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Why The Federal Reserve Is To Blame For the Mortgage Meltdown

Are you confused about mortgages? Good. At least you know you are confused. The global economic system has been collapsed by people who were confused about mortgages and didn’t know it. Whose fault was it? It was the fault of the sub-prime home buyer. It was the fault of the sub-prime mortgage broker. It was the fault of lazy financial advisors who put their client’s money in asset backed paper that turned out to be worth whatever recycled paper goes for and no more. But the Federal Reserve Bank should carry most of the blame. I’ve found an article about geld lenen.

The Federal Reserve is the party most responsible for destroying the global economy. This private corporation, charged by Congress with managing our money supply, cannot be trusted. Did you see Jon Stewart hammer Jim Cramer, the host of CNBC’s Mad Money, on who did this? Well, the answer is, the Federal Reserve Bank did it. And they should pay. Congress must rescind the Bank’s charter and replace it with a central bank controlled by the Treasury Department.

Mortgage brokers tried selling a subprime mortgage to any prospect that had a pulse. Millions who trusted their financial advisors had no idea there money was getting tied up in mortgages to unqualified people.

When the FRB raised the ratio it flooded the market with more money, which went out in loans to unqualified buyers which were then bundled as the infamous ‘asset backed paper.’. An other word for a so called toxic asses is a liability. And that’s what the governement is buying. Your tax money is being used to the American government.

Finally, the people who sit and tell CNN cameras that they didn’t know that they had an adjustable rate mortgage are simply too stupid to own a home. I know that’s harsh, but it is the truth. Does that sound pessimistic? Good, because if you are not pessimistic now, you are a fool.

About the author

Sherry Fields Sherry Fields has been working in real estate since 2002. Working with the development team for the Hilton Garden Inn gave her strategic information on the commercial real estate market in Missoula. Broadening her scope she moved into the residential market and earned the designation SFR in short sales and foreclosures. Currently affiliated with Prudential Montana Real Estate, she works with both buyers and sellers "building relationships so you can buy & sell with confidence". Sherry Fields has recently earned the CREN designation - Certified Real Estate Negotiator. While price is a large part of negotiation - it is also about timing everything from the closing date to inspections, appraisals, home insurance - and it is about negotiating items that can show up in home inspections to achieve a mutually acceptable outcome.

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