On Oct 19, 4:01*am, wrote:
On Tue, 18 Oct 2011 16:23:21 -0400, "Robert Green"





wrote:
wrote in message
.. .
stuff snipped

The economy was not as much "looted" as it was artificially inflated
with easy money and subsequently that bubble popped.
The "trillions" that disappeared from the economy never really existed
in the first place. There were 20 years of bad political decisions
that led up to that. There is plenty of blame to spread around. Wall
Street was just doing what the government told them to do.

I respectfully submit that may be backwards. *I think it was the government
that was doing what Wall St. told it to do. *The system was set up so that
Wall St. made money even when a house was sold to someone who probably
couldn't make the payments. *They got fees, commissions and more fees.
Sadly, the states made loads of money in real estate transfer fees, real
estate taxes, etc.

They were trying to stimulate the economy and what is forgotten here
is the guy who sold the land made money, the builder made money, all
of the contractors made money, everyone in the building supply chain
made money, the real estate broker made money and the mortgage broker
made money. That is a lot of money moving around. It wasn't just Wall
Street. All Wall Street did was create the money in the first place.
The losers were the last person to own the house and the people who
held the loans when the music stopped. The derivative holders were
made whole by TARP and everyone involved in the house before the crash
took their money and ran.- Hide quoted text -

- Show quoted text -

Nah. It was circle. The loans were sold on the other banks.
When the bubble collapsed, everybody lost out.
But the only ones to be bailed out were the banks.
Nobody helped the poor homeowner in negative equity and no job (the
99%)
That is the injustice.