Warnings saw loan problems at Freddie, Fannie: report

[William33 110]

What caused this debacle is our Federal Reserve System. This counterfeiting business was constructed by a Republican, then refined and enacted into law by Democrats. A "reach across the table" bipartisan rape of our wealth.

Both parties are for bigger government, and more regulation. For that is where they draw their power and influence. And both sides will forever bicker over the means and methods used to govern regulation and NEVER the regulation itself.

You're running in place.

Huh? What is your basis for this supposition? Without a "non-partisan" Central Banking System, this country would run amok every few years.

This is not a supposition, my friend. It's a fact. Where did the money come from to enable all of this lending? Did Barney Frank create it? No. Did George Bush create it? No? The answer is bannered along the top of every dollar. The Federal Reserve.

We need no quasi-governmental agency to manipulate the supply and value of our money. We run amok because of such agencies. It's called the inflationary business cycle.

Incorrect. The money is US Treasury money, our tax money. The Fed also supervises and regulates Banks, process 90% of ACH transactions (like your direct deposit paycheck), checks, distribute US currency for the Bureau of printing and Engraving and a whole host of other services. The Fed, through the Federal Open Market Committee (FOMC), regulates the prime rate, to balance the economy.

Who would you suggest is best suited for this work?

It is not US treasury money. Those were called greenbacks and continentals. But nevertheless, the end result is still the same: regulation, whether by the Federal Reserve (present) or by the Treasury (past). So who does it, is irrelevant. The question is why do we need it?

We don't.

All the Federal Reserve can do is print more money, making the money you work for worth less. That is their purpose. They can manipulate lending through determine interest rates and who can borrow, (we've learned of the negative outcome of this: subprime lending)

So what good do they do? If the fed is so great, why couldn't they stop this? Why do we go through countless recessions, depressions, and downturns?

heh, because they are the cause of our very problem.

Bro, you need to read up on the Fed, as you are not in the loop here.

The Fed does not print money, the Bureau of Printing and Engraving (BEP) does that, aka Treasury.... http://www.bep.treas.gov/

The Prime rate is "stabilized" by the Fed. Federal Open Market Committee (FOMC)

Individual lenders decide on loan parameters and provide approval/rejection. That is not a Fed function.

Although the Federal Reserve regulates (normal) Banks, they do not regulate all lenders, to include subprime, bottom feeding scum organizations.

Edited December 10, 2008 by William33

[SpiritAlight 1]

This is something I found a while back...have not seen it since then and so, I am not entirely sure how relevant it is.

It just may be:

Money as Debt animated video.

[mRx 16]

What caused this debacle is our Federal Reserve System. This counterfeiting business was constructed by a Republican, then refined and enacted into law by Democrats. A "reach across the table" bipartisan rape of our wealth.

Both parties are for bigger government, and more regulation. For that is where they draw their power and influence. And both sides will forever bicker over the means and methods used to govern regulation and NEVER the regulation itself.

You're running in place.

Huh? What is your basis for this supposition? Without a "non-partisan" Central Banking System, this country would run amok every few years.

This is not a supposition, my friend. It's a fact. Where did the money come from to enable all of this lending? Did Barney Frank create it? No. Did George Bush create it? No? The answer is bannered along the top of every dollar. The Federal Reserve.

We need no quasi-governmental agency to manipulate the supply and value of our money. We run amok because of such agencies. It's called the inflationary business cycle.

Incorrect. The money is US Treasury money, our tax money. The Fed also supervises and regulates Banks, process 90% of ACH transactions (like your direct deposit paycheck), checks, distribute US currency for the Bureau of printing and Engraving and a whole host of other services. The Fed, through the Federal Open Market Committee (FOMC), regulates the prime rate, to balance the economy.

Who would you suggest is best suited for this work?

It is not US treasury money. Those were called greenbacks and continentals. But nevertheless, the end result is still the same: regulation, whether by the Federal Reserve (present) or by the Treasury (past). So who does it, is irrelevant. The question is why do we need it?

We don't.

All the Federal Reserve can do is print more money, making the money you work for worth less. That is their purpose. They can manipulate lending through determine interest rates and who can borrow, (we've learned of the negative outcome of this: subprime lending)

So what good do they do? If the fed is so great, why couldn't they stop this? Why do we go through countless recessions, depressions, and downturns?

heh, because they are the cause of our very problem.

