I must tip my hat to the dynamic comedy duo of Clark and Dawes who created the “Bailout” bit back in 2008!
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From Monday, 13 March, 2023 Mike Church Show (catch the whole episode here).
Bailout 2.0 Is Underway
Silicon Valley Bank -
Dodd-Frank Act - Wall Street Reform and Consumer Protection
QUESTION: Who signed this act?
ANSWER: Barack Obama
This came on the heals of the collapse in 2008.
Mortgage Backed Securities -
They were buying what was called SUB-PRIME mortgages.
The Big Short - movie about how all this happened.
This included Freddie Mac and Fannie Mae, more so with Fannie Mae.
Your local savings and loan, almost all of them were put out of business by the reform you see.
How did all of this happen?
When Congress acted…that’s when all this happened.
The one thing we have going for us is Nancy Pelosi doens’t have the gavel right now.
This isn’t to say McCarthy isn’t going to take a swipe at this.
AIG, car companies, bank bailout and they just kept coming.
TARP = Troubled Asset Relief Program - is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by Congress and signed into law by President George W. Bush. It was a component of the government's measures in 2009 to address the subprime mortgage crisis.
They went to a central digital banking currency.
When the people of Nigeria do?
They all made a bank run to get their cash out.
Nigerian government shut down all the banks and ATM’s.
Then there were riots and food shortages.
THIS does not fix the problem it makes the currency issues worse.