Thursday, November 08, 2007

Where did the first SubPrime loan originate? President Bush!

That's right, when President Bush was an Oilman and was driving his Oil Company into bankruptcy, he was bailed out with the first Sub Prime loan. The banker? The Saudi Royal family who never expected to really get the loan paid back, but wanted the Bush family to "owe them", which they collected on handsomely. Back then Oil was only $19 barrel or cheaper. Saudi Arabia was and is the largest Oil producer in the world with their vast reserves. So think about this a moment, they have something worth $19/barrell safe in the ground. The have maybe several Trillion barrels. They see then VP Bush, George W's father, going to become President after President Reagan leaves office. They see the Soviet Union disintegrating. And they make a very small bet on the Bush family.

This President, George Walker Bush, went bankrupt, bankrupt our country, started a war and overthrew Saddam Hussein, caused more turmoil in the Middle East and has rattled the saber against Iran, coincidently Saudi's enemy, but has repaid his debt to his "Godfather!"

Oil now is just pennies away from $100/barrel.

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