Bro, you need to read up on the Fed, as you are not in the loop here.

The Fed does not print money, the Bureau of Printing and Engraving (BEP) does that, aka Treasury....http://www.bep.treas.gov/

The Prime rate is "stabilized" by the Fed. Federal Open Market Committee (FOMC)

Individual lenders decide on loan parameters and provide approval/rejection. That is not a Fed function.

Although the Federal Reserve regulates (normal) Banks, they do not regulate all lenders, to include subprime, bottom feeding scum organizations.

Ok, we are getting into pedantics. The Fed issues the currencies, and the BEP prints them. I'll concede to that if you want. I'm sure the paper comes from a specific place too. But it's irrelevant my friend.

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

[William33 110]

This is something I found a while back...have not seen it since then and so, I am not entirely sure how relevant it is.

It just may be:

Money as Debt animated video.

I really don't have 47 minutes to watch the video...Is there a recap?

What caused this debacle is our Federal Reserve System. This counterfeiting business was constructed by a Republican, then refined and enacted into law by Democrats. A "reach across the table" bipartisan rape of our wealth.

Both parties are for bigger government, and more regulation. For that is where they draw their power and influence. And both sides will forever bicker over the means and methods used to govern regulation and NEVER the regulation itself.

You're running in place.

Huh? What is your basis for this supposition? Without a "non-partisan" Central Banking System, this country would run amok every few years.

This is not a supposition, my friend. It's a fact. Where did the money come from to enable all of this lending? Did Barney Frank create it? No. Did George Bush create it? No? The answer is bannered along the top of every dollar. The Federal Reserve.

We need no quasi-governmental agency to manipulate the supply and value of our money. We run amok because of such agencies. It's called the inflationary business cycle.

Incorrect. The money is US Treasury money, our tax money. The Fed also supervises and regulates Banks, process 90% of ACH transactions (like your direct deposit paycheck), checks, distribute US currency for the Bureau of printing and Engraving and a whole host of other services. The Fed, through the Federal Open Market Committee (FOMC), regulates the prime rate, to balance the economy.

Who would you suggest is best suited for this work?

It is not US treasury money. Those were called greenbacks and continentals. But nevertheless, the end result is still the same: regulation, whether by the Federal Reserve (present) or by the Treasury (past). So who does it, is irrelevant. The question is why do we need it?

We don't.

All the Federal Reserve can do is print more money, making the money you work for worth less. That is their purpose. They can manipulate lending through determine interest rates and who can borrow, (we've learned of the negative outcome of this: subprime lending)

So what good do they do? If the fed is so great, why couldn't they stop this? Why do we go through countless recessions, depressions, and downturns?

heh, because they are the cause of our very problem.

Bro, you need to read up on the Fed, as you are not in the loop here.

The Fed does not print money, the Bureau of Printing and Engraving (BEP) does that, aka Treasury....http://www.bep.treas.gov/

The Prime rate is "stabilized" by the Fed. Federal Open Market Committee (FOMC)

Individual lenders decide on loan parameters and provide approval/rejection. That is not a Fed function.

Although the Federal Reserve regulates (normal) Banks, they do not regulate all lenders, to include subprime, bottom feeding scum organizations.

Ok, we are getting into pedantics. The Fed issues the currencies, and the BEP prints them. I'll concede to that if you want. I'm sure the paper comes from a specific place too. But it's irrelevant my friend.

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

Source?

[SpiritAlight 1]

Some interesting things to research more on:

http://themessthatgreenspanmade.blogspot.c...-its-money.html

[mRx 16]

This is something I found a while back...have not seen it since then and so, I am not entirely sure how relevant it is.

It just may be:

Money as Debt animated video.

I actually have that DVD. The DVD's creators are followers of the Chicago School of Economics. They propose a transfer of the power from the Fed to the Treasury. We've seen this with greenbacks and continentals, and it doesn't work.

A much more accurate description is this:

http://video.google.com/videoplay?docid=-466210540567002553

[SpiritAlight 1]

William, you and your family can get together, make some popcorn and watch it as a family.

It is quite interesting.

How the whole currency thing got started, and then how banks got started, and then how they could lend money they do not even have.

How it all "works".

If not (no time to ever see it), oh well.

To each their own.

I will not take that personally.

