On Friday 13 2009 the University of Delaware Daily posted an article

Creating new economies focus of UD conference
Creating new economies  may sound like it is to mean creating new jobs.  Yet there is more to this then just New Jobs,
that should have Americans a little concerned.

According to Tom Carper. “About a year ago we just finished doubling the nation's debt in eight years, GM and Chrysler
were bleeding red, and the bottom fell out of the economy,” ...Mr Carper also stated; “We got used to living beyond our
means, and there were new mortgage products that were given to people who would never be able to pay for them.”

What caused the problems th United State of America is witnessing today?

I will show you how Mr Carper has just admitedd he and other members in congress are to blame for well
Structured Disaster of our Nations ability to be independent.

Since 1933 each congress has been involved in creating a bigger government. And just as recently as 2000  huge
government sppending charity work without paying back what the government borrowed from foreign countries like
China., The FED will be forced to raise interest rates very soon. Possibly as soon as May of Next Year you will be
seeing APR on Interest rates as high as 60%.

This will be needed to recapture all the money that is flowing out in the economy before Super Hyper Inflation hits.. Oh,
Can you say; Paul Volcker? This has his  hand writing all over it. All needs to be done to prove this is to look back to
1979 when we had the same situtation and Mr Volcker decided to Raise Interest Rates then too. Causing the Even Odd
Day Gas days high unemployment levels.  Even in the early 1960s, he was doing the same thing back then as well.

In 2001  the US Congress passed theTax Relief Reconciliation Act of 2001 (Taxpayers receieved that 300.00- $600.00
retro active tax check)  107th US Congress
US Senate Votes   US House Votes decided to pass on to the tax payer.

Spending and not saving to get out of an economic slump didn't work then either! and it was proven Twice. the first in
2001  and again in 2003 This was not the start of it though.
Gramm-Leach-Bliley Act (GLBA), AKA the Financial Services Modernization Act of 1999, (Pub L. 106-102, 113
Stat. 1338, enacted November 12, 1999)

The 106th United States Congress repealed part of the
Glass-Steagall Act of 1933, opening up a padora's box in the  
market. Banking companies, Securities companies insurance companies as well were given a carte Blanch with fewer
regulation on Anti Trust Laws that protect America from what happened When? The Great Depression. When? 1930s
when the Glass Stegall Act was passed.. The Glass-Steagall Act  was  protection from any one institution being able to
act as any combination of an investment bank a commercial bank, and/or an insurance company.
We have to pass the TARP because they are "TOO BIG TO FAIL"- DOES THAT RING A BELL?
Not only the Gramm-Leach-Bliley Act alone, allowed commercial banks, investment banks, securities firms and
insurance companies to consolidate And this was one stage of dismantling the Anti Trust Laws that welcomed in Social
fascist formats of business in the free market and began the lock step of government being required take control of the
Banking industry.
Back in 1982 during the Reagan Years, Congress passed the Alternative Mortgage Transactions Parity Act (AMTPA),
allowed non-federally chartered housing creditors to write adjustable-rate mortgages. Among the new mortgage loan
types created and gaining in popularity in the early 1980s were adjustable-rate, option adjustable-rate, balloon-
payment and interest-only mortgages. These new loan types are credited with replacing the long standing practice of
banks making conventional fixed-rate, amortizing mortgages. Among the criticisms of banking industry deregulation that
contributed to the
savings and loan crisis was that Congress failed to enact regulations that would have prevented
exploitations by these loan types.

In 1995, Fannie Mae began receiving government tax incentives for purchasing mortgage backed securities which
included loans to low income borrowers. Thus began the involvement of the Fannie Mae and Freddie Mac with the
subprime market. In 1996, HUD set a goal for Fannie Mae and Freddie Mac that at least 42% of the mortgages they
purchase be issued to borrowers whose household income was below the median in their area. This target was
increased to 50% in 2000 and 52% in 2005.

Who was in office in 1999? for Delaware? None other then Joe Biden, Tom Carper and Michael Castle.
Although I will give credit where credit is due. Mr Carper did vote against the Tax Relief Reconciliation Act of 2001.
The problems are equally to be blamed by both sides of the Politcal spectrum for what we face.
The Republican party as with the Democrat Party have passed measures in Congress that were not required. And were
in fact causing more problems to be added to the exisiting problem they were attempting to rectify.

A view from the U.S. Senate

In his keynote remarks on recession and recovery, U.S. Senator Thomas R. Carper (D-Del.) said he wanted to address
“how we got into this mess

Carper acknowledged the importance of the University of Delaware in contributing to economic recovery and the
creation of sustainable well paying jobs in the future.

“The University of Delaware is going to be a big part in leading our economic engine to help pull us through,” Carper
said. “It's a role that the University has played in times in the past, and more than ever, it is a role we need the
University to play today.”

Below is the first part of a book I am writing

Creating new Economics is just another word for Socialized Business programs
By Earl R. Lofland