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How Millions of Americans Got Tricked Into Using a Bank That Isn't a Bank

The repeal of Glass-Steagall allowed banks
to own exchanges.  Before the repeal, banks
could not own an exchange.

Banks went to the New York Stock Exchange,
the Nasdaq and the American stock exchange
and asked them to trade mortgage-backed securities
so that the banks could thereby raise cash to
fund new mortgage lending.  The exchanges
refused, saying that mortgages were not 
investment-grade securities.

After the repeal, banks bought the Philadelphia
exchange and began packaging and trading
mortgage-backed securities.  As the fees and
Commissions on mortgages were very attractive
banks could now write mortgages, then, instead
of having to hold them to term, to raise money
to write new mortgages, they could sell them
to investors as securities that could be traded
on the exchange, the bank now owned.

This worked well until fierce competition broke  
out among the banks, each struggling to keep up
its own earnings, to ensure profitability strong
enough to fend off takeovers/corporate raiders.
To this effect, the barriers to writing new 
mortgages kept being lowered by each bank 
to allow more mortgages to be written, to 
keep pace with their competitors, setting off 
a "race-to-the-bottom". 

Soon, as you'd expect, fraudsters came in to take
advantage of these easy loan practices, and they
took mortgages on various fraudulent properties.
When people trading mortgage-backed securities
learned that there was fraud in the market, they
stopped buying, and that prevented banks from 
getting the cash to write new mortgages.  Worse
yet was, the fact that the market was pursued 
so furiously that records were not fastidiously
kept, and so the securities tainted by fraud could
not be identified.  That, in turn, led to the total
lock-up of the financial markets and the disaster
of 2008 until the government stepped in to bail
out the biggest players and unfreeze the markets.

Unfortunately, much time has passed since that 
disaster unfolded, and many people today have 
no idea of what happened, and/or the fact that
The law, whose repeal allowed it, has not been
changed back or otherwise rectified, thus we are
at risk of it all happening again in the future.

MS NOW Highlights - June 25 — Voting Rights Ruling

While I was wondering about why Trump made a
sudden about-face on his attacks on Iran, it came
to me that when coupled with his admin's anti-
vaxx and anti-science/medical and any rational
management style, it hit me that... "What if?"

What if unvaccinated crew members on those
ships stationed in the Gulf had sparked some
sort of outbreak? An aircraft carrier is a very
tightly knitted machine of interdependent 
groups of experts and highly trained crews.
So, if, for example, Montezuma's Revenge 
should break out, it could spread rapidly and
disable the entire ship. 

Just imagine 4,000 men and women vying for
a paltry 100 bathrooms.  Obviously, not all are
going to make it, and very soon, the ship is going
to smell like a porta-potty at a million-man rally.
That, along with the possibility of measles and other
disease outbreaks impacting the ability of the
flotilla to operate effectively, and Trump is sure
to have panicked and sought an immediate end
to hostilities.

Earthquakes, Taylor Swift Wedding Clues, Plane Crash - NBC Nightly News Full Episode with Tom Llamas

Is it my imagination or are those kilts a bit shorter this year??!! (LoL)

“Horrifying” midair emergency: ABC World News Tonight with David Muir - June 24, 2026

Is it my imagination or are those kilts a bit shorter this year??!! (LoL)

🚨 TOP General SUDDENLY QUITS as US MILITARY IN CHAOS!!!

The Russians are tuning in to watch stuff like this
and laughing their asses off that our military is in
such ideological chaos, while the rest of the free
world watches in horror.