[SpiritAlight 1]

This is something I found a while back...have not seen it since then and so, I am not entirely sure how relevant it is.

It just may be:

Money as Debt animated video.

I actually have that DVD. The DVD's creators are followers of the Chicago School of Economics. They propose a transfer of the power from the Fed to the Treasury. We've seen this with greenbacks and continentals, and it doesn't work.

A much more accurate description is this:

http://video.google.com/videoplay?docid=-466210540567002553

I'll have to check that out.

Thanks.

I only watched the beginning of the one I just posted tonight, and saw that it is on banking.

(Like I said, i had seen the whole thing a long time ago...and oh, my memory...it is too cluttered.)

Edited December 10, 2008 by SpiritAlight

[William33 110]

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

The lending/Prime Rate needs to be set and regulated, given specific market conditions. I don't have an Economics degree, but the ramifications of unregulated interest rates are staggering. This is painfully obvious.

Until you provide a better solution/proposal, you are just finger pointing. Finger pointing is a very common theme in politics today.

The front money for these loans were not provided by the Federal Reserve. The Federal Reserve only backs these organizations, when they are in trouble.

[mRx 16]

This is something I found a while back...have not seen it since then and so, I am not entirely sure how relevant it is.

It just may be:

Money as Debt animated video.

I really don't have 47 minutes to watch the video...Is there a recap?

What caused this debacle is our Federal Reserve System. This counterfeiting business was constructed by a Republican, then refined and enacted into law by Democrats. A "reach across the table" bipartisan rape of our wealth.

Both parties are for bigger government, and more regulation. For that is where they draw their power and influence. And both sides will forever bicker over the means and methods used to govern regulation and NEVER the regulation itself.

You're running in place.

Huh? What is your basis for this supposition? Without a "non-partisan" Central Banking System, this country would run amok every few years.

This is not a supposition, my friend. It's a fact. Where did the money come from to enable all of this lending? Did Barney Frank create it? No. Did George Bush create it? No? The answer is bannered along the top of every dollar. The Federal Reserve.

We need no quasi-governmental agency to manipulate the supply and value of our money. We run amok because of such agencies. It's called the inflationary business cycle.

Incorrect. The money is US Treasury money, our tax money. The Fed also supervises and regulates Banks, process 90% of ACH transactions (like your direct deposit paycheck), checks, distribute US currency for the Bureau of printing and Engraving and a whole host of other services. The Fed, through the Federal Open Market Committee (FOMC), regulates the prime rate, to balance the economy.

Who would you suggest is best suited for this work?

It is not US treasury money. Those were called greenbacks and continentals. But nevertheless, the end result is still the same: regulation, whether by the Federal Reserve (present) or by the Treasury (past). So who does it, is irrelevant. The question is why do we need it?

We don't.

All the Federal Reserve can do is print more money, making the money you work for worth less. That is their purpose. They can manipulate lending through determine interest rates and who can borrow, (we've learned of the negative outcome of this: subprime lending)

So what good do they do? If the fed is so great, why couldn't they stop this? Why do we go through countless recessions, depressions, and downturns?

heh, because they are the cause of our very problem.

Bro, you need to read up on the Fed, as you are not in the loop here.

The Fed does not print money, the Bureau of Printing and Engraving (BEP) does that, aka Treasury....http://www.bep.treas.gov/

The Prime rate is "stabilized" by the Fed. Federal Open Market Committee (FOMC)

Individual lenders decide on loan parameters and provide approval/rejection. That is not a Fed function.

Although the Federal Reserve regulates (normal) Banks, they do not regulate all lenders, to include subprime, bottom feeding scum organizations.

Ok, we are getting into pedantics. The Fed issues the currencies, and the BEP prints them. I'll concede to that if you want. I'm sure the paper comes from a specific place too. But it's irrelevant my friend.

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

Source?

Legal tender laws requiring FRNs to be accepted as currency.

This is unconstitutional by the way, per Art. 1 Sect. 10, Clause 1 of the US Constitution. http://en.wikipedia.org/wiki/Article_One_o...s_on_the_States

[William33 110]

William, you and your family can get together, make some popcorn and watch it as a family.

It is quite interesting.

How the whole currency thing got started, and then how banks got started, and then how they could lend money they do not even have.

How it all "works".

If not (no time to ever see it), oh well.

To each their own.

I will not take that personally.

