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director
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Posted - 03/20/2009 :  11:25:40 AM  Show Profile  Reply with Quote
Here is an excerpt from what can be found at Mr. Jim Jubak's website. For the complete story, click on this link.

http://articles.moneycentral.msn.com/Investing/JubaksJournal/fluke-credit-crisis-was-a-heist.aspx?OCID=eml_msnnl_6009.13.2.17&REFCD=emmsnnl_6009.13.2.17

Fluke? Credit crisis was a heist

Thanks to a complicit Congress, the reins were systematically loosened on the looters of the financial industry. And they're still at it, looking for new plunder.
[Related content: AIG, Congress, Federal Reserve, financial crisis, Jim Jubak]
By Jim Jubak

It was no accident.

The folks in power in Washington and on Wall Street want to pretend that the current global financial crisis -- you know, the one that reduced household net worth in the United States by $11.2 trillion in 2008, according to the Federal Reserve -- was an accident caused by some unfortunate confluence of greed and asleep-at-the-switch regulators.

What we're now living through, though, is the result of a conscious, planned looting of the world economy. Its roots stretch back decades. And it wouldn't have been possible without the contrivances of the bought-and-paid-for folks who sit in Congress.

Of course, just because the plan blew up on the looters, taking off a financial finger here and a portfolio hand there, you shouldn't have any illusion that they've retired. In fact, in the "solutions" now being proposed -- by Congress -- to fix the global and U.S. financial systems, you can see the looters at work as hard as ever.

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