The $516 trillion dollar derivative Ponzi scheme Wall Street ran

Wall Street is in bed with the federal government. That's why nobody went to jail and that's why they got bailed out with our money. Don't forget when pointing the finger at Wall Street that both Republicans and Democrats in Congress were complicit in what happened.
 
Wall Street is in bed with the federal government. That's why nobody went to jail and that's why they got bailed out with our money. Don't forget when pointing the finger at Wall Street that both Republicans and Democrats in Congress were complicit in what happened.
Where are the investigations?
What laws were broken?
Which lawmakers were involved corruptly?
When is the Justice Dept going to file charges?
Why is there not a special prosecutor investigating this practice?

I think the answer is that since the fox is watching the hen house, nobody's going to do any of these things. Until the fox is done away with, and someone DOES get the chop, and not just some scapegoat... it's business as usual in Washington and Wall Street.

If crimes were committed, where is Justice? No one should be above the law.
 
Tell me.. do you interpret this statement as I do?
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


So where are the risks in any Fannie/Freddie securitized mortgage packages?
If the U.S. government guarantees the mortgages where are the risks?
 
Wall Street destroyed the economy with a $516 trillion dollar derivative Ponzi scheme.

You can read about it at this link...

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

Thank God someone is protesting about this, because it destroyed the world economy, and NO ONE WENT TO JAIL BECAUSE OF IT, AND THE MAIN STREAM MEDIA NEVER MENTIONS IT.
Freddie and Fannie were the main cause of the housing market crash, which was supported by monicas little bitch boy clinton.
 
Wall Street destroyed the economy with a $516 trillion dollar derivative Ponzi scheme.

You can read about it at this link...

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

Thank God someone is protesting about this, because it destroyed the world economy, and NO ONE WENT TO JAIL BECAUSE OF IT, AND THE MAIN STREAM MEDIA NEVER MENTIONS IT.
Freddie and Fannie were the main cause of the housing market crash, which was supported by monicas little bitch boy clinton.

The problem was far bigger than just a housing crash. We could have ridden that out quite easily.
 
Wall Street destroyed the economy with a $516 trillion dollar derivative Ponzi scheme.

You can read about it at this link...

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

Thank God someone is protesting about this, because it destroyed the world economy, and NO ONE WENT TO JAIL BECAUSE OF IT, AND THE MAIN STREAM MEDIA NEVER MENTIONS IT.
Freddie and Fannie were the main cause of the housing market crash, which was supported by monicas little bitch boy clinton.

Bush didn't do anything about it either. In fact he was out there touting the record home ownership among the poor and minority classes.
 
The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world's output: it's been called the "ticking time-bomb".

It's a market in which the lead protagonists – typically aggressive, highly educated, and now wealthy young men – have flourished in the derivatives boom. But it's a market that is set to come to a crashing halt – the Great Unwind has begun.

Last week the beginning of the end started for many hedge funds with the combination of diving market values and worried investors pulling out their cash for safer climes.

Some of the world's biggest hedge funds – SAC Capital, Lone Pine and Tiger Global – all revealed they were sitting on double-digit losses this year. September's falls wiped out any profits made in the rest of the year. Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100,000 each. Not bad for the average punter but some way off the tens of millions plundered by these hotshots during the good times. But few will be shedding any tears.

The complex and opaque derivatives markets in which these hedge funds played has been dubbed the world's biggest black hole because they operate outside of the grasp of governments, tax inspectors and regulators. They operate in a parallel, shadow world to the rest of the banking system. They are private contracts between two companies or institutions which can't be controlled or properly assessed. In themselves derivative contracts are not dangerous, but if one of them should go wrong – the bad 2 per cent as it's been called – then it is the domino effect which could be so enormous and scary.

