For the next 200 years GREED will be the focus of my wrath, replacing shame.

Thank you, carry on…

I like the shell game analogy to Enron, a game I did not watch play out that closely.

If you must incur my name, couldn’t you at least use it to pray together, it might forge some real community spirit and stop you wasting time trying to find someone to blame.

You are the bank and you have $100 (already discounted) assets that you KNOW will flop. You can either write them off and loose $100 OR pay $10 and get rid of them. How? You can – through PPI – invest $10 in PPI which would ‘team up’ with government’s $10, lever it up 5x with FDIC loan and purchase the asset at its $100 value.

Who is going to end up with loss? US taxpayer courtesy of FDIC’s $80 and govt’s $10. In case if you were wondering this was the intention behind the Geithner’s plan – clean up banks books at US taxpayer expense.

God – somebody stop this scam of the millenium!

Who do you blame for the housing crisis? Republicans? Go check your facts and history again, please. Start with Jimmy Carter and follow through to ol Billy Clinton. Community Housing Act.

It does not matter because with Obama pushing the death toll up of 1.5 million babies each year; we are not going to see anything good come from him. If someone cannot respect life; why would he respect you or I?

His plan as outlined on Sunday, March 29, 2009 news programs has investors gambling five (5) million dollars; the Feds also gambling five (5) million dollars, and the FDIC (Federal Deposit Insurance Corp) putting up sixty(60) million dollars to purchase $100,000 face value mortgages discounted to a cost of $70,000. The toxic assets are still overpriced homes in the hands of people unable to pay the mortgage. If the houses that were mortgaged for $100,000 are now only worth $70,000, no buyer or bank will buy or refinance that mortgage at $100,000. The mortgage will default; will be foreclosed and be unlikely to sell. There is no telling what happens to that house before resale. All involved will be losers, the “owner”, the bank, the investor, government and taxpayers.

There are better ways; God has the best way, but until you are willing to call upon Him and trust Him, we will talk about our financial system changes. Our system adds at least $462 a month to the cost of a $100,000 mortgage (assuming a steady 5% interest and ½ % Fannie Mae insurance charge.) God warned against debt, interest, insurance, gambling, seeking riches, honor and pride in all holy books. The banks or investor can erase the interest charges; instead charge a small monthly handling fee. That decreases the cost of the house for the owner by $462 a month ($5,500 a year), making more people able to continue in their homes. (Note: a $200,000 mortgage saves $924 a month and $11,000 a year.) There is now great incentive to stay in the home if possible; if it is not possible, the opportunity for someone else to come in and buy the house is better. The value of the house increases and an investor or bank without government intervention taking some of the profit has a better investment and is not under God’s condemnation for oppressing the poor. (God has an even better plan when we want to turn from our ways to His ways.)

The World – Mark to Market value please!
BankA (with a small wave of the hand) “You don’t need to see our valuations”
The World – we don’t need to see any valuations!
BankA “These are not the assets you are looking for”
The World – These are not the assets we are looking for!
BankA “You can go about your business”
The World – Go about your business now!
BankA “Carry on”
The World – Carry on!! Carry on!!