By Patrick follow 2013 Mar 24, 9:21am 563 views 3 comments
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Simply put, the TBTF banks would not exist without the Federal Reserve and Federal government bailouts, subsidies and protection from transparent marked-to-market pricing of the banks' collateral and risk. The basis if this partnership is simple: the banks' enormous profits and financial power have enabled them to capture the regulatory machinery of the government (the Central State) and the political machinery controlled by its elected officials.
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Ahhhh! The joys of counterfeiting!
With a 70% consumer driven economy and much dependent on housing purchases and new appliances, furniture, etc. The Fed and the administration wants to blow another housing bubble as over 64% of voting households are 'homeowners'.
We live in a political economy driven by politics and not sustainable economics.
Get over it and become a debt serf as Uncle Sam wants you to be a debt serf. Just because rents of single family homes are falling is no reason for you to continue to rent and be able to move to where the jobs are.
No! Uncle Sam wants you to buy a $600,000 house in California with RV parking so you can buy that RV to live in while you work in North Dakota where there are jobs but no housing.
Die, TBTF, fucking Die!