How Bill Killed the American Economy!
Thursday, March 30th, 2017 @ 8:30AM
Over the past 75 years our nation has experienced a number of tumultuous times, including two major disasters, one being the Great Depression of the 1930′s which left millions of people homeless, without a job, and living day to day in despair.
The other was in 2007 what has been tagged as the Great Recession, which was caused by the full collapse of the Housing Industry, forcing over 14 million people to lose their homes to foreclosure, and over 10 million people to lose their jobs.
What very few of our nation’s citizens realize is that both of these crisis resulted from two similar, separate; deliberate attacks against the United States of America’s economy! Both of these attacks are rooted in European moneychangers (central banks) who have sought to control the flow of revenue in the USA since its founding.
The first “central” bank was established in 1791 with a 20 year charter, which was not renewed, a second central bank was also established with a 20 year charter in 1816 which also did not get renewed. The Third was enacted in the wee hours of the night December 24, 1913, and quickly signed into law by President Woodrow Wilson, it was provided with a 99 year charter which has already expired.
However, as the Federal Reserve Bank now, in essence, with its Superiors in Europe now own the United States, the issue of establishing a new charter would mean nothing. The Federal Reserve is not under any authority whatsoever of the United States Federal Government, it is a wholly private corporation which has simply siphoned the USA into revenue bankruptcy.
Of course the Federal Reserve Bank was not only complicit in the Subprime Home Loan Scheme, they played a crucial role in its success, for it was Alan Greenspan and Bill Clinton who overcame the primary obstacle in implementing the plan wherein enough of the “GTF (Guanteed to Fail) loans would be in order to truly topple the US Economy.
Do we know who was responsible for the Economic meltdown in 2007?
Yes, and more so, we have irrefutably identified Bill Clinton as the perpatrator, as well as how, and even why he and his team of traitors set out to destroy our “economy,” which was just one segment of many of their overall plan; which is to eradicate our sovereignty and independence, and force we the people into subervience under the rule of the U.N!
President Bill Clinton from the moment he first stepped foot in the White House in 1993 knew exactly what his mission was, which by 1999 had accomplished his quest and each and every detail of the evil plan was firmly in place, and implemented!
The information provided herein is not based on conjecture, as you will clearly see the evidence establishes beyond the shadow of a doubt that Bill Clinton, and his carefully selected team of fellow traitors “intentionally” collapsed the U.S. economy!
After the Great Depression came to an end it was important to re-establish the Housing Industry; the “backbone” of our nation’s economy, after all, owning one’s own home was the “pinnacle” of the American Dream!
In 1938, the Federal Government established the Government Sponsored Enterprise, (GSE) the Federal National Mortgage Association (Fannie Mae) to serve as a “secondary” market per se which purchased existing home loans held by the various Savings & Loan institutions, which had reached their limit as to how much money they could have tied up in home loans. If they were going to be able to write any new home loans they would need to sell off their existing loans first.
The Federal Government established very strict regulations as to how much revenue the Savings and Loan Banks could allocate in home loans, which was based on a percentage of their total net worth, usually around 15%.
Note: Fannie Mae, not the Private Sector “banks” established the criteria as to which loans they would purchase, which only “AAA” loans would pass Fannie Mae’s stringent prequalification’s! Any high-risk loans would not even be considered, only those loans wherein the borrower; made a substantial down payment, had a high credit rating, provided ample proof of being able to meet the mortgage payments and ability to repay the loan were purchased!
Prior to the Subprime Home Loan Scheme, Fannie Mae established itself as a solid financial enterprise oversought by the Federal Government, and held the highest credit rating in the World Financial industry.
That however, was all about to change!
Implementing the Plan
In 1994 President Bill Clinton set into motion the plan he knew would severe the spine of the U.S. economic backbone; the Housing, and Finance Industries, which would then cause a domino effect to kick in and take down the entire economy. President Clinton even titled his plan of destruction, the “National Homeownership Strategy: Partners in the American Dream” Plan!
Over the next five years President Clinton would be in diligent pursuit of ensuring that each and every aspect and detail of the Subprime Home Loan Scheme were in place!
Subprime Home Loan Terms – A vital aspect of the plan was to find a “mechanism” which would provide a lengthy “delay” of approximately 3 to 5 years in order to create the illusion that the crisis had nothing to do with President Bill Clinton as he would no longer be in office by the time the devastation struck the economy.
The “mechanism” was discovered with the invention of what they called the “variable rate” loan. With the flexibility to break a loan down into numerous “terms” of time, and keeping the first term interest rates to a bare minimum, it was more than possible to minimize the monthly mortgage payments on a new $200,000 home less than a one room apartment in the low rent district!
Of course after the first term came to an end (3 – 5 years ) later the “interest” rates would increase dramatically, causing the payments to more than double and making them too high for the borrower to maintain, which eventually would put them in default, and eventually into foreclosure.
Over 15 million homes were lost in foreclosure as a result of the Subprime Home Loan Scheme, literally killing the Housing Industry, followed by hundreds of thousands of small businesses tied to the Housing Industry having to shut down; sending millions of people to the unemployment lines.
By irresponsibly, and flagrantly establishing home loans with unrealistically small monthly mortgage payments for the number of years established of the first term, it created the facade that the low income borrowers were fiscally capable of servicing the home loan they were given, when in fact the terms were so outrageously perverted from what would have been considered even reasonable, the collapse revealed just how big of a scam the Subprime Scheme really was.
