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View Diary: William K. Black to FDIC/Obama: Stop the Friggin Fraud (178 comments)

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  •  It does not make sense but that is what the banks (2+ / 0-)
    Recommended by:
    Badabing, nippersdad

    are doing.  They cannot modify the loans because they don't have the documentation.  They thought they could defraud the courts and push these through so that the investors wouldn't get wise and push the bonds back on them.  If they pushed the bonds back, the banks would have to come up with money they don't have.  That is what this whole thing boils down to.

    "When fascism comes to America, it'll be wrapped in a flag and carrying a cross." Sinclair Lewis

    by lakehillsliberal on Fri Oct 22, 2010 at 04:27:06 PM PDT

    [ Parent ]

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