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25
September
By I.B.A.

Financial Crisis Part 2

After reading Part 1 we all have more insight into as to how deceit and corruption created the Property Bubble that led to the crash in 2008

You would naturally assume that basic intelligence would prevent any persons or "Governing Body" from ever making the same mistake again, right?

WRONG!

Even before the balance sheets had confirmed the extent of his latest catastrophe, George W Bush announced he would pump another $700 billion into the economy to bail out the banks.

Even banks that didn't want the money were forced to take it, as this prevented the public discovering which banks were on the verge of collapse.

Not wanting to miss out, the Auto Industry jumped on the wagon, and Bush redirected around $100 billion to General Motors and Chrysler, without even substantiating their claims.

Interest rates were then dropped to almost zero, which was even lower than when creating the Housing Market Bubble.

Bush then left office and in comes Obama, and did he place a halt to this financial lunacy?

No! He carried on down this road to disaster!

So what did Obama do?

Read more


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