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Let’s Be Honest: The Real Problem With Our Financial System Is The American Dream
NY SLimes via Business Insider ^ | 12 June 2010 | Joe Nocera

Posted on 06/12/2010 8:35:29 PM PDT by combat_boots

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To: DB

Town government around here want’s people to live on one acre lots in 400,000 dollar homes. So, you have one layer of government screwing up another layer of government with the taxpayer or low income/modest workers paying.

Nice.

We’ve met the enemy, and it is our governments.


21 posted on 06/13/2010 1:26:56 AM PDT by Leisler ("Over time they create a legal system that plunders and a moral code that glorifies it." F. Bastiat)
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To: combat_boots

Let’s Be REALLY Honest: The Real Problem With Our Financial System Is an Un-American President and his little helpers in Congress.

Correction: Anti-American President


22 posted on 06/13/2010 6:02:02 AM PDT by RoadTest (Religion is a substitute for the relationship God wants with you.)
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To: sayuncledave
To force banks to mark all of the real estate values down to market would mean instant insolvency for all banks. There would not be a financially solvent bank left in America. Most mortgages are upside down with negative equity in today's market.

The practical result of such a move would be to reduce assets of banks to values far below their liabilities.

23 posted on 06/13/2010 8:29:46 AM PDT by NoControllingLegalAuthority (As Wichita falls so falls Wichita Falls)
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