enron rerun

i know i won’t be the first to suggest this … but to me the whole fiscal crisis smells like FISH … i think there was some kind of conspiracy between the top three banks — JP Morgan, Bank of America, Citigroup — and the U.S. government … this is how i can see it happening:  the dudes who run JP Morgan also happen to sit on the board of the FED and they began pushing for deregulation so that once the market was all loose and banks began to suffer they could come in and save the day … they say that’s what happened in the stock market crash of the 1930’s … and funny enough that was how JP Morgan got his start … bailing out banks in the crash … go figure …

well my bank just got bought … this is what makes me write this today … here’s a lil snippet of what wachovia has been doing with OUR money: “… the books of Wachovia Corp.  … weighed down by losses linked to its ill-timed 2006 acquisition of mortgage lender Golden West Financial Corp.  Wachovia, like Washington Mutual Inc. , which was seized by the federal government last week, was a big originator of option adjustable-rate mortgages, which offered very low introductory payments and let borrowers defer some interest payments until later years. Delinquencies and defaults on these types of mortgages have skyrocketed in recent months, causing big losses for the banks.” 

you can read the entire article yourself as well … and i challenge ANYONE to refute my theory cuz, of course, i’d love to be proven wrong … tell me that dude who owns JP Morgan is not on the board of the FED, show me proof, and i will retract my paranoid assertions … till then … it’s another ENRON (only worse).


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