"Here are some numbers for you. There were approximtely $1.4 trillion worth of subprime loans outstanding in the United States by the end of 2007. By the first quarter of 2009, there were forclosure filings against approximately 4.4 million properties. If it was only the subprime market's fault, $1.4 trillion would have covered the entire problem, right?
Yet the Federal Reserve, the treasury, and the FDIC forked out $13 trillion to fix the housing "correction"… With all that money, the government could have bought up every residential mortgage in the country – there were about $11.9 trillion worth at the end of December 2008 – and still have had about a trillion left over to buy homes for every American who couldn’t afford them."
Got that? $13 trillion to fix a correction. She goes on to say that these bailouts were always more about paying off bets than stabalizing the economy. So that's it. Since not one bank exec has been brought up on charges, let alone convicted and jailed for any of this shit, it's time to acknowledge that the "American Dream" has become just that; a dream. Reality is that sign sitting in front of 'your' house.
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