-->
Search the ArchivesNavigationContact InformationThe Citizen Newspapers For Advertising Information Email us your news! For technical difficulties |
BANKS: after today's announcementThe story has just begun by announcing, by the Treasury Secretary, that our government now own Fannie Mae and Freddy Mac, the two banks that are responsible for most of the foreclosure mortgages in the USA---now about one in nine is in foreclosure, with many others coming that are in trouble. If this stinking mess had been handled 2-3 years ago before it got rotten we might have saved the construction industry and a lot of people's homes. I blame the current administration for allowing banks to violate regulated banking practices! Any audit of most of these banks would have shown a lack of capital and even that many loans were granted on a basis of poor banking rules and regulations! I know these "cons" don't want any kind of regulation and if we have regulation and they are in power, they won't enforce them---as this instance indicates. I say: take their money, first! Nitpickers's blog | login to post comments |