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View Diary: Fed Audit: $16T in secret loans (228 comments)

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  •  enrich their own portfolios (3+ / 0-)
    Recommended by:
    Pescadero Bill, polecat, neroden

    Is this anything like insider trading? Is there a chance we may find that there were in fact crimes committed? Not that anyone should reasonably expect any justice if there were, not here in bizarro world where the rule of law is meaningless if you've got enough cash.

    Ds see human suffering and wonder what they can do to relieve it. Rs see human suffering and wonder how they can profit from it.

    by JTinDC on Thu Jul 21, 2011 at 05:46:58 PM PDT

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    •  Well, banks had been relying on MERS for mortgage (4+ / 0-)
      Recommended by:
      JTinDC, MKSinSA, jayden, neroden

      foreclosures and evictions up until a relatively recent court ruling indicating possession of the original contracts was required.  

      The banks operate hedge funds to 'offset' investments in risky loans.   Essentially these hedge funds, part of our 'too big to fail' financial ecosystem, bet large against average Americans being able to retain their jobs, pay mortgages and consumer loans, etc.  And they also are investing big in trying supplant public schools with 'voucher' private schools.  And ALEC model legislation supports this.

      When life gives you wingnuts, make wingnut butter!

      by antirove on Thu Jul 21, 2011 at 06:49:36 PM PDT

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