What has not been reported is that the Bush administration turned these acts of reckless lending into a national program of mortgage fraud. Soon after George W. Bush became president in 2001, meetings at the White House between Federal Reserve Chairman Alan Greenspan and administration officials became more frequent. According to mortgage industry insiders I have interviewed, direction soon began to come down from the banks to mortgage brokers to falsify borrower income information to allow them to qualify for loans that were otherwise out of reach.Eli talousoppiin" Bushonomics" sisältyi jo vuonna 2001 suunnitelma huijata viranomaisia ja tuputtaa slummien köyhille "oman omistusasunnon luksusta". Ihmisten tulot ilmoitettiin asuntojobbareiden toimesta liian suurina jottei kukaan haistaisi palaneen käryä lainajärjestelyissä. Tässä Bush itse äänessä vuonna 2002:
Tähän sotkuun liittyy vielä viime talven Eliot Spitzer-juttu. Spitzerhän joutui eroamaan New Yorkin osavaltion kuvernöörin paikalta kun paljastui että hänellä oli avioliiton ulkopuollella jotain seksiyhteyksiä.
Cook toteaa Spitzerin kirjoittaneen: In a February 14 article in the Washington Post written before he resigned, New York governor Eliot Spitzer wrote:
"In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules. But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation."
Loput jutusta on melko surullista joten jätän kääntämättä. Tässä herkkupalat englanniksi:
Why did the Bush administration do this? The only possible answer is that it had every intention of producing the housing bubble, one that had the effect of not only inflating the cost of homes and real estate but also pumping billions of dollars of borrowed cash into the economy through mortgage and home equity loans.
What is happening is that the Bush administration is engineering a massive raid on the Federal treasury to pay off the people within the financial industry who have been operating the housing scam because the politicians told them to do it. This is hush money.
What happens next?
Well, it is already happening. In the post-bubble era there will be no more economic engines for the American economy. A long term recession and depression are inevitable, and they are expected by those in the know. In fact, there has been a plan in the works for a very long time to bring down the U.S. economy, and it will be happening over the coming months.
This is why the government is also preparing to implement martial law, or something close to it, in case public unrest breaks out. We will likely also see a clampdown on free speech, the right to protest, and use of the internet. Federal facilities are being prepared all around the country to backstop state prisons and local jails that are already bursting at the seams.This is the plan, so people need to begin to take whatever measures they can to cut their cost of living, get out of debt, and protect themselves and their families.