What Happened to the American Dream: 
How the banks destroyed America

People have failed to accurately describe what happened since the repeal of the Glass/Steagall Act. It created Credit Default Swap Bonds. They are a fictional financial concept of selling "insurance" to wealthy investors to pay them $30 for every dollar that the investor "insurance" that the investor buys. It is fictional because they were modeled after municipal bonds which paid off ONLY IF THE CITY WENT INTO BANKRUPTCY. When these bonds we're conceived, the idea of a city going bankrupt was inconceivable. The taking down of the wall between savings and investment banking created the situation where ten million mortgages were used to create "mortgage backed" securities (stocks). What no one want you to know is that ALL these mortgages went to 13% after two years, and everybody, every institution, every mortgage officer, every bank KNEW that they were all (so far, 95%) into foreclosure. Millions lost billions invested in the stocks backed by these fraudulent mortgages. BUT.....Credit Default Swap Bond holders have been paid out over 45 TRILLION DOLLARS!! The only way to understand this is if you ca see what this theft was equal to. It is equal to the destruction of our nation from a foreign invasion that stole all of the money in all of our banks. To add to this destruction, the banks got the Federal Reserve to use 85 billion/month to buy these losses from the banks. Those "purchases" of bad investments has been called a "STIMULUS" to the economy, and every financial reporter in the nation has reported that NONE of that money has reached American businesses. Al Lewis, in the Wall Street Journal wrote that these trillions will be used for large leveraged buy outs over the next 18 months, for a consolidation of corporation control of America. We lost the American Dream to thieves, liars, and corporate pirates. It is time that someone told us the truth--our nation is not owned by Americans anymore. We are a mere moribund relic which will have a 45% poverty rate by 2020.