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Get this. |
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Make no mistake. |
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Understand it fully. |
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It is not complex. |
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It is actually simple
in concept. |
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It is
straightforward. |
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You have no excuse to
not comprehend. This is not like arguing with a
police officer about a speeding violation or for driving
through a stop sign without stopping. You have no
excuse to not understand this. |
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Fact: |
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There is only one
reason... 1, a
single, not more than one, and not two or more. |
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Question: |
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Why is the entire
global system of finance, credit, capital structure,
capital formation, and how is it that the stability of major financial
institutions, the real estate market, and stock and
commodity markets are in dire, weak condition, on the
verge of collapse, or in or near
nationalization regardless of size, global location,
operational purpose, or range of services provided? |
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Answer: |
American citizens and
foreign nationals, illegal and legal, who signed contracts including home mortgage
contracts, credit card contracts, auto loan
contracts, and student loan contracts are not
paying, not meeting their obligations, not doing all
possible, nor expending sweat in order to meet
their contractual obligations.
Investors across the world trusted US borrowers,
invested in their debts, and are now going broke
because US borrowers are not paying their debts. |
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Incorrect Answers
include: |
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-- Ratings agencies,
including Fitch, S&P, Moody's; |
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-- Buyers who failed to
perform due diligence before buying derivative-style
created investments. |
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-- Wall Street banks and
investment bankers; |
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-- Lenders of
sub-prime, Alt-A, and other loans that were made by
disregarding borrowers' credit ratings. |
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These entities were
complicit in that they performed the services that
borrowers, lenders, and investors demanded. |
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Explanation: |
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Starting in 1977, the US Congress created and passed legislation
requiring lenders to ease credit lending standards
for minority and other individuals who were not able
to meet normal creditworthiness standards. After
that legislation, community groups, including ACORN,
used extortion, thuggery, and law suits to force
lenders to lend to risky, unworthy borrowers. |
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Risky and unworthy borrowed
several
hundreds-of-billions of dollars and have been
defaulting, abandoning, and disregarding their
contractual agreements -- that is, mortgages, loans contracts,
and other credit obligations -- in increasingly large
numbers since about 2006. |
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These defaulting
borrowers' debts were packaged into derivatives that
were sold around the world in large quantity --
especially to east Asian and European investors.
Investors include financial institutions, municipal
and national governments, and funds. |
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Because approximately
7% of all borrowers -- the risky and unworthy -- in America have and continue to
choose to disregard their contractual obligations,
the global financial system is teetering,
governments are taking over privately-held financial
institutions, and business sovereignty is being
trampled. |
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As a result of today's meltdown,
government is gaining powers, it is bloating with
bureaucratic ineptitude, and politicians are usurping control over more
aspects of your life. |
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Your taxes will be increasing
and remain higher to pay other
people for disregarding their debt obligations. The US national
debt has increased over $2 trillion so far this year
to bailout non-paying borrowers' obligations. The
Federal Reserve's balance sheet is becoming
distorted and extended. |
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If US-based
borrowers were meeting their contractual
obligations, there would not be a global financial
meltdown -- nor any problem at all. |
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Or, as the risky,
unworthy borrowers often say, "No
problem". |