Whoa…

Jay is pissed. Can’t say I blame him. This is what happens when you expect the government to redistribute. Sooner or later, the bottom falls out of those schemes and devalued capital takes up the slack.

The Clinton administration insisted that the banks make loans to minorities and the urban poor who simply shouldn’t have gotten them. Meanwhile he insisted that Freddie and Fannie secure ever increasing percentages (over 50%) of those liar loans but then let Wall Street run amok by letting the banks securitize those loans and sell them on the stock market as REITs (real estate investment trusts).

Ultimately the banks really didn’t have to worry about those loans being paid back since some other sucker was now on the hook. Unfortunately those suckers were otherwise indebted to some other Wall Street bank so when they experienced rising defaults the dominoes started falling. Caught up in this were some very hard working prosperous people like Jay.

It’s a tragic event that never needed to happen but each of the 3 previous administrations were part and parcel of this. Meanwhile the foundation of this extends even further back. Way back. Back all the way to before the Great Depression.

And so here we are. Some Americans are more worried about the interests of foreign nationals than about their fellow countrymen. Yet they don’t seem to even understand that these executive orders are attempting to eliminate the flow of illegal immigration.