Rocket Science and Mortgages

 
     
  Congress, banks, and the latest crisis, mortgages. Let me recap, quite a few someones lent money to buyers of houses. Those someones are bankers, the U.S. financiers. Those that know best, mind you, didn't let this current fiasco go unnoticed, they jumped in with both feet, knowing full well the impact it would have on our economy.  
     
  The source of my inquiry is our very own Federal Deposit Insurance Corporation (FDIC). Look for information on Bank Holding Company Detail. (Not an easy page to find, go figure.) http://www.fdic.gov/
     
  The topmost entry is BANK OF AMERICA CORPORATION (BoA):
BoA Combined Total Assets ($000) for 06/30/2007 is 1,439,598,514.
Now enter the date, the morgage scam started: 06/30/2002
BoA Combined Total Assets ($000) for 06/30/2002 is 600,849,831.
Bank of America 2002 Snapshot
Bank of America 2007 Snapshot
     
  The scam is not hidden. This is public information, brought to us by our very own U.S. Government. On June 30, 2002, BoA had assets of 600,849,831,000. That's 600 billion U.S. dollars. On June 30, 2007, BoA had increased their assets to 1,439,598,514, that's 1,439 trillion dollars. Any guess as to how BoA more than doubled their assets: $838,748,683,000? JP Morgan 2002 Snapshot
JP Morgan 2007 Snapshot
     
  This scam is directed against us, the U.S. citizen. Who will pay for it? We will, the U.S. citizen. Who should be damned? Congress.  
     
  Since Congress, that's our hired officials, continually lets big oil rip us off, and lets the big 3 automobile scum steal us blind, why not the financiers. Oh look! they did.  
     
  To find the source of these snapshots, copy and paste into your browser:
"http://www2.fdic.gov/idasp/report_bhc.asp?inSortIndex=0&inCert1=1073757&period1=06/30/2007"