Voice of the White House

March 16, 2008

Washington, D.C.:
“Things fall apart/the center cannot hold...” This is from Yeats’s poem, 'The Second Coming,' but it can certainly apply now. The enormous fake mortgage racket is bringing down some of the most important banks, lending houses, and corporations in America. The crooked brokers have long since banked their loot out of the country and fled jurisdictions, leaving their knowing crime partners, the big banking houses, behind to take the growing heat. What is coming? The collapse of the national credit system, to include credit cards. Many Americans have been living on their credit cards, running up huge bills that they would deal with when they reupped their mortgages. That stopped and now their houses are maxed out and if they were able to find a buyer who could even get a loan, the house is now worth less than the mortgage, so if they sold, they would still owe the banks. That’s why people are walking away from their over-extended homes, their bloated mortgages, and their credit cards. Now, we have building scandals in the government areas. Some nice party has a trove of incriminating documents, spirited out of the CIA by an old-time agent and about to be put up on the Internet. I have read some of this material and it makes the hair stand up on the back of the neck. The net result of all this destroys the confidence of the public to such a degree that it will take many years to rebuild the lost trust.