Replies to post #20721 on RespireRx Pharmaceuticals Inc (RSPI)

[bigworld]

Blade: Look at how Fanny and Freddie worked the game in Washington D.C. and you can begin to understand how they got along with this massive fraud that has adversely affected the financial structure of the entire world. In 1977 they were basically mandated by Congress to open up home buying to a greater segment of the populace, i.e. those folks who didn't really have the economic means to buy a house. Thus eventually came the "no down payment" home loans. Then through the course of the years Fanny and Freddy became two of the largest campaign contributors in Washington D.C., buying favor with Congressmen and Senators for years. Then they employed ex-government officials at huge salaries to curry more favor. Like ex Clinton cabinet member Franklin Raines, who was paid 100 Million over 7 years at Fanny,until he was ousted because Fanny was caught cooking the books in its SEC filings. Is it any wonder that there was nobody in government to hold them accountable for anything? The final straw was when Greenspan dramatically lowered interest rates after 9/11. Banks could borrow money for next to nothing and then lend it out at a nice profit. They didn't have to hold the paper so they were less than diligent in packaging those loans knowing they were off the hook. Then Wall Street sold those packaged loans, highly leveraged, around the world. The real estate bubble formed, and like all financial bubbles, it eventually burst. Now the Feds are buying up the bad loans to the tune of $500 Billion, with money they don't have. Hello China. Can you lend us another half a trillion dollars? We screwed up. It's pathetic. But the original and subsequent blame is squarely on the shoulders of our "public servants" in Washington D.C. They live on the perpetual gravy train, the rest of us are mere tax slaves that work our asses off to pay for their blunders and corruption. Ever notice how many of those "public servants" go to Washington with modest means and leave 20 years later as multi-millionaires, all on a government salary of @ $140,000 a year? The real problems this country faces won't be solved until you banish lobbyists and replace the entire Senate and Congress with more reputable people who will put the citizens and the country's future first, instead of enriching themselves and their family members and cronies. A second American revolution is long overdue.