WEBVTT

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The following is an opinion piece. Good evening

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everyone, and welcome to another fun -filled

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edition of I Call Bullshit. We all remember my

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rant about Epstein and the client list. Like

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I stated before and will again, that dog and

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pony show will only go so far. Like I said before,

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no convictions. Power protects power, and I can

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explain this a little more in depth. Each side,

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as in Dems and Repubs, want to show the voters

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how the other side steals the splined. They will

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point out all the problems, but when it comes

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to accountability, you can forget that. They,

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as in the elite, all have a gentleman agreement

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that for the purposes of getting votes, you can

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expose all the theft you want, but there will

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never be any prosecution. This political game

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was shown out. Forced all to see during Jimmy

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Carter's funeral. He had President Trump sit

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next to former President Bill Clinton. For mortal

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enemies, they sure had a bunch of laughs. These

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two looked like they were besties their whole

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lives. Now, let's fast forward to now. There

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has not been one conviction in regards to Epstein

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Island, and there will never be. Now let's go

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here to the local Kansas City district. COVID

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funds were handed out with money printed off

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just for discretionary purposes. Now, children,

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discretionary funds is code for money that can

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be stolen easily without being tracked. And all

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of the government knows this. So now, let's see.

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A big investigation at a non -profit's grabbing

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all the COVID till? My prediction, not only will

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the taxpayers never get the funds recouped, but

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there will never be any type of convictions.

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for that theft as well. Ladies and gentlemen,

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I hope I didn't ruin your TikTok buzz, but while

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you're sitting there watching reruns of people

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getting kicked in the ass on YouTube, they're

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ripping us taxpayers off blind, we're getting

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fleeced, and nobody seems to even fucking notice.

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Now, let's take a jot down memory lane and look

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at when the housing bubble of 2008. The banks

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and large insurers were able to put up homes

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once again with free money, knowing damn well

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that the person they just moved in that house

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could never have afforded it in the first place.

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The banks purposely sold homes. Low interest

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rates following the dot -com crash and the 9

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-11 attacks, the Federal Reserve lowered interest

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rates significantly, down to 1 % in 2003, to

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encourage spending. That may borrow money to

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buy a house very cheap. The rise of subprime

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mortgages to keep the housing machine running,

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lenders began offering loans to subprime borrowers.

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People with low credit scores or unstable incomes

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who previously wouldn't have qualified for a

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mortgage. Many loans required little to no down

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payment. Exotic loans like adjustable rate mortgages

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offered very low initial teaser rates that would

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skyrocket after a few years. As prices rose,

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people began buying houses not to live in, but

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to flip for a quick profit, further inflating

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the bubble. The crisis wasn't just about bad

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house loans. It was about how those loans were

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sold to investors worldwide. Banks bundled thousands

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of individual mortgages into single package and

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sold them to investors as a bond. Credit rating

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agencies like Moody's and S &P gave many of these

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risky bundles. AAA ratings, the highest possible

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suggesting they were as safe as government bonds.

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These packages were sliced and diced and collateralized

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debt obligations and sold to pension funds, insurance

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companies, and banks globally. When the mortgages

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failed, the entire global financial system was

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exposed. Happened 2006 to 2008, the bubble began

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to leak in 2006 and officially burst by 2008.

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Builders had built Tumay homes and the market

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became saturated. The Fed began raising rates

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to curb inflation, causing those teaser Morgan

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rates to reset to much higher monthly payments.

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Borrowers could no longer afford their payments

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because their home prices were falling and they

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couldn't sell the house for enough to pay back

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the loan. So they were upside down or underwater.

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As millions defaulted to the value of mortgage

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-backed securities crashed, banks that held these

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toxic assets began to fail. In 2008, the investment

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bank Lehman Brothers went bankrupt, causing a

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global panic. The credit crunch followed where

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banks stopped lending to each other and to businesses

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because they're afraid of hidden toxic debt.

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Nearly 9 million Americans lost their jobs and

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roughly 10 million lost their homes to foreclosure.

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The U .S. government passed a TARP, Trouble Asset

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Relief Program, to bail out major banks and prevent

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a total systemic collapse. Laws like the Dodd

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-Frank Act were passed to ensure banks held more

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cash in reserve and to limit the kind of risky

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lending that caused the crash. But the laws are

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weak and being tampered with again, so look for

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more fun and games coming our way. Sorry for

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the big bag of truth we just threw on your lap,

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but that's what we do here at I Call Bullshit.