The greatest theft in American history

There are many of us who feel offended by the bank bail-outs and the bonuses paid with the bail-out money. But there is nothing that perverts America more than its government's housing policies. Take away Fannie, Freddie, Ginnie and the FHA, and you bankrupt the entire financial system with the stroke of a pen. The entire far too highly leveraged structure of loans, securities and derivatives in the end is based on the US housing market. That's why Obama and his people do what they do. Losing a million jobs a month is much less important than average home prices falling by $10,000 in that same month.

It's a lost battle, and they know it. But that means that they have nothing more to lose either, and they might as well transfer all the losses to you that they can get away with.