Ryan Price's Soapbox

Regardless of political affiliations anyone should find this as grotesque as I do. Now contrary to what has been said; Citigroup paid back their loan plus a profit. It is a lie. The Fed has kept interest rates low to essentially allow Citibank to pay us back with our own money. You can take it from the former head of TARP: The Fed not only wants to stimulate the economy but also to recapitalize the banks. So basically what we have here is no punishment what’s so ever that fits the crime. $285 million is a drop in the bucket.

With the onset of aggressive lending people like Barney Frank pushed this type of lending. Citibank is a monster, and we need to blame the right people. The mortgage industry has been corrupt for the last 30+ years . The politicians made the rules, and the lenders followed and were forced to do so least they be punished severely. Ever since the Citizens United case in the Supreme Court ;corporations are protected by the same rights as individuals, yet they aren’t subjected to the same accountability. This is what got us into this mess even worse was removing any responsibility from the hands of the people doing the loan giving. In the end you have an underwater mortgage with Citi that is for the most part based on fraud. They hold these toxic mortgages and pass them off to the ratings agencies as golden AAA securities while betting against them with credit default swaps. and yet These pricks got off easy.. Where’s my pitchfork?