Bankers as Terrorists: Mortgages in the Era of Mass Terror

[eridani]

http://readersupportednews.org/opinion2/430-foreclosure/17269-mortgages-in-the-era-of-mass-terror

As the New York Times reported, "The banks that created risky amalgams of mortgages and loans during the boom - the kind that went so wrong during the bust - are busily reviving the same types of investments that many thought were gone for good."

In other words, the well-heeled boys are back in town, peddling predatory mortgages to be bundled and sold on Wall Street. Even the Times, generally bullish on business, struck a cautionary tone. "The revival also underscores how these investments, known as structured financial products, have largely escaped new regulations that were supposed to prevent a repeat of the last financial crisis."

Warnings of a repeat of the last financial crisis - printed on the front page of the New York Times?

Yet, unlike the 24-7 coverage of Boston, the national response to the threat of economic mass destruction has been muted. That's because almost no one openly discusses the ongoing foreclosure crisis in terms of domestic terrorism. But that's exactly what it is, and we must recognize this if we want to prevent banks from causing more damage.

[msongs]

1. nobody's afraid of the obama administration or congress lol nt