The Whistler

Now that the Fed has launched investigations on Wamu, one has to hope that they can expend to the rest of the industry. The banks are criminals and should be addressed as such. If the administration is bend on doing something about these criminals and possibly rescuing the country from the major recession it's heading to, then it needs to completely overhaul the entire banking system.



The banks that were involved in the fraudulent and predatory lending scams should be investigated, and prosecuted. Their assets should be frozen by the Government and used to correct the system. Since when did a bum from the street, a bum without a job or the prospects of getting one, a bum that has not filed income tax for 15 years, qualify to buy a $1/2 million home? The stated income scam should be investigated because it led to inflation in home values and subsequently major defaults, and foreclosures. The single biggest scam in History, right under the watch of the administration.

So rather than negotiate with the one that is bleeding you to death, the Govt. should cut ties immediately and pursue an aggressive and real solution to this mess. If this was to happen, it would not only exonerate the administration for all its shortcomings and absurdities, but it would propel this administration into the history books as the administration that saved America from the first aggressive attack and possible colonization since independence.

The bad credit the Americans have accrued due to defaults, coupled with loss of employment through outsourcing have effectively set the foundation for a hostile takeover of our beloved country by foreigners who not only have virgin credit, but in most cases bring cash to the table. These foreign investors are gobbling our distressed banks, the same scandalous banks that initiated this whole mess, and now own the defaulted mortgages and the foreclosed homes. Look at Citi And Meryl. These foreign investors are buying up stock in these banks and once they take full control, they will not only own and control our economy, they will become our new landlords. Just take a look and see what they have done with our oil dollars, transformed their desolate desert into an oasis of envy!!

Watch out America!! The Arabs are coming.