Made in America

Updated: March, 2010

The financial madness that started on Wall Street is spreading around the world. Banks in Europe are teetering along with others in Japan, China and Italy.

All over the globe political leaders, bankers and prominent business people are beginning to blame the US for the spreading havoc.

Banks all over the world have been buying US mortgage bonds for years due to their higher-than-treasury bond dividends. Now these bonds, highly rated by American bond rating services, are nearly worthless and the institutions that hold them are sinking fast.

Who do they blame? They blame Greenspan, the former Chairman of the Fed for keeping interest rates too low for too long. They blame the Securities and Exchange Commission for not acting earlier. They blame the American bond rating services for giving now worthless bonds their highest premium ratings.

And lastly and mostly they blame President Bush for promoting his "ownership society" with it's goal of promoting home ownership for a wider slice of our population through an inane devotion to unregulated free markets.

President Sarkozy of France has recently pronounced the death of "raw capitalism". President-elect Obama has denounced "free-for-all capitalism". Now we move into an entirely new age - an age of increased regulation and monitoring of private financial dealings.

Thrive and prosper during the coming bad times. Get the facts - there's no other book like it. Order today!

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