Most markets have something behind them. Central banks require reserves – something that backs up the transaction. But derivatives don't have anything – because they are not real money, but paper money. It is also impossible to establish their worth – the $516 trillion number is actually only a notional one. In the mid-Nineties, Nick Leeson lost Barings £1.3bn trading in derivatives, and the bank went bust. In 1998 hedge fund LTCM's $5bn loss nearly brought down the entire system. In fragile times like this, another LTCM could have catastrophic results.

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent
 
Tell me.. do you interpret this statement as I do?
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


So where are the risks in any Fannie/Freddie securitized mortgage packages?
If the U.S. government guarantees the mortgages where are the risks?

Thats' exactly where it all started, and exactly why there will be no prosecution. Fannie and Freddie selling bad mortgages. While it may be noble to get more folks into home ownership, doing it the wrong way causes the shitstorm we're in now. Wonder how much the pols made off of that over the years? THAT is where the problem is, wall street is just a supporting actor.

Also, the next thing the Occupiers will call for is Gov't intervention. Just watch.
 
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Wall Street destroyed the economy with a $516 trillion dollar derivative Ponzi scheme.

You can read about it at this link...

A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

Thank God someone is protesting about this, because it destroyed the world economy, and NO ONE WENT TO JAIL BECAUSE OF IT, AND THE MAIN STREAM MEDIA NEVER MENTIONS IT.
Freddie and Fannie were the main cause of the housing market crash, which was supported by monicas little bitch boy clinton.

No..they were not.
 
Tell me.. do you interpret this statement as I do?
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


So where are the risks in any Fannie/Freddie securitized mortgage packages?
If the U.S. government guarantees the mortgages where are the risks?

Thats' exactly where it all started, and exactly why there will be no prosecution. Fannie and Freddie selling bad mortgages. While it may be noble to get more folks into home ownership, doing it the wrong way causes the shitstorm we're in now. Wonder how much the pols made off of that over the years? THAT is where the problem is, wall street is just a supporting actor.

Also, the next thing the Occupiers will call for is Gov't intervention. Just watch.

Bullshit.

Men like Daniel Sedak were selling "bad" mortgages. And they were doing it for Financial firms like Goldman Sachs. Who were pushing volume so they could package them into securities and take out insurance against their failure from an outfit like AIG.

Quick Loan Funding And Daniel Sadek Emerge As “Pirate Swashbucklers” Of Subprime Mortgage Reign Of Deceptive Mortgage Lending; CitiGroup Provided Much Of The Support For His Pillaging « MORTGAGE PIRATES

It's amazing this crap is so misunderstood.
 
Tell me.. do you interpret this statement as I do?
Oct. 23,2008 (Bloomberg) --
Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
"full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


So where are the risks in any Fannie/Freddie securitized mortgage packages?
If the U.S. government guarantees the mortgages where are the risks?

Thats' exactly where it all started, and exactly why there will be no prosecution. Fannie and Freddie selling bad mortgages. While it may be noble to get more folks into home ownership, doing it the wrong way causes the shitstorm we're in now. Wonder how much the pols made off of that over the years? THAT is where the problem is, wall street is just a supporting actor.

Also, the next thing the Occupiers will call for is Gov't intervention. Just watch.

Bullshit.

Men like Daniel Sedak were selling "bad" mortgages. And they were doing it for Financial firms like Goldman Sachs. Who were pushing volume so they could package them into securities and take out insurance against their failure from an outfit like AIG.

Quick Loan Funding And Daniel Sadek Emerge As “Pirate Swashbucklers” Of Subprime Mortgage Reign Of Deceptive Mortgage Lending; CitiGroup Provided Much Of The Support For His Pillaging « MORTGAGE PIRATES

It's amazing this crap is so misunderstood.

Just as you say that no innovation happens without the Gov't behind it, no financials are legally traded without gov't regulations allowing them. The guys on walllstreet just saw a way to make a fuck ton of money in the current system and did so. Greedy yes, legal, some yes some no. But pointing the finger at only wallstreet is what is bullshit.
 

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