This hub is a great how-to hub that will guide you into an understanding of world finance, the financial meltdown and why and how the actions of Wall Street are hurting main street. It is important that you understand that the financial system has been playing loose and fast with your money, with credit towards you, with the balance sheet of the United States and other countries, and with the future of credit and of world stability. The ultimate problem in the United States is that while the Chinese and others actually make things, we sell each other real estate and insurance and manipulate markets. That is a recipe for a long, long downturn in our economy.

Even if we get out of this crisis in a reasonable amount of time, like say, five years, this hub will be helpful because these people establish ongoing information that will show up on these links. It is for that continuing information and education that I suggest that you bookmark this hub right away. I guarantee you that if you study these hubs you will better understand the root causes and possible consequences of the course our leaders and the banking class have put on our plates.

While it is now unlikely to happen, I am for a temporary nationalization of the too-big-to-fail-banks that actually makes corporate bondholders take a haircut of their assets so that it does not all fall upon the taxpayers. That is what is happening with GM so why can't it happen with the banks? It is because that would cause a violent reaction from the hedge funds and Larry Summers is a hedge fund guy, receiving 5 million dollars from one in 2008! Update: the banks will be zombie banks, not lending but likely not being nationalized in any real way either.

 I agree with Meredith Whitney that the bad bank idea (Tim Geithner's PPIP) is a really bad idea. You can see her video and Nouriel Roubini's video about these issues. The bad bank idea is now called the Public Private Partnership (PPIP) which puts the taxpayers at risk if these toxic assets continue to decline in value while those who buy the assets will have little risk. Even James Baker, who I disagree with regarding Iraq and oil greed, agrees that these banks should have bondholder haircuts. But the hedge funds and the banks are in control of the developed world governments.

There is one thing you can be sure of by studying these hub blogs below, and that is the deleveraging of the financial system is inevitable. And it is inevitable because massive leveraging caused by off balance sheet banking was planned by the powers that be. It is an issue of sovereignty and whether government did enough to protect the people. I say government protected those who took massive and reckless risk instead and are still protecting them. That is the New World Order that Gordon Brown, Prime Minister of Britain was talking about, an order that pits international banks against the consumer, rather than Democrat against Republican.