Paul Sperry - The Great American Bank Robbery : The Unauthorized Report about What Really Caused the Great Recession in TXT, DJV
9781595552709 English 1595552707 It's now official: According to the Federal Reserve, the financial crisis wiped out $14 trillion in American household wealth--an amount equal to more than $120,000 per household. Yet Americans didn't lose it--it was taken. By whom? President Obama blames "fat cat bankers"--and polls show that 80% of Americans agree with him. But in The Great American Bank Robbery, award-winning journalist Paul Sperry offers a welcome rebuttal to this false narrative, presenting fresh evidence that government social engineers masterminded a massive bank heist with help from accomplices in the "affordable housing" sector. And now they're back in Washington planning another heist with Obama. In a detailed narrative illustrated by charts and graphs, and supported by over 50 pages of footnotes, Sperry exposes how the shakedown artists colluded at every step of the way--from Chicago to Washington--to formulate the banking regulations and housing policies that socialized mortgages, gutted traditional underwriting standards, and led to the worst financial calamity since the 1930s. Sperry also reveals how the 9/11-type commission impaneled to investigate the subprime crime set up Wall Street bankers to take the fall for Washington politicians and their cronies. This book is the report they should have produced but didn't, and the truth they don't want you to know. Highlights: President Obama's own fingerprints are on the subprime scandal, and you'll meet his bank-hating Chicago mentor whose radical "anti-redlining" group not only has unfettered White House access but has had a hand in shaping Obama's financial regulations. Several Clinton-era architects of the disastrous housing policies that caused the crisis have returned to the scene of their financial crime; they're back at HUD and other federal agencies, now making Obama housing policy and making the same reckless mistakes. The Obama administration is pressuring mortgage loan officers to consider as valid sources of income unemployment benefits, welfare checks or food stamps--repeating the cycle of lower underwriting standards that led to the housing crisis., Sperry's exhaustive research reveals the economic costs of high-risk subprime mortgages and a host of other dangerous multicultural trends that have derailed the American economy., The Great American Bank Robbery reveals how the U.S. is being shaken down in the name of multiculturalism and diversity.In the Panic of '08, the American economy had a great fall, and nobody-from the president to the treasury secretary-could put it back together again. Only�it didn't really fall. It was pushed, and this book will identify the guilty muggers. Sperry's exhaustive research reveals the economic costs of high-risk subprime mortgages and a host of other dangerous multicultural trends, including: Islamic banking� banking with illegal immigrants gay rights the Indian casino monopoly and the rash of frivolous race-bias suits shaking down the travel and lodging industriesMany are buying into the business-bashing and Big Government salves peddled by the same progressive quacks who got us into this mess. But if we blame the wrong culprits, taxpayers will be on the hook for even bigger bank bailouts down the road., The average American household lost $123,000 in wealth during the financial crisis. The Financial Crisis Inquiry Commission says Wall Street stole it, appearing to confirm the narrative told by countless politicians, economists, and pundits. The verdict seems unanimous. In fact, it's unanimously wrong. The masterminds behind the biggest heist in history were radical social engineers on Pennsylvania Avenue, not financial engineers on Wall Street. The Great American Bank Robbery offers the first careful and thorough analysis of public policy's role in the calamity. With stinging clarity, it indicts the real culprits--many of whom have returned to the scene of the crime in Washington. Now they're planning an even bigger heist in the name of "economic justice." Robbery also answers why: Asian-Americans weathered the mortgage crisis better than other groups, including whites. Alan Greenspan shares blame for the crisis for reasons that have nothing to do with interest rates. Minorities accounted for half the new homeownership growth during the housing bubble. 25 of the 33 counties with the nation's highest foreclosure rates are located in California, Florida and Nevada. Even nonbank mortgage lenders unregulated by bank anti-redlining laws eased lending standards and waded into the risky subprime market. Bankers earned a reputation for lending discrimination, and why they still can't shake it and, now for the first time, must collect and report data on minority small business lending. The debate over what caused the crisis is heating up again, as new Republican leaders in Congress call for repealing Democratic financial reforms aimed at Wall Street and dismantling Washington-based Fannie Mae and Freddie Mac, which escaped reform. Veteran financial newsman Sperry's seminal research and hard-hitting reporting blows the lid off the subprime scandal. Robbery contains more than 50 pages of footnotes, data tables, and charts backing up its numerous revelations., You may not realize it, but you helped pay for a $10million, fourteen-month government "investigation" of the housing collapse.Only your $10 million didn't buy much, and it certainly didn't buy truth; anyhope of that went out the window on day one. The congressionally appointed panel-made up primarily ofanti-market, historic revisionists-managed to shift the blame away fromWashington and onto mortgage lenders and "greedy" Wall Street executives, whileprotecting the real culprits at the core of the crisis: POLITICIANS LIKETHEMSELVES. It's not about Democrat or Republican, left or right, blackor white. It's about the usual suspects-money and power and the people who usegovernment to manipulate them for private advantage. The Great AmericanBank Robbery maps out in detail exactly how Washington social engineers andtheir accomplices reshaped banking regulations and housing policies and guttedtime-tested underwriting standards that led to the worst financial calamity sincethe 1930s, one that has robbed American households of $14 trillion in networth. And they're not done yet . . .
