Are banks and regulators forcing us into a depression

[DogPoundPup]

Pushing solvent builders into trouble.....

Published: Sunday, December 21, 2008 at 1:00 a.m.
Last Modified: Sunday, December 21, 2008 at 12:07 a.m.

Southwest Florida builders, already reeling from a collapse of the housing market, have a new worry. Banks are calling in loans, eliminating lines of credit and raising interest rates.

They're not only doing it to builders clearly going out of business or to loans that are in arrears. They're also doing it to builders who are making payments on time and trying to do the right thing even if the value of property under construction has declined.

Take the case of Earl Snyder, Snyder Construction Co., Englewood. His credit score is 848, he's never been late on his payments, yet in late October, his bank gave him 60 days to repay a $2.5 million loan.

"I've been to 15 lenders; no one will lend me a dime," Snyder said Friday, sitting on a grader at a construction site, supervising a crew of six. "This is scary. I'm scared for everyone else."\http://www.heraldtribune.com/article/20081221/COLUMNIST/812210334

[Turbineguy]

1. In a word....

Yes.

[bdamomma]

2. them vs us

[KansDem]

3. Why?

I'll ask the obvious question even though it may reveal naivete on my part...

[scheming daemons]

4. My question as well. What do they have to gain from it?

How could it possibly be good for banks to force us into a Great Depression?

[Greyhound]

12. Once the bottom nears, those who have been sitting on cash, or have a license to create it,

can buy real assets at virtually no cost. "When nobody has any money, the guy with $1000 can buy a house".

[KansDem]

20. Now that makes sense!

"When nobody has any money, the guy with $1000 can buy a house".

Thanks. I guess I'm too naive to think that no one would purposely perpetuate an economic disaster for personal monetary gain...

[Warpy]

5. What's forcing us into a depression are DEPRESSED WAGES

because banks and businesses wouldn't be in trouble were consumers able to uphold their end of the bargain by shopping until they drop and then paying the bills on time!

Anybody who misses that part doesn't have the right to voice an opinion in print.

[zbdent]

6. they have all the money, and the capability to move it easily ...

"Whoops, where did it go?"

Meanwhile, a bank in the Cayman Islands gets a large transfer into certain numbered accounts ...

[4 t 4]

7. Really what is it ? are the banks

so in debt because they owe so much to those greedy bastards that traded the credit default swaps or are they now just stealing from people, what gives I don't get anymore at all.

[lib2DaBone]

8. It can only change when American People stand up and say.."ENOUGH"!

[depakid]

9. South Florida

'nuff said....

[sarcasmo]

10. Banks were told to loan money when they got the bail out., looks like the swindle continues

If this continues to happen, it's going to be deeper than the last depression. On edit: the last story in the article is Bank of America again, the same idiots involved in the Chicago sit in.

[Joe the Liberal]

11. Read my sig......

it goes well with your thread....

[Greyhound]

13. "Permit me to issue and control the money of a nation, and I care not who makes its laws."

Mayer Amschel Rothschild 1790

[Joe the Liberal]

14. Indeed........

that is a very good quote, I think I'll add it to my Sig as well if I have enough room.

[insanity]

15. They are sure as hell trying.

[Greyhound]

16. Forget the "regulators" they work for the banksters. This is the cycle and

all is working just as it is supposed to.

[Waiting For Everyman]

17. Ya think? Maybe some new laws should stop them. And fast.

The debt machine in this country is out of control.

* Ah, here we go - here's Earl's problem...

"The really sad part of Snyder's tale is that he builds work-force housing, which is still selling. His 2,000-square-foot homes go for $129,000, lot included. From a public policy standpoint, he provides what the decision-makers in government all claim they want."

[natrat]

18. yea it's a trip how all the baks are in on it-very creepy this shadow government

[Kansas Wyatt]

19. In this New World Order of Globalism....

American employees are over-paid, so they have to let the bottom drop. Once we bottom out, then those with the money can get everything at bottom dollar and invest in rebuilding a New Empire, where they will be treated and rewarded like royalty.

Just another (the same) racket the Wealthy Elite have always ran and enriched themselves with. But now, it's gone fully global. Ever hear of the 'Company Store?' Well, now you have the 'Corporate Government Store,' which is the 'Company Store' merged with the government and on steroids.

[kentuck]

21. But why??

Perhaps the government will have to establish our own bank to compete with these leeches. In the meantime, we will them to high heaven until we get back our $350 billion that they stole from us under false pretenses.