Sunday, July 25, 2010

The Looting of America:

Recommended reading:

The Looting of America - By Les Leopold

How Wall Street's Game of Fantasy Finance Destroyed Our Jobs, Pensions, and Prosperity—and What We Can Do About It

Want to get mad?

Derivatives, Hedge funds, Synthetic CDOs, Credit Default Swaps...

You know that something really wrong happened that almost destroyed our whole economy and drove us close to another Great Depression.

We know that Banks and Mortgages Companies screwed it up.
Most of the blame however was directed at irresponsible homeowners taking on more mortgage loans that they could handle.

But this is just a very little part of the whole story.

Really!

Put apart your partisan feelings.

This is not a political story.

But it will educate you about the whole scope of the mighty mess our country is trying to untangle.

From the horrendous jobless numbers, to the Trillions which have already replaced the Billions as the symbol of our disgrace, to the foreclosures and defaults, and the losses of pension funds, and people's savings, you will not end up with any solution to the crisis; but at least you will start to understand it.

I am a realtor, but in certain ways my life has been affected, as every normal citizen's life in this country. It's not only about the foreclosures, short sales and unending misery that I can touch with my hands every day at work. In fact, in Florida we might be in the epicenter of the perfect storm.

It's about a dream that we should all keep alive.

The first step might be understanding where we are.
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