The bank bailouts we’ll only cause more bank failures. The reason why there are so many house foreclosures is because toxic mold has
infested more than 50% of American Homes. The Government refuses to accept the fact that mold is toxic. This has cause mold to spread
to other house’s an has reached epidemic proportions. Homeowners, have not lost their jobs and they could have refinanced. However,
homeowners do not want to stay in the toxic mold homes and the only option they have, is to let the toxic mold house, go back to the bank.
As the government refuses to acknowledge that these homes are toxic. This is an issue I had been fighting the government for since 2005.
Still gov’t refuse to listen. I told them the cure for the bank’s failing. That was to put a $5.00 a gallon tax on gasoline, to force the
automobile companies to make more fuel efficient cars and stop us from sending $1 Trillion a year out of the country in foreign Oil.
What This has done is devalued the dollar. This is the reason why banks are failing. Let’s look at a man who purchased a house 10 years
ago for $100,000. In his agreement he is to pay the bank $1000 a month for 25 to 30 years. This was a good deal 10 years ago. $100,000
American was worth $100,000 American. 10 years ago with $100,000 you could have exchanged it for about $140,000 Canadian. So each
month the bank got $1000 American on each home loan and they thought it was a good deal, because they could purchase $1400 Canadian
with it.
The value of the dollar has dropped and the loan payment is still $1000 for each $100,000 loan, that was made in the last 30 years. Today
the bank gets their $1000 check, but they can no longer by $1400 Canadian with it. Soon they will only be able to buy $900 Canadian. This
means that for each check they expect to get, has loss about $500 value Canadian, for every $1000 payment on loans they made in the last 30
years.
Every time the value of a dollar drops a penny, the banks lose $10.00 for each $1000 they loaned out, in the last 30 years. That adds up to
billions and billions of dollars. AIG has $1 trillion in assets. That means they have $! trillion loaned out, that they’re trying to collect on. For
every penny the American dollar loses in value, AIG loses 1% of that $1 Trillion. That’s $10 billion for every penny, the dollar of the value
decreases. With that 700 billion loan, could decrease the value of the dollar by 60ยข. I’m not a genius, but I know how to add and multiply.
That Means AIG alone would lose 600 billion on their assets, because of that $700 billion loan. The entire economy will collapse, because
every bank will lose more than 60% of the value on their assets. The Banks need to look at their assets and ask themselves do they want to
lose 60% of their assets to get out of a few bad loans? Do they want that homeowner check for a $1,000 now, when it’s only worth $900
canadian? Do they want the value of the dollar to go down lower? For every penny, 10 Billion, for each trillion in assets.
Duration : 0:6:57
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Watch the end. John McCain PWNED by John McCain himself! I think John McCain DOES say it quite well himself. No need to elaborate. He puts it nicely.
In a desperate bid to improve the public finances, the Final Nail Party take to the streets to raise money for troubled Irish bankers. Featuring Brian Cowen, Brian Lenihan, and Mary Coughlan.