CrusaderFrank
Diamond Member
- May 20, 2009
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Wall Street passes out mortgages to anyone with a signature.
Wall Street bundles the mortgagees into "securities".
Wall Street sells the mortgages to people overseas.
Wall Street insures the "securities.
The "securities" tank.
The investors from overseas lose their money.
The people with the mortgages lose their houses.
The insurance companies pay Wall Street and go bankrupt.
Wall Street gets rich.
All perfectly legal in the "deregulated" Wall Street. Hey, they have to be allowed to "make money".
Why this isn't "stealing"? Because it's "legal". I guess that makes me a dope. Because to me, it looks EXACTLY like "stealing".
Fannie and Freddie started accepting no verification mortgages! They started it!
Banks underwrite becuase they had a stupid fuck as a buyer!
Again, repeal 16th Amendment, the only personal income Rdean needs to be concerned about is his own
NO, THEY DID NOT. and they STILL DO NOT.
Sigh.
What's the use?