Bernanke Saves Bear Stearns While Americans Live In Tents

The Rear Guard
March 17, 2008

After bailing out America’s broke banks to the tune of $200 billion, the Federal Reserve turned their philanthropic eye to Bear Stearns, and they’re not even a bank! In a similar exchange to the bank bailout, Bear Stearns traded worthless mortgage backed securities for Treasury notes.

The Fed, having pledged $30 million in Treasuries to the bankrupt firm, and $200 billion to the broke banks, now owns the homes of almost a quarter of a million Americans. Meanwhile, Illuminati controlled JP Morgan Chase just announced that they had bought Bear Stearns for a paltry $236 million.

And while most devastating to the working and middle class, even the wealthy are loosing their homes. Maryland recently reported that the total number of foreclosures this year alone equals 40% of all homes sold in 2006.

"The worst is yet to come," warned Eric S. Friedman, director of Montgomery County’s Office of Consumer Protection. "A lot more adjustable-rate mortgages are going to be resetting in 2008 and 2009."

In a very real sense, the Federal Reserve has just perpetrated the biggest land grab in the last 100 years by trading worthless paper for real estate. Now good people, United States citizens, having been sold out by their government and stripped of their homes and property, must live in tents and shanties, while criminal, predatory bankers get rich and fat off of the sweat and effort of our country.

This is economic destruction and financial slavery. It has to stop. The press in this country are obviously propaganda outlets controlled by the Elite. Why else wouldn’t they warn us? Why else would they omit such a serious breach and cover up the fact that their own countrymen are living outside?

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This article was posted: Monday, March 17, 2008 at 5:16 am

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