Monday, September 22, 2008

A surprise? I don't think so.

Everyone in D.C. would like to say that they were taken by surprise by the depth of our financial collapse; I beg to differ.

Here is a link to a report that was put together by the FBI in May of 2007. It is the 2006 Mortgage Fraud Report.

Here's one in 2005. Feds Warn Against Mortgage Lenders

They saw this coming.

What did these financial institutions do to prevent themselves from getting to this point once they received the warning signs?

2 comments:

Ad Hoc Committee for Property Rights said...

They had no reason to act responsibly. They had Uncle Sam-- that is the American taxpayer-- at their back.

Question: Why didn't you address going off the gold standard, which is the fundamental reason for this?

A Girl From Texas said...

Do you think it's possible to go back to the gold standard? I'm very optimistic about our future but I don't think that is ever going to come back.