Tom Udall Fights Unfair Credit Card Practices
SenatorTomUdallhttp://gdata.youtube.com/feeds/api/users/senatortomudallNewsUdall, politics, democrats, credit cards, bankruptcy, congressTom Udall Fights Unfair Credit Card Practices
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Thank you for your … Thank you for your thoughtful and intelligent analysis of this problem.
Repackaging … Repackaging mortgages and loans, and selling them to create other financial products is the same as giving stimulus money to institutions who create the SAME financial products that crashed in the fall of 09'.
Creating money in this fashion is creating money from thin air! It will disappear as fast as it was created!
The homes people borrowed money to buy are a solid asset. So are the promises to pay those home mortgages off.
So who gets bailed out?
Did you know that … Did you know that once you sign for your loan, it's considered brand new money in the system? Everything over the fractional reserve amount is electronically printed just like they had a printing press!
No wonder "No Credit / No Problem" was the mode of operation!
Now these credit companies are AGAIN on the AM radio push to push credit fixes. They got bailed out, they are ready to lend you more money!
Nobody has changed the rules for the financial derivatives scams. Go Tom!