Faked Reform
By John Schroy, on June 27th, 2010 | 
The immediate cause of the worldwide financial Crash of 2008 was the extensive granting of sub-prime mortgages.
The Dodd-Frank financial reform bill introduced in Title XII, “IMPROVING ACCESS TO MAINSTREAM FINANCIAL INSTITUTIONS”, a new, fraud-prone solution to a non-existent problem, the granting of $2,500 loans to middle and low income borrowers.
In combination with other political funds, this program could be an extremely powerful tool for voter fraud. In fact, it is difficult to imagine why else it would be inserted into the Dodd-Frank Act.
Social change:
By John Schroy, on June 25th, 2010 | 
Restricted availability of consumer credit and a greater propensity of households to save before spending, may result in less use of credit cards and smaller mortgages. A return, even partial, to saving habits of the 1950s could stimulate economic recovery.
The popular Dave Ramsey radio and TV shows suggest that a societal change in this direction is at least possible. Lower levels of personal debt would boost the economy and make people happier.
This is a 'game-changer'
By John Schroy, on June 12th, 2010 | 
The current economic crisis, which started with the market crash of 2008, is a ‘game-changer’ that requires effective leadership with a firm grasp of economic reality and a willingness to introduce sensible bipartisan reforms in many areas of financial markets.
Unfortunately, these conditions are unlikely to be met before 2016. In the meantime, history suggests that there are likely to be many false rallies and dashed hopes before true recovery begins.
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