Originally posted by Ratmagiclady If someone wanted to oppress America, would they do it *that* way... through a concept people irrationally despise, or through some things people are taught to blindly and irrationally clamor for? Like religion, 'the free market,' and certain propagandists for sch?
No, what they would do is force banks to lend money to those who could not repay it, through some such law as the Community Reinvestment Act (1977, signed by Pres. Carter).
When told by bankers, (including a former Sec'y of the Treasury), "we really can't do that," they would then change the laws so the banks COULD do that (Graham Leach-Bliley Act of 2000, signed by Pres. Clinton).
The ability to both lend and borrow the same securities thus restored, which had been prohibited since the great Depression, would then create an opportuinity to create a pool of wealth to lend to unworthy borrowers (who would vote for the very persons who created the opportunity) - BUT -
There would be no ready buyers for these "worthless" securities.
So one would need to install
more friendly former government officals of the politcal party (recently denied the Presidency twice) as Directors of semi-public corporations that could obligate the citizens of the United States to guarantee these investments.
Mirabile dictu!! Fannie Mae (Jamie Gorelick), Freddie Mac, Citigroup (Sandy Weill and Bob Rubin), Wachovia (Bob Steel), AIG (Ace Greenberg), Bear Stearns (James Cayne), Lehman Brothers (Dick Fuld), Cong. Barney Frank, Sen. Chris Dodd (special CountryWide VIP mortgage), Alan Greenspan (Clinton nominee), (Larry Summers mis-fired at Harvard, but he's baaacckkk).
Any guess which party they're ALL registered in?
And the best part is, when it all blows up, they take their personal wealth and go home, blame "Wall Street," collude with the SEIU and ACORN to steal an election, take away the freedoms of all the responsible people and blame it all on capitalism!!!
THAT'S how you destroy free-market capitalism if you are a socialist. You become a capitalist and destroy it from the inside.