PLAN OF ACTION FOR U.S. (1934 vs. 2009)

1934 Cartoon - Reflects on Today's Economy - 2009

"PLAN OF ACTION FOR U.S.

SPEND! SPEND! SPEND!

Under The Guise of Recovery - Bust The Government - Blame The Capitalist For The Failure - Junk The Constitution And Declare A Dictatorship"

US financial system..a giant "ponzi scheme"

William K. Black, a professor of economics and law with the University of Missouri:..."there was nobody looking, during the Bush years. So finally, only a year ago, we started to have a Congressional investigation of some of these rating agencies, and it's scandalous what came out. What we know now is that the rating agencies never looked at a single loan file. When they finally did look, after the markets had completely collapsed, they found, and I'm quoting Fitch, the smallest of the rating agencies, "the results were disconcerting, in that there was the appearance of fraud in nearly every file we examined."

Author: Stephen C. Webster

"US financial system...a giant 'ponzi scheme'..."

"there was nobody looking, during the Bush years. So finally, only a year ago, we started to have a Congressional investigation of some of these rating agencies, and it's scandalous what came out. What we know now is that the rating agencies never looked at a single loan file. When they finally did look, after the markets had completely collapsed, they found, and I'm quoting Fitch, the smallest of the rating agencies, "the results were disconcerting, in that there was the appearance of fraud in nearly every file we examined."


-- - William K. Black, a professor of economics and law with the University of Missouri,