The New York Fed Working to Bend Real Estate Law to Suit Needs of Banks « naked capitalism

I tend to agree with the crisis not ending until "rule of law" is restored. However, the defenders of the status quo, our current monetary system, will gladly change the law to suit their purposes. Not only did the Fed inject $T's in liquidity to banks all over the world, but toxic mortgages were bought from these banks, leaving the public holding both end of the bag.

$6.5T lost in housing equity, and $T's more in public debt. This isn't going to end well. A balanced budget amendment and tax reform will go a long way. Let the big banks have their way, as long as everyone pays their fair share of the tax burden, and our federal government quits spending more than it takes in in tax reciepts.

The New York Fed Working to Bend Real Estate Law to Suit Needs of Banks « naked capitalism