Remember me? Wall Street repackages debt for sale

Remember me? Wall Street repackages debt for sale

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WASHINGTON (AP) -- Wall Street may have discovered a way out from under the bad debt and risky mortgages that have clogged the financial markets. The would-be solution probably sounds familiar: It's a lot like what got banks in trouble in the first place.

In recent months investment banks have been repackaging old mortgage securities and offering to sell them as new products, a plan that's nearly identical to the complicated investment packages at the heart of the market's collapse.

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When the cats away the mice will play. Now that they have all of the public distracted with fear of socialism and pandemic, the "Bankers" are at it again. The deterioration of our country is happening at so many different angles that it seems almost impossible to stop.

The bankers cannot be allowed to practice the same ethics that got them into the mess that they are in now. Maybe if they would focus on lobby reform and financial reform more Americans will be able to afford healthcare.

It seems as if they are trying to push their luck with the American people. They are trying to take it as far as they can, and we let them. The bailouts were a taxpayer's nightmare, now we will have to hand down that nightmare to future generations in the form of a huge national debt and now the possibility of the same occurances happening again.

We do not need another financial crissis.

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(visit the link for the full news article)

reply to post by LeaderOfProgress

We do not need another financial crissis.

If it makes you feel any better, this isn't "another" financial crisis, this is the same one. We aren't even close to being out of the woods.

Originally posted by Karlhungis
reply to post by LeaderOfProgress

 

We do not need another financial crissis.

If it makes you feel any better, this isn't "another" financial crisis, this is the same one. We aren't even close to being out of the woods.

I am not saying that it is "another" fincancial crisis. I am say that we do not need to allow our future generations to bear the same burden that we are now. I am saying that if and when this one is over we will once again have the stage set by the "bankers" for a new financial crisis.

reply to post by LeaderOfProgress


Unfortunately we've already screwed up the future for a dozen generations to come.

The thing to do would be to wipe the system clean and start anew with the hope that in the future they don't become complacent and afraid to fix things like many people are today.

Originally posted by warrenb
reply to post by LeaderOfProgress

 

Unfortunately we've already screwed up the future for a dozen generations to come.

The thing to do would be to wipe the system clean and start anew with the hope that in the future they don't become complacent and afraid to fix things like many people are today.

just out of interest, how could the system be wiped clean? What would wiping clean involve. It seems like common sense, but what are the practicalities?

This is how short minded the American people get. Obama and his goons have kept everyone jumping with all his BS and craming crap down our throats. In the mean time, nothing have been done about the banks or Wall Street.
No reform what so ever.

reply to post by woodwardjnr


The EASIEST way to 'start from new' is to kick start the old system simply by 'forgetting' ALL the debts owed by people,businesses and foreign countries. But unfortunately the Bankers and TPTB just want to own everything and hows the best way to own it all? By having debts people and businesses can't get free from.

And guess who is buying, China.

The only reason the financial corrupted institutions are doing this is because now the got the tax payer suckers backed by the government to pay for their loses.

Wake up America remember too big to fail means we will be paying for loses for ever.