USA financial SITUATION put the world

Banking system on decline

USA FED JUST KEEPS ON PRINTING MONEY ----

But whats the future look like as USA GETS

FURTHER INTO DEBT -the Bankers made money & noone did a thing to stop them even today

Who will finance a US budget deficit forecast to swell to $5 trillion this year? The bankers kept their winnings, the giovernments stay in the red, the average person loses his home and job & the Bankers go out and buy bigger homes and jets and life goes on till the next crash. The Banks made the crash happen as there were no restrictions and the FED with guys like Greenspan, Bernanke & Paulson etc also must take the blame as must the rating agencies like Moodys, S & P, Fitch who gave AAA false ratings to properties top boost their takeings & blamed a computyer glitch yet this is false and Obama still does nothing by using the Iran affair as a diversion.

The USA government could only watch as the Banks said help us or we go down together. Once paid out they quickly gave themselves more bonuses & Obama just watched & as much as people jumped up and down noone did anything least of all the Banking institutions. So life goes on as normal in 2011 but read on as the story unfolds of what really happened and whose to blame. In California 2 million residents owe more on their mortgage than their home is worth. Around 20 percent of all mortgages are bank-owned. Those loans which are underwater are generally not currently eligible for refinancing. An estimated 22.5 percent of all residential properties with a mortgage -- around 10.9 million of them -- are underwater

Fallout over the collapse of Solyndra, whose bankruptcy may cost taxpayers $535 million in federal loan guarantees, has called into question the tax status of the foundation of a major investor in the solar company. Now talks between U.S. states and top banks over mortgage abuses are nearing agreement with a figure around $25billion.

The crash started in May 2007. Standard and Poor, Fitch, & also Moody one of the leading providers of credit ratings, in May 2008, the Financial Times reported that Moody had given the worthless subprime mortgages that caused the banks to implode -- on paper, at least, so that they could then claim trillions in tax payers money -- a triple A credit rating because of a computer glitch.

In spite of the evidence of fraud by Moody, no investigation was opened into how a „computer glitch“ could cause billions of useless debt to be given the highest credit rating and not the junk credit rating, four levels lower that they should have had. But they werent the only ones?? In fact, it emerged that Moody knew as early as 2007 that it had given the junk subprime mortgage and  other debt an incorrect rating and did nothing to correct the triple A ratings as that mean't they would drop in commission payments. The agencies continued to give top ratings to mortgage-backed securities months after the housing market started to collapse so they could reap as much money as possible. The agencies then unleashed on the financial system a flood of downgrades in July 2007 that crashed the whole sub prime & those holding the CDOs etc.

Only in 2008 did Moody’s change the rating, helping the banks to declare themselves in debt (after a convenient change in the mark to market accounting rule) and so allowing them to get trillions in tax payer money in the form of a „bailout“ as well as have a pretext to withdraw gigantic sums of money from the economy and precipitate an economic crisis.A change in the credit rating was why Lehman Brothers suddenly“ went belly up in 2008

Moody is now poised to downgrade the credit rating oft he USA. What worth do these fictional credit ratings have? None. And yet these fictional and fraudulent ratings could be used to destroy what remains of the US economy for the bankers to make a final sweep of all the assets and funds in the kitty.

The rating agencies played the same role in wrecking economies in the 1930s, precipitating the Great Depression. In the German Banking crisis of 1931, worthless assets were fed into the banking system with a false tripple A rating. Banks declared themselves bankrupt, pulled money from the economy, bankrupted businesses, sent unemployment soaring, peoples lives were wrecked and then bought up assets on the cheap with their cash reserves. No one said anything least of all the governments & life continues unabated for the bankers.

We are no longer living in a democracy. We are in a totalitarian society run by oligarchs and our parliaments are window dressing as the Bankers own USA and people are pawns who can only but do nothing.Nearly 1.8 million homes were hit with foreclosure actions during the first nine months of this year, according to RealtyTrac Inc., an industry data provider. That translates into roughly one out every 73 homes in the U.S. The foreclosure rate is down slightly from 2010, when a record 2.9 million homes were hit with foreclosure actions, according to RealtyTrac.

50 state attorneys general announced they were investigating big banks’ foreclosure tactics in the wake of reports that many were using questionable documentation to push families out of their homes. Federal officials have also gotten involved in the negotiations with the banks. Some reports have said the government authorities and the banks have discussed a settlement that could total $20 billion. 

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