satguru

The Financial Crisis Explained

I am really at a loss to understand how much money in dollars and cents was given out on sub-prime to the poor and blacks as stated in this article as the primary cause of this debacle. Why is this cancer worldwide? Did the sub-prime caused by FNM and FRE also make the whole world financial markets collapse? Are the poor and blacks tied in any way to investment banks such as Merrill and Goldman and Morgan Stanley? What kinda of BS excuse are you folks using for the creed and corruption of the rich. The poor and blacks and minorities are always used as scapegoats. What about the enormous billions spend now on the corporate bailouts and who gets the massive golden parachutes for creating this mess. It's people like you Mr Anton Wahlman that make me sick. Tell me what is the dollar amount of funds that went for sub-prime mortgages to the poor and blacks and what has been to total dollar amount given out so far used to bailout wall street globally to date??? You a**holes make me sick!!!
I live in an affluent neighborhood and five of the homes went on foreclosure and guess what none of them are owned by poor and blacks. These are rich white folks who used there homes as ATMs buying fancy SUVs and boats and spending lavishly on everything. This is where the big cost of mortgage financing went to the fat cats. SO CUT YOUR BS!!!!