Alright 2 More
The second speaks volumes about a fraud. At first read it seems like the scam was taking advantage of some poof dumbfuck savages for every buck they had. Really it was a massive fraud against the American people. One that's so subtle, few people are going to put 2 & 2 together. The mortgage houses all gave out free money like candy and then immediately pooled all those bad loans into mortgage backed securities, slapped them with a Ginnie Mae guarantee that the government will make good on bad mortgages and sold them to everyone who needed to park the money they pulled out of the stock market before the last bear woke up. It's not just some poor wetbacks that are getting scammed for everything they have, it's any poor dumbfuck who pays taxes too.
In the end letting the Fed run the central bank for the benefit of bankers hasn't done you or me any favors. The upside to all this is that the money we're going to use to pay back the good faith and credit of these loans with is going to come back to us cheaply. I love that last linky. The Boston Globe is telling us that Stagflation is coming so we should save our cash. If Stagflation is coming we're far better off maxing out our credit cards now and buying gold or forclosure homes or maybe even go portfolio heavy into canned goods and shotguns.