom.



Get outside. Breathe some fresh air. Go fishing or smth.
Meadows
Quote by Jackal58
I release my inner liberal every morning when I take a shit.
Quote by SK8RDUDE411
I wont be like those jerks who dedicate their beliefs to logic and reaosn.
#20
^^yes, 100% true, especially since the DOLLAR IS THE DEFACTO CURRENCY OF THE WORLD.

us as americans have an obligation to the rest of the world to be informed and make coherent decisions.

^I save that for my night walks along the river smoking a nice fat joint enjoying the stars above me. Gas to get there 3 bucks, gram of weed 20$, enjoying a great night care free, priceless.
Last edited by ishouldnow31 at Oct 22, 2009,
#21
Quote by KwikKopy
That's an equally self-centered claim to a self-centered accusation. What the United States does with their money has a massive affect on the UK. It's a global economy.


This. Pretty much the same for any developed country as well.
GEAR:
Fender MIM HSS Strat
VOX AD30VT
FUNDS: $600
#22
you know voting really opened my eyes.
opened by eyes to this facade of our REPUBLIC.
these politicians like to label themeslves republican, democrat, left, right, liberal, conservative, its all diffrent sides of the same coin.

obama said ben bernankek was an expert on the great depression thats why hes going to appoint him to another term for head of the FED.

this guy who said the glass seagull act had nothing to do with the our financial crisis.
and isnt willing to re-enact it.
if anything the repeal of this act gave these bankers the power to do what they did.\

NAFTA is a great example of how there all one in the same look at NAFTA and GAT as proof that there all in the same leuge.

clinton enacted it, Bush's party the republicans are obviosly totaly against this, but you saw NAFTA expanded under bush aswell, you think republicans liked the idea of this, OBAMA said "NAFTA was a mistake", " were going to stop NAFTA", gees what hes expanding it as well.
Last edited by ishouldnow31 at Oct 23, 2009,
#23
Quote by Momentosis
We're just one big continuous conscience, moving forward without thinking.


We're like a giant Slime Mold.

Or a Liquid Metal Slime worth 10,000 EXP that can only be found in the mountains...

Damn, I just waved the dork flag.
Do you feel warm within your cage?

And have you figured out yet -


Life goes by?
Quote by Hydra150
There's a dick on Earth, too
It's you
#24
I don't think you can point the finger at just one group. Everyone is to blame. If people are stupid enough to not read a contract that legally binds you for 30 years they are stupid. And banks were greedy.
#25
The Economy is Suffering...Let it die




#26
im more concerned bout social security. i wanna see my dad retire at a decent age.