Both "Banks" and "Government" are artificial entities created and run by individuals. Due to the fiat money power that banking cartel wields through the Federal Reserve, and the fact that lawmakers and regulators too need to have food, clothes, shelter, transportation, medicine, family and friends . . . not to mention that political campaigns are immensely expensive nowadays, the group of individuals running the banking cartel also run the government. That explains why all the laws and regulations (and their enforcement) are designed to keep out competition.

Banking is immensely profitable in normal expansionary times. As in any industry, profit attracts new entrants that would offer better alternatives and better value to consumers. They would also reduce the profit margin of lumbering incumbents. That's why nonsensical laws and regulations like the government sponsored agencies (FNM, FRE, etc.) and regulatory backstops like deposit insurance and FED bailouts were created with even more nonsensical laws (like forcing lending to non-creditworthy borrowers, and forcing the use of the 3 oligopolistic rating agencies) sprinkled on top. Those laws and regulations are designed to eliminate smaller competition (who do not get bailed out), so that the banking cartel is maintained. The more regulations, the more complete the monopoly would become. Laws and regulations are not written or enforced by omniscient, omnipotent and entirely selfless entities in the sky and beyond; they are done by the highest bidder. In a system where some individuals are given the power to create money out of thin air and everyone else is regulated into accepting it at face value, it's quite obvious who the highest bidder is.

posted by 24.91.39...

• Look at the third picture of the house I just gave up., John Myers, Wed, 20 Jul 2011 21:09:37
  • Saab Certified, nice!, Boston Baab, Thu, 21 Jul 2011 05:39:35
    • Re: Saab Certified, nice!, John Myers, Thu, 21 Jul 2011 08:16:48
  • Trying again, John Myers, Wed, 20 Jul 2011 21:11:00
    • Re: Trying again, TML , Thu, 21 Jul 2011 01:04:47
      • Pity the rest of the world, Reality, Thu, 21 Jul 2011 08:45:41
      • Re: Trying again, John Myers, Thu, 21 Jul 2011 07:57:41
      • house prices in US are so cheap!, sab, Thu, 21 Jul 2011 03:29:39
        • Not in San Diego, Mike Lynch , Thu, 21 Jul 2011 11:24:45
          • Re: Not in San Diego, sab, Thu, 21 Jul 2011 15:16:10
            • Re: Not in San Diego, Bruce, Fri, 22 Jul 2011 10:19:15
        • Re: house prices in US are so cheap!, Les_H, Thu, 21 Jul 2011 06:57:42
        • Depends on location, Noel, Thu, 21 Jul 2011 06:11:58
        • Re: house prices in US are so cheap!, EGD , Thu, 21 Jul 2011 05:36:17
          • Are prices down to NORMAL?, vvk, Thu, 21 Jul 2011 06:17:27
            • Re: Are prices down to NORMAL? Maybe!!, Noel, Thu, 21 Jul 2011 06:26:39
              • Re: Are prices down to NORMAL? Maybe!!, TML , Thu, 21 Jul 2011 07:48:52
                • Re: Are prices down to NORMAL? Maybe!!, John Myers, Thu, 21 Jul 2011 08:06:39
                  • Yes, but..., vvk, Thu, 21 Jul 2011 17:51:54
                    • I agree..., James, Fri, 22 Jul 2011 02:27:53
                      • I used to think that way, Reality, Fri, 22 Jul 2011 08:43:56
                  • Re: Afordable housing, BobS, Thu, 21 Jul 2011 12:26:15
                    • Banks not government, Bruce, Thu, 21 Jul 2011 12:59:37
                      • (some) Banks ARE the Government, Reality, Fri, 22 Jul 2011 07:22:30 <-- Viewing This Message
                      • Re: Government, BobS, Thu, 21 Jul 2011 15:59:36
                      • Re: Banks not government, EGD , Thu, 21 Jul 2011 15:08:44
                • Re: Are prices down to NORMAL? Maybe!!, James, Thu, 21 Jul 2011 08:05:39
    • Re: Trying again, Justin VanAbrahams , Wed, 20 Jul 2011 21:34:03
      • I'm kinda' pissed., John Myers, Wed, 20 Jul 2011 21:58:29
        • Actually Zillow raised $69 million not 1.6 billion. The, JTMav, Thu, 21 Jul 2011 05:41:39
          • Re: Actually Zillow raised $69 million not 1.6 billion. The, John Myers, Thu, 21 Jul 2011 07:56:13
        • Re: I'm kinda' pissed., Tim, Wed, 20 Jul 2011 22:34:44
          • Re: I'm kinda' pissed., John Myers, Thu, 21 Jul 2011 08:11:36
            • How much does a house like that rent nowadays?, Tim, Thu, 21 Jul 2011 09:06:03
              • Rents are running higher than mortgages., John Myers, Thu, 21 Jul 2011 09:47:51

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