Bill Clinton, and his administration were/are incapable of feeling compassion for others, he preyed upon the people’s dreams by conning them into believing that they could buy a new home, knowing full well that a few years down the road that they would have their dream snatched right from under their feet via the trauma of going through a foreclosure, a tragic experience Bill Clinton provided for 15 million people.
In 1998 President Clinton made two significant appointments, both of which were selected solely for the purpose of expanding and promoting the Subprime Loan Scheme; one being Franklin D Raines as CEO for Fannie Mae, and Andrew Cuomo as Deputy Secretary of HUD.
Other team members included House Finance Services Committee Senior member Barney Frank, and Senate Finance Services Manager Christopher Dodd. Representative Maxine Waters, Alan Greenspan, and even Barack Obama played a role in the scheme.
The significant aspect of President Clintons “re-enacting” the Jimmy Carter Community Reinvestment Act of 1977 was the addition of “stringent” mandates which literally forced private sector banks to make a minimum percentage of high risk/toxic home loans or face Government Sanctions.
The final piece of the puzzle was put in place in 1999 when President Clinton repealed the Glass-Steagal Act of 1933, in essence lifting the restriction that only Savings & Loans could make home loans, opening the flood gates for any all types of finance companies to make home loans.
Without the involvement of the GSE”s “Fannie Mae” and “Freddie Mac” the Subprime Home Loan Scheme could not have been executed, period! Further, had Fannie and Freddie simply maintained the stringent requirements they adhered to for the preceding five decades, the Housing Industry would never have collapsed.
In fact, if Bill Clinton hadn’t been elected at all, our nation would never have experienced an economic downturn, let alone the Great Recession!
For many years commencing in the late 1990′s Franklin D Raines made it common knowledge in the financial industry that when it came to the Subprime Home Loans, Fannie Mae would purchase them without hesitation, and further, the low income minorities would not be required to provide a down payment, nor any established credit, nor even proof of being a US citizens, and better yet, the first term would be amortized on 0% interest and interest only, keeping those payments way, way, way, way down!
By 2004 as more, and more of the subprime loans were failing it became impossible for Franklin D Raines to lie fast enough to conceal the crisis unfolding in the GSE, and sure enough when it was discovered that Franklin D Raines was skewing the books he was forced to resign, and a three year investigation was launched, focusing on the 6 years Raines was the CEO (1998 – 2004).
In May of 2006 the Office of Federal Housing Enterprise Oversight (OFHEO) issued its reporton Fannie Mae’s operations under Franklin D Raines, which acting director of OFHEO, James B. Lockhart, stated;
“Our examination found an environment where the ends justified the means. Senior management manipulated accounting, reaped maximum, undeserved bonuses, and prevented the rest of the world from knowing.”
The report charged that the reported earnings from 1998 to mid-2004 were bogus values generated by erroneous accounting practices. These fraudulent earnings then were used to justify enormous bonuses for the senior management. The extent of the fraudulent accounting profits was a mind-boggling $11 billion. The sizes of the undeserved bonuses were not just millions of dollars, or even tens of millions of dollars. Instead they were hundreds of millions of dollars.
Even as the devastation stemming from the Subprime Home Loan Scheme was starting to surface, it didn’t dissuade the traitor team from lying to the people, as Barney Frank and Chris Dodd were more than happy to hold various Press Conferences loudly disputing any all claims that Fannie and Freddie were experiencing financial problems ……. right up until 2006 that is, when the lies shifted from denial to pointing to a scapegoat!
The irrefutable, undeniable, inescapable evidence that Bill Clinton was the “driving force” behind the well thought out, and the implementation of the Plan, which was designed for the specific purpose of toppling the Worlds Greatest Economy is;
Fannie Mae, the Government Sponsored Enterprise, which was under the oversight of the Senate and House Finance Services Committees, Chaired by Senator Chriss Dodd, and Barney Frank, both key players in the scheme.
When Bill Clinton appointed Franklin D. Raines as the CEO of Fannie Mae in 1998, Raines had one assignment, and one assignment only, coerce the banks throughout America to make subprime loans by ASSURING them that Fannie Mae would purchase the toxic loans, as no bank in the world would make such a loan otherwise.
Fannie Mae, for over 60 years purchased ONLY AAA loans, loans that were made wherein the borrower had a significant down payment, provided proof of their ability to qualify for and repay the loan.
Raines ended that policy, and then, once the first round of loans ended their first term of the variable rate loans, and the payments skyrocketed, the failures commenced, and Raines, Frank, and Dodd kept the truth hidden from the people all the way until 2004 when it was already at a crisis level.
Without Fannie Maes participation, at most, a few thousand of these “designed to fail” loans would have been made, as the banks would be stuck with them forever, and therefore unable to free up more revenue for their banks.
Supply and Demand is what drives a free economy! When the federal government manipulates the market like the Clinton administration did with respect to the Housing/Finance Industries; it is no longer a free market, but a controlled market.
Blaming the Housing and Financial crisis on “Capitalism” was a key objective of the Subprime Scheme, which forced hundreds of thousands of small businesses to go under around the country.
Communism cannot coexist with Capitalism, nothing about communism is free, neither the people, or its provisions to the people, they are only provided what the Dictator decides, and only if the people are obedient, compliant, and do as they are told, and at times not even then!