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Great American Bank Robbery Unauthorized

It’s now official: According to the Federal Reserve, the financial crisis wiped out $14 trillion in American household wealth–an amount equivalent to more than $120,000 per household. Yet Americans didn’t lose it–it was taken.

By whom? President Obama blames “fat cat bankers”–and polls show that 80% of Americans agree with him. But in The Great American Bank Robbery, award-winning journalist Paul Sperry offers a welcome rebuttal to this untrue narrative, presenting fresh proof that government social engineers masterminded a massive bank heist with help from accomplices in the “affordable housing” sector. And now they’re back in Washington planning another heist with Obama.

In a elaborated narrative illustrated by charts and graphs, and supported by over 50 pages of footnotes, Sperry discloses how the shakedown artists colluded at each step of the way–from Chicago to Washington–to give rise to the banking regulatings and housing policies that socialized mortgages, gutted established underwriting standards, and led to the worst financial calamity since the 1930s. Sperry also reveals how the 9/11-type commission impaneled to investigate the subprime crime set up Wall Street bankers to take the fall for Washington politicians and their cronies. This book is the report they ought to have devised but didn’t, and the truth they don’t want you to know. Highlights:

• President Obama’s own fingerprints are on the subprime scandal, and you’ll meet his bank-hating Chicago consultant whose radical “anti-redlining” group not only has unfettered White House access but has had a hand in shaping Obama’s financial regulations.
• Several Clinton-era architects of the disastrous housing policies that caused the crisis have returned to the scene of their financial crime; they’re back at HUD and other federal agencies, now making Obama housing policy and making the same reckless mistakes.
• The Obama administration is pressuring mortgage loan officers to consider as valid origins of income jobless benefits, welfare checks or feed stamps–repeating the cycle of lower underwriting standards that led to the housing crisis.

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Most helpful client reviews

23 of 23 humans found the following review helpful.
Very crucial and logical
By Sanford Aranoff
I listened to Sperry being interviewed on the radio, and am exceedingly impressed. Everyone will have to read this essential book and act to fight our national stupidity. In my university math classes talking about mortgages, I tell the students that mortgage rates are based upon statistical experience how galore people of sure income levels will default. The bank ought to earn sufficient from the interest not only to cover administrative costs, but likewise the defaults. I tell my students they are to perceive the logic and not be stupid in life. I wrote Sperry’s ideas in my book Rational Thinking, Government Policies, Science, and Living, based upon simple logic. Sperry, of course, makes a far more powerful case with 300 pages and 50 pages of notes, along with names of persons responsible for stealing hundreds of dollars from the value of American homeowners. We all must read this book and then act! We must be afraid, be very afraid, of our government leaders, of course, but we must have facts to permit us to distinctly challenge our wise leaders. This book will give us these facts!

8 of 8 persons found the following review helpful.
MSM lies by omission also
By terry
While reading this no nonsensicality report regarding why democracies fail, I recognized how fascist our little experiment has become. The conception GSE is denotatively fascist, but we receive it as reasonable. Thus, Fannie and Freddie still exist, even after the debacle they significantly caused. Employing HUD and the CRA, Clinton and Bush manipulated the credit markets for mortgages beyond anything antecedently imagined by American Exceptionalists. With a de facto “reparations” program called sub prime loans, they greased the slide to the great recession, which is now, in ordinary myth, only a result of Wall Street (whatever that means) greed.

This book gives you a fresh reason to hate and mistrust the ordinary press. If it won’t tell us the full story regarding this scandal, regarding what is it spinning today? Implied government guarantees, in a housing bubble “without end”, of loans which the originator could effortlessly pass off to the dandier fool, is worthy of more scrutiny. There has always been greed, what changed to facilitate this “crash”?

Sperry documents exhaustively each of his suppositions. It is a sad story, yet without an end. The Chicago Acorn is doing it to us in continuum. The next move is “socially responsible” little business loans, and then college loans. There are vague but expanding quotas that in the words of Robert Higgs, a great economist, invent “regime uncertainty”; a term employed to explain the dearth of selfconfidence and investment in our present economic state. Sub prime mortgages are the microcosmic government intervention which gives aid to his thesis. If banks (and now others, eg., insurance companies) are told to whom to lend by political bosses for constituent reasons, there are no rules, just uncertainties. Is each type of “property” now percentage of the commons at the whim of the next delusional utopian?

1 of 1 humans found the following review helpful.
Scariest Book This Year!!
By 3Case
NOTHING has changed. The same people/thought that put us in the financial ditch are still there. The roots of the meltdown and how not one thing has changed are distinctly laid out in this book in scary detail after scary detail.

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