Tuesday, March 18, 2008
"THE WALL STREET PIRATES" DESTROY THE AMERICAN ECONOMY
The Brokrage Firms on Wall Street like Bears and Sterns and Leaman Brothers which is the next firm that the Federal Government will have to bail out because, of poor leadership at the top these Wall Street Firms and Banks. The lack of judgement and leadership at these firms are almost criminal because, many of these firms and banks gambled on these interest only loans which are called the sub-prime loans and they actually, thought they would make a huge profit on loans given to people who did not have good credit or a down payment on a home. The Finanical Community just went through Countrywide mess were they made a complete mess of the mortgage industry and had to be bailed out by Bank of America. This mess is the same thing that happened in Japan in the 1990's were they had problems in the same finanical markets and it took the Japanese a decade to come out of this financial mess. The Fed keeps cutting rates to save the market but, it is hurting the average American because, the value of the dollar keeps falling and that means that the price of everyday products will keep going up for the next few months. Therefore, I am telling my bloggers that the worst is yet to come because, we have not seen this market hit rock bottom yet, because the true professionals still don't know how bad Wall Street destroyed the Finanical markets. I am asking my bloggers should the "Wall Street Pirates" be criminally prosceuted for there actions.