NYC is the financial capital of America, during the period 2000-2008; do you honestly think Major Bloomberg was not aware of his industry partner’s greedy activities with deregulation and the Wall Street parasites actions with Mortgage Derivatives?



Economics 101. America avoided a depression and the collapse of the banking system and a run on bank withdrawals because President Obama and Bush governments stepped up to provide funding for over 800 financial institutions. The majority of these institutions did not file bankruptcy and are still solvent. Hopefully, the majority of this funding will be repaid with interest. Current economic signs are showing repayments are attainable. The eight year (2000-2008) de-regulation of the banking industry and Wall Street continually trading unregulated bungled mortgage derivatives at high prices with unknown actual values created this nightmare. They also insured these derivatives for any potential loss. What stupid company would provide this insurance? Oh AIG and etc. There was no separation of banks lending money to companies and then investing in these same companies. No checks and balance within the system. A lot of wealthy people, besides Bernie Mad off ran off with a lot of money before the stages were locked for this stock market decline. The federals agencies that would regulate and audit these companies and Wall Street were not adequately funded by the Bush administration during this 8 year period. Also, review President Regan deregulation of Saving and Loan in 1980, resulting in the 1989 President Bush Sr. $125 billion bailout of 750 Savings and Loan of the 1980s. President Bush Sr. sons Jeb Bush defaulted on $4.6 million loan, Neil Bush Silverado S& L bailout $1.6 billion by taxpayers. Do you see the de-regulation pattern?

It is evident that we lack a political education and that Blacks are running on fallacies and myths. Our elected officials spend all of their time scheming for the next election. By their own titles, they are not lawmakers. The Democratic Party writes its own political agenda and our leaders serve as their proxies and pawns.

The Black masses are clueless politically. They rely on political labels to get them through political minefields. They simply go to polling booths on Election Day armed with palm cards. These palm cards are simply mug shots with the names of the suspects underneath them.