I don't have time to suss out the Feds release of data

posted by The Vidiot @ 7:21 AM Permalink

Who really does. The most interesting thing about it though is that a lot of the money went to foreign banks. So, you know, WTF?!

Fortunately, Rivero over at whatreallyhappened.com came up with what seems to be a pretty good explanation for what all the data means.

This is what appears to be surfacing. As detailed in "Bankers Hone Wild", mortgages were cranked out by unscrupulous mortgage brokers, then resold into mortgage securities, which were in turn re-sold to investors as triple-A investments, even though the bundles included sub-prime mortgages already defaulting as US jobs were shipped overseas. Worse, we now know that individual mortgages were pledged as collateral to multiple security bundles, which is illegal! This is mentioned at 3:48 in the next video.


The criminal fraud even went further than that! In the case of Countrywide (now part of Bank of America) the actual titles were never really transferred, leaving the investment bundles entirely unsecured!

What appears to have happened is that the European banks realized that the American investment firms selling those mortgage-backed securities were engaging in fraud! Greenspan has admitted to such.



Obviously, the European banks are never going to sit still for fraud, even from Wall Street, even from the USA! No doubt the European banks demanded a refund on those fraudulent investment packages. No doubt the Wall Street mortgage fraudsters refused, suggesting that the bankers of Europe dump their losses on their populations just as the American banks were being forced to do. That some European banks did so explains why so many European nations are in financial trouble, with Iceland just one example. However, the larger European banks may have decided to "get tough" with the Americans, and this may explain the mysterious electronic run on the US financial system in February 2009, which almost crashed the US economy. Strangely, the American people were never informed who had initiated the financial transfers, even though obviously this information is recorded in the transactions on the computer systems.



This "attack" may have been a warning from the European main banks to the US to make good on the bad investments, or risk full public exposure for the mortgage backed securities fraud!

Soon after, we learned that the Federal Reserve was handing out trillions and trillions of dollars, loans which the American people are expected to repay, only the Federal Reserve refused to say who was getting the money, and even implied that exposure of the recipients of these trillions of dollars might pose a threat to the US economy. Now, nearly two years later, we find out that the Federal Reserve was buying back the mortgage-backed securities from European banks including Deutsche Bank and Credit Suiss.

In other words, the American people were looted to make good on the fraud perpetrated by Wall Street not only against American financial institutions, but bankers in the Eurozone as well.

The Wall Street Fraudsters should have gone to jail. But they walk free and clear, heading into a wonderful holiday with record-setting bonuses to spend while ordinary Americans have been made jobless, homeless, and hungry to keep the criminals out of prison.

The Mortgage Backed Securities fraud is the biggest fraud in the history of the United States, and as today's revelations make clear, we still do not know the full scale of the financial rape this nation has suffered.

Labels: Banking, federal reserve