It was all a scheme where the banks borrowed a ton of money from the Fed and stuffed it down the pipe.  Each thief along the route down extracted his percentage.  When it got to the bottom, what was left was spread around by predatory lenders with the foreknowledge that all this was going blow up when the exorbitant mortgage payemts came due. 
They then wrapped up the mortages and sold them overseas.  My question about the last part is who in his right mind would buy something like that.  Don’t they have sharks of their own who visit the US once in a while who can tell the difference between shit and chocolate ice cream?

MICHAEL HUDSON: President of the Institute for the Study of Long-Term Economic Trends, Distinguished Research Professor of Economics at the University of Missouri, Kansas City, and author of Super-Imperialism: The Economic Strategy of American Empire. He is the chief economic adviser to Rep. Dennis Kucinich

MICHAEL HUDSON when asked if the AIG bailout was the right move, said:

“No, it’s the worst possible move, and it puts the class war back in business with a vengeance. Wall Street has been preparing for this for years, because every financial analyst knows that the debts can’t be paid. And the question that Wall Street has, if you’re going to take a gamble on bad debts that can’t be paid, how are you going to come out a winner? And there’s only one way of coming out a winner, and that’s to make the government bail you out. This has been known for years, because it’s inherent almost in the mathematics of compound interest. Every banker I know knew that the loans they were making were going to go bad. They were trying to sell them to somebody else, ultimately expecting them to end up with some sovereign wealth fund.”

This is just one of the steps into Amerikan Imperialism.  They are leaving this mess to shackle the next admininstration.  They take their cues from history.  These harsh economic conditions will set the background to a confrontation with Russia, China, Iran, and South America.  Right now the US, France and Britain are amassing an armada in the Persian Gulf.  They just about have all the money and they have the most technically advanced weaponry.  They seem to be convinced that this is their time.

This is not the work of the master but the work of a cabal of “investment bankers,” which are being bailed out by the government to the tune on now 1Trillion dollars.
These investment groups have nothing to do with commercial banking, the kind of banks that lend money to consumers, but they are the worst kink of avaricious and greedy men and women for whom this administration can think of nothing better to do then to bail out their mistakes.
I am truly appalled at the thought of this government bailing out speculators of the worst kind, for while Wall Street burns and they fiddle the government is giving them a pass on the fact that just last year, these men and women gave themselves bonuses of near 100 Billion dollars in just one company alone.
This is the most egregious example of a government supporting the rich while the poor, like myself, living on SSI, cannot find enough money to pay bills.
Yet, this is only a market adjustment! How dare this inept and inadequate “commander-in-chief” term his bailout of his friends, a market adjustment. Are we truly to believe that the market will right itself without government help?  Apparently not, for the government has already bailed out numerous companies and will continue to do the same without regard to the consequences for the people.
Talk about high crimes and misdemeanors! Just another example of the rich taking care of the rich, corporate welfare at its highest and worst.

I’m still wondering what happened to Pierce, Fenner and Smith.

The Stewart man rocks! The solution to America’s financial Armageddon is simple. EAT THE RICH! Bring back the guillotine! Where’s the Robes home-boy when we really need him!