I am well aware of US economics, history and so forth, although my degree was in another discipline. I will take the time to watch the video, at some future point. Curiosity you know...

[William33 110]

Legal tender laws requiring FRNs to be accepted as currency.

This is unconstitutional by the way, per Art. 1 Sect. 10, Clause 1 of the US Constitution. http://en.wikipedia.org/wiki/Article_One_o...s_on_the_States

Your link does not get to any "Federal" clause. Either way, research the Federal Reserve Act of 1913. This supersedes any "state level" citation.

Edited December 10, 2008 by William33

[mRx 16]

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

The lending/Prime Rate needs to be set and regulated, given specific market conditions. I don't have an Economics degree, but the ramifications of unregulated interest rates are staggering. This is painfully obvious.

Until you provide a better solution/proposal, you are just finger pointing. Finger pointing is a very common theme in politics today.

The front money for these loans were not provided by the Federal Reserve. The Federal Reserve only backs these organizations, when they are in trouble.

The market determines everything. No regulation is needed for this. If there is surplus savings, banks can confidently lend more, if there are low reserves, then banks should be more hesitant. These factors, and these alone are the factors that determine rates. The artificial agitation by the Fed only harms such a natural process.

William, let's just agree that all the money created comes to be because of the Central Bank. The Federal Reserve. Or any other euphemism for it. That proves the money is provided by them, because it came from them. And can come from nowhere else.

I've provided a better solution.

-Quit inflating our currency.

-Quit controlling our economy.

-Quit privatizing profits, and socializing losses.

While the fingers are pointed between the dems and cons, I'm content standing in the back, laughing at them both.

[William33 110]

What determines lenders rates is what the rate the Fed loans that money to them at. It's called manipulation. And it's done by the Fed.

The Fed gave all that money to Fannie and Freddie who in turn gave it to banks who in turn gave it as subprime loans because there was so much damn money to throw out. This is the Fed's fault. It's painfully obvious.

The lending/Prime Rate needs to be set and regulated, given specific market conditions. I don't have an Economics degree, but the ramifications of unregulated interest rates are staggering. This is painfully obvious.

Until you provide a better solution/proposal, you are just finger pointing. Finger pointing is a very common theme in politics today.

The front money for these loans were not provided by the Federal Reserve. The Federal Reserve only backs these organizations, when they are in trouble.

The market determines everything. No regulation is needed for this. If there is surplus savings, banks can confidently lend more, if there are low reserves, then banks should be more hesitant. These factors, and these alone are the factors that determine rates. The artificial agitation by the Fed only harms such a natural process.

William, let's just agree that all the money created comes to be because of the Central Bank. The Federal Reserve. Or any other euphemism for it. That proves the money is provided by them, because it came from them. And can come from nowhere else.

I've provided a better solution.

-Quit inflating our currency.

-Quit controlling our economy.

-Quit privatizing profits, and socializing losses.

While the fingers are pointed between the dems and cons, I'm content standing in the back, laughing at them both.

The market, as regulated by the Federal Reserve determines everything...Without those controls in place, chaos in banking will ensue. Proven time and time again.

Answer this: Why do most 1st world countries have Central Banks with similar principles and simultaneously consult with the US Federal Reserve on policy design and implementation?

Answer: Because it works.

-Quit inflating our currency. Our currency is quite deflated against many major currencies, presently.

-Quit controlling our economy. The economy needs regulation, or else lenders will charge 50% on that credit card in your wallet.

-Quit privatizing profits, and socializing losses. The fact that the Government chooses to bail out private enterprises, well, talk to your legislators. All Fed profits are rolled into the general Treasury account.

I agree to disagree here. You don't like the Federal Reserve System or agree with it's purpose? No problem.

Edited December 10, 2008 by William33

[mRx 16]

Legal tender laws requiring FRNs to be accepted as currency.

This is unconstitutional by the way, per Art. 1 Sect. 10, Clause 1 of the US Constitution. http://en.wikipedia.org/wiki/Article_One_o...s_on_the_States

Your link does not get to any "Federal" clause. Either way, research the Federal Reserve Act of 1913. This supersedes any "state level" citation.

Ok, well show me where in the constitution it says that the "Federal" authority can create fiat currency.

It doesn't...

The framers of our constitution never intended it either.

Here's a very proving quote by Woodrow Wilson after he enacted the Federal Reserve Act of 1913:

"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men."