BREAKING: Senate Votes To Stop Iran War| Mamdani Wins| AIPAC Loses

WHILE WE HAVE LAWS THAT RECOGNIZE 
"CRIMINALLY NEGLIGENT HOMICIDE"
WE HAVE NO LAWS THAT RECOGNIZE 
"CRIMINALLY NEGLIGENT HOMICIDAL
MISUSE OF THE POWERS OF AUTHORITY".
KNIFE OR GUN CAN KILL A FEW PEOPLE, 
MISUSED AUTHORITY CAN AND OFTEN 
DOES KILL THOUSANDS, TENS OF THOUSANDS
AND EVEN MILLIONS OF PEOPLE.  MURDER
BY THE NEGLIGENT AND/OR RECKLESS USE
OF AUTHORITY NEEDS TO BE ADDRESSED BY
LAWS THAT CAN HOLD ACCOUNTABLE THOSE
WHO WEILD THE POWER OF THEIR AUTHORITY
IN WAYS THAT A PRUDENT PERSON WOULD 
REALIZE WILL NEEDLESSLY AND UNFAIRLY
CAUSE THE DEATHS OF HUMANS, WITHOUT
A REASONABLE DEFENSIVE EXCUSE THEREFORE.
FOR AN EXAMPLE, I WOULD SUGGEST THAT
TURNING MEDICAL DECISIONS OVER TO AN
AI APP, WHICH CANNOT POSSIBLY PROPERLY
WEIGH MATTERS OF LIFE AND DEATH OR
THE IMPORTANCE OF LIFE ITSELF BECAUSE
THE MACHINE HAS NO ABILITY TO UNDERSTAND
THE EMOTIONAL IMPORT OF THE SUBJECT AND
HOW THAT SHOULD NOT BE THE SUBJECT OF 
COLD LOGICAL REASONING ALONE, WOULD
LEAD TO IRRATIONAL DECISIONS BEING MADE
THAT COULD THOUGHTLESSLY SEND PEOPLE
NEEDLESSLY TO EARLY GRAVES JUST TO SAVE
A FEW BUCKS.

IN THE END, IF SUCH LAWS BE PASSED, IT WILL
STILL BE A JUDGE AND/OR A JURY TO DECIDE
THE ULTIMATE DISPOSITON OF THE MATTER.

James Comer PANICS As Suspicious New Details Over Epstein's Death Emerge

Let's say, for the sake of argument, that there are 10 boxes that need to be checked if Epstein committed suicide, and that there are also 10 boxes that need to be checked if Epstein were to be spirited out of prison. Now, of the 10 boxes for suicide, 3 are checked for sure, 3 more are questionably checked and 4 boxes have no checks at all. While of the boxes needed to be checked if he were spirited out of prison somehow, all 10 boxes are checked unquestionably. I, mean, what else, for example Would you call the "identification box" of the missing tattoo? Now, factor in the fact that Epstein was no rube, he was a knowledgeable and sophisticated "world beater," who knew his way around in the world and had friends and advisers who were also some of the very best and most knowledgeable people, of wealth and power, and with way too much to lose, not only by being connected with Epstein if he was caught, but Some of whom were pedophiles themselves. This is exactly the kind of "soup" that kompromat on the right people, could get one sprung from any prison. Especially in such a high-profile case where "a suicide" would be the only rational way to remove him from prison without creating more harm than good. And, as if such speculations weren't enough to be easily ridiculed, we have his prior arrest on what should have been a very serious career-ending crime that would have 99,999,999 people out of 100 million, locked away in prison for life, he's sitting in an office on leave each day, and free to continue plying his "trade". Now, tell me about how this man might have lacked connections powerful enough to pull off "miracles"!

Former JAG officer torches Hegseth's "warrior ethos": "A total abomination."

WILL HEGSETH NOW BE KNOWN AS:
THE ABOMINAL WARMAN?
HAHAHA...

Trump blames Reflecting Pool woes on vandals, threatening prison time

Also, at a jury trial it can be noted that
Trump pardoned the J6 people, so that
can be a case for "equal justice under
the law". that either the judge or jury
can be asked to consider.

John Roberts: Everything You Didn't Know About His Sh*tty Past

That expression on Robert's face... I've 
seen it before... on Jabba The Hut!

‘Bibi does not want this deal’: U.S. peace talks set after Iran closes Strait of Hormuz

Unfortunately, there is now no way to achieve the
level of success of the JCPOA because the illusions
of strength that might have existed before has now
been squandered and completely dispelled by Trump's
serious blunder that has weakened the U.S. in the 
eyes of Iran and the world.  Trump's failure has
created an illusion of opportunity for the U.S. to
be challenged, where there was once an illusion
of invincibility.  Stupid is as stupid does.

IHIP News: SNOWFLAKE BILLIONAIRE Knicks Owner TRIGGERED By NYC's Love For Zohran Mamdani?!

The UFC fighter who made of himself 
a small peice of excrement on the shoe
of America, has not and will not ever
apologize... [click here]

Top U.S. & World Headlines — June 18, 2026

THE ANSWER IS SIMPLE:
ELECT STUPID PEOPLE, EXPECT STUPID THINGS
TO HAPPEN!

Wednesday, June 17, 2026