La Cucaracha by Lalo Alcaraz for October 24, 2011

…The perfect Tea Party spokesman…put him next to the donkey and elephant…

With the Fed keeping interest rates near zero, the banks can’t make money by lending and are desperate for other ways to make a buck.

User fees on debit cards are not the smartest idea, but they are in the same category as the unjustifiable mortgages that government policy forced banks to make which were the start of the domino fall that started in 2008.

Anonymous: Bank Transfer Day, November 5th Screw the banksters!

Popular Bank/Banco Popular or money under your mattress..ha!

Pschearer is living in an alternate reality. He thinks the bad loans were only to minorities & were only pushed by Democrats. Talking about Janet Reno having much to do with the financial crisis is beyond the realm of stupid.

Most of the bad loans were made during the Bush administration. The GOP adopted a policy of encouraging home ownership, and used HUD & Fannie Mae to push that agenda. Even so, most of the bad loans that were made had nothing to do with Fannie, Freddie or HUD. The overwhelming bulk were private mortgages to people who made a bad assumption about the continuing real estate bubble.

The banks and other parties involved in making those loans knew the assumptions were bad, but they were making boatloads of money, so why would they care? They were able to do this because Congress, (mainly republicans in Congress), lifted restrictions on how the entire mortgage industry worked.

He talks about “allowing the housing market to clear”, which is doublespeak for let the average homeowner be ruined so investors can snap up properties at depressed prices. This is the sort of thing that is motivating OWS.

Her’s a good rebuttal of the whole right wing lie about this:

http://www.dailykos.com/story/2008/11/16/660423/-Down-the-Republican-Rabbit-Hole

Yea, well, use this (please insert vertically extended middle finger).