Oh max kaiser this is the kaiser report the response has been overwhelming people are demanding for staceys pro way kaiser report and you know as we continue with the lockdowns and the bailouts because of the lot downs from the coronavirus couvade 19 pandemic situation sweeping the world fairness is what justice really is and that was a quote from Potter Stewart who was a Supreme Court justice member Sandra Day Oconnor took over for him afterward fairness is what justice really is so as we look at these bailouts and the lack of fairness that weve seen. Since the intervention of the fed days so say in 1907 when the plunge Protection Team and Alan Greenspan came to the rescue of the bad bets made on wall street chicago. And ever since and weve had more and more and more unfair system it starts off a little bit unfair and as we see like a little change of direction way back then in history becomes a huge gap we see that with the wealth and income gaps and we see that with every single cra
Then you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully then you get thrown out of the game basically but thats the way it is in the United States and. Having said that when you talk about banks being bailed out by the fed and you talk about all of the high yield bonds being owned by the major banks and they are being bailed out thats clearly unfair but the response cant be that we need to institute more laws because we already have laws theyre breaking the laws in the case of this s. P. V. With that high yielding e. T. F. J m k they broke the law so theres a fairness implies and justice said this and hes part of the judicial system of courts of law. If breaking the law is without penalty then it just doesnt make sense to introduce new laws in terms of the fairness ok these banks took on bad debts that mostly in the fracking sector and they were doing their part because remember Time Magazine said america the saudi arabia of america e
Got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and we acquire to make a down payment equal to 20 percent of the homes value but this is an interesting concept one of fairness as it relates to the economy and its not really baked into be american system is not designed to be fair because fair is what is fair for one person is unfair to another person and thats a highly subjective term what america relies on is free market capitalism it relies on competition and if you are successful competing and you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully you get. Thats thrown out of the game basically but thats the way it is in the United States and. Having said that when you talk about banks being bailed out by the fed and you talk about all of the high yield bonds being owned by the major banks and they are being bailed out thats clearly unfair but the respo
Wealthy and the connected so when weve already covered the trillions going to the banks instantly and the fact that the ordinary person is struggling to read well you know waiting desperately for the stimulus checks to arrive to them the measly little ones you know when the fed is buying these collateralized Loan Obligations you have to realize that 81 percent of them are owned just by j. P. Morgan Wells Fargo Bank of america and citibank just those 4 banks own 81 percent of it so those are the guys getting bailed out by the fed in the meantime u. S. Housing j. P. Morgan chase to raise mortgage borrowing standards as Economic Outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and will be acquired to make a down payment equal to 20 percent of the homes value but this is the mantra. Saying concept one of fairness as it relates to the economy and its not really baked into the american
Of it so those are the guys getting bailed out by the fed in the meantime u. S. Housing j. P. Morgan chase to raise mortgage borrowing standards as Economic Outlook darkens it just got harder to buy a house from tuesday this week customers applying for a new mortgage will need a credit score of at least 700. 00 and we acquire to make a down payment equal to 20 percent of the homes value but this is an interesting concept one of fairness as it relates to the economy and its not really a big day and to be american system is not designed to be fair because fair is what is fair for one person is unfair to another person and thats a highly subjective term what america relies on is free market capitalism it relies on competition and if you are successful competing then. And you succeed remember in america possession is 9 tenths of the law now if you dont compete successfully then you get thrown out of the game basically but thats the way it is in the United States and. Having said that when