Katya Wachtel has a great article on BI today about the real Eric Cantor. He is a shill for the hedge funds which of course, make up the backbone of the easy money revolution. Shadow banks are backed by hedge funds and they offer you too much house with the absence of underwriting. They offered so many easy money loans that they were able to drive the price of houses up by the force of the loans themselves.
Cantor and Ryan are Tea Party candidates. Make a mental note of that. Cantor and Ryan want the rich, and therefore the hedge funds, to have even more money so that they can blow another housing bubble before 2020. This continual attack on the middle class shows the cesspool that has become the Republican Party.
Further polluting this cesspool is Representative Bachus of Alabama, who said that the purpose of government is to serve the banks. Got that America? This is a senior member of the Republican Party!
The Tea Party plays a function that muddles the scene, making Ron Paul look like he is schmoozing with the dregs of the political landscape. Here is how the Tea Party manifests the dirty essence of it’s existence:
The Tea Party comes in and tells you that you bought too much house and it is your fault. At the same time, this Tea Party is receiving massive financing from the very people who offered the loans in the first place! Dirty, dirty. Ron Paul, you claim to be a politician of purity. How can you schmooze with this slime? You need to get out of the Republican Party.
The Tea Party politicians, not necessarily all rank and file members, are a dirty bunch. While promoting a morality that requires you to pay your mortgages, they are getting money from the jerks that financed those mortgages in the first place!
And think about it Ron Paul. Your buddies of the hedge funds want to attack main street who were hurt by the bad lending. Oh, but that must be the part you like and what keeps you in the Republican Party. You want more wealth to go from main street to the wealthy, don’t you Ron Paul! That is pretty pathetic Mr. Paul. If you don’t why aren’t you blasting this attempt to transfer more wealth from the 90 per cent who control less wealth to the 1 per cent who already control more wealth? I don’t get it Mr. Paul! You must be an elitist? You certainly cannot prove you are not an elitist if you stay in the cesspool party!
I am no fan of the Democrats, because they were equally guilty of the repeal of Glass-Steagall, with the vote in the senate being 90 to 8. But at least they want to slow down the casino by the Volcker Rule, and they want to help the old and the poor. They want to protect the middle class from more sicko loans, too. You have more in common with them than you do with the Republicans, Mr. Paul. You want to slow down the casino too right? Right?
It is interesting to me that the hedge funds would want to attack the middle class so soon after the crash of the housing bubble. This seems to me to be an act of desperation. I think there should be a law that forbids pension funds from pouring money into hedge funds as is going on now. I think the hedge funds should be slapped down by the American people. These pension funds don’t need more leverage and more risk.
It is interesting that the crybaby for the Fed, Steve Liesman of CNBC, was pining for the bottom 51 per cent to pay taxes, because they don’t do so now. Well, maybe if the Fed quit QE and quit allowing a bunch of speculation that drives up the cost of living for these 51 per cent people, they could afford to pay tax. The greedy financial community cannot have it all. But it wants it all.
I have to wonder if the hedge funds and the Fed and the crony banks are headed off the cliff and want a new massive transfer of wealth from everyone else to them? Perhaps these gamblers are not so insulated and walled off from the rest of us in order to survive after all? I read where there could be 11 million houses foreclosed on. I hope people do walk away from house bubble houses, based on the moral perspective of walking away from a massive Ponzi. This could slow down these people who want to blow another bubble.
It is my contention that the powers that be want to blow another bubble are being constrained by foreclosure-gate and by people walking away. Wells Fargo wants another bubble, and wants it guaranteed by the taxpayer. I can’t imagine that Ron Paul approves of all this. Why not speak out and leave the party that is most interested in this attack upon the rest of us?
Disclaimer: Walking away from a mortgage has moral legitimacy but I am not an attorney or financial advisor. Check with those before taking the plunge.
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