9781595552709 English 1595552707 It's now official: According to the Federal Reserve, the financial crisis wiped out $14 trillion in American household wealth--an amount equal to more than $120,000 per household. Yet Americans didn't lose it--it was taken. By whom? President Obama blames "fat cat bankers"--and polls show that 80% of Americans agree with him. But in The Great American Bank Robbery, award-winning journalist Paul Sperry offers a welcome rebuttal to this false narrative, presenting fresh evidence that government social engineers masterminded a massive bank heist with help from accomplices in the "affordable housing" sector. And now they're back in Washington planning another heist with Obama. In a detailed narrative illustrated by charts and graphs, and supported by over 50 pages of footnotes, Sperry exposes how the shakedown artists colluded at every step of the way--from Chicago to Washington--to formulate the banking regulations and housing policies that socialized mortgages, gutted traditional underwriting standards, and led to the worst financial calamity since the 1930s. Sperry also reveals how the 9/11-type commission impaneled to investigate the subprime crime set up Wall Street bankers to take the fall for Washington politicians and their cronies. This book is the report they should have produced but didn't, and the truth they don't want you to know. Highlights: President Obama's own fingerprints are on the subprime scandal, and you'll meet his bank-hating Chicago mentor whose radical "anti-redlining" group not only has unfettered White House access but has had a hand in shaping Obama's financial regulations. Several Clinton-era architects of the disastrous housing policies that caused the crisis have returned to the scene of their financial crime; they're back at HUD and other federal agencies, now making Obama housing policy and making the same reckless mistakes. The Obama administration is pressuring mortgage loan officers to consider as valid sources of income unemployment benefits, welfare checks or food stamps--repeating the cycle of lower underwriting standards that led to the housing crisis., Sperry's exhaustive research reveals the economic costs of high-risk subprime mortgages and a host of other dangerous multicultural trends that have derailed the American economy., The Great American Bank Robbery reveals how the U.S. is being shaken down in the name of multiculturalism and diversity.In the Panic of '08, the American economy had a great fall, and nobody-from the president to the treasury secretary-could put it back together again. Only�it didn't really fall. It was pushed, and this book will identify the guilty muggers. Sperry's exhaustive research reveals the economic costs of high-risk subprime mortgages and a host of other dangerous multicultural trends, including: Islamic banking� banking with illegal immigrants gay rights the Indian casino monopoly and the rash of frivolous race-bias suits shaking down the travel and lodging industriesMany are buying into the business-bashing and Big Government salves peddled by the same progressive quacks who got us into this mess. But if we blame the wrong culprits, taxpayers will be on the hook for even bigger bank bailouts down the road., The average American household lost $123,000 in wealth during the financial crisis. The Financial Crisis Inquiry Commission says Wall Street stole it, appearing to confirm the narrative told by countless politicians, economists, and pundits. The verdict seems unanimous. In fact, it's unanimously wrong. The masterminds behind the biggest heist in history were radical social engineers on Pennsylvania Avenue, not financial engineers on Wall Street. The Great American Bank Robbery offers the first careful and thorough analysis of public policy's role in the calamity. With stinging clarity, it indicts the real culprits--many of whom have returned to the scene of the crime in Washington. Now they're planning an even bigger heist in the name of "economic justice." Robbery also answers why: Asian-Americans weathered the mortgage crisis better than other groups, including whites. Alan Greenspan shares blame for the crisis for reasons that have nothing to do with interest rates. Minorities accounted for half the new homeownership growth during the housing bubble. 25 of the 33 counties with the nation's highest foreclosure rates are located in California, Florida and Nevada. Even nonbank mortgage lenders unregulated by bank anti-redlining laws eased lending standards and waded into the risky subprime market. Bankers earned a reputation for lending discrimination, and why they still can't shake it and, now for the first time, must collect and report data on minority small business lending. The debate over what caused the crisis is heating up again, as new Republican leaders in Congress call for repealing Democratic financial reforms aimed at Wall Street and dismantling Washington-based Fannie Mae and Freddie Mac, which escaped reform. Veteran financial newsman Sperry's seminal research and hard-hitting reporting blows the lid off the subprime scandal. Robbery contains more than 50 pages of footnotes, data tables, and charts backing up its numerous revelations., You may not realize it, but you helped pay for a $10million, fourteen-month government "investigation" of the housing collapse.Only your $10 million didn't buy much, and it certainly didn't buy truth; anyhope of that went out the window on day one. The congressionally appointed panel-made up primarily ofanti-market, historic revisionists-managed to shift the blame away fromWashington and onto mortgage lenders and "greedy" Wall Street executives, whileprotecting the real culprits at the core of the crisis: POLITICIANS LIKETHEMSELVES. It's not about Democrat or Republican, left or right, blackor white. It's about the usual suspects-money and power and the people who usegovernment to manipulate them for private advantage. The Great AmericanBank Robbery maps out in detail exactly how Washington social engineers andtheir accomplices reshaped banking regulations and housing policies and guttedtime-tested underwriting standards that led to the worst financial calamity sincethe 1930s, one that has robbed American households of $14 trillion in networth. And they're not done yet . . .