By: Knowledgeable

Knowledgeable — Wed, 13 Apr 2016 17:12:23 +0000

In my opinion, based on the data I have to hand and being in the mortgage industry, Stated Income loans had qualifications based on the borrowers’ ability to make payments at 1% to 1.5% interest. This is what caused the spike in housing development and a lot of Democratic supporters who were developers got rich during the ensuing real estate bubble. This bubble was created with a point of collapse built into it; on purpose!
After 4 years, the Note interest rate changed to the market rates which were about 6% to 7% over night. Those home owners woke up that morning and discovered their payments had jumped up about $1,000 per month! They abandoned their new homes in droves! That’s what created the massive foreclosures in California that started the crash in 2008. The government created this; Barney Frank, Maxine Waters et al.
AIG Insurance company insured those Mortgage Backed Securities against loss but failed to do that when the losses become so high.
Goldman Sax and other Brokerage houses had sold millions of these MBS to banks and institutions all over the world because they were insured and therefore had an inflated false rating and they became worthless over night, spread out over as many years as these loans were offered. Thus the worldwide economic crash.
John Paulsen, Treasurer and Goldman Sax Exec, scared the hell out of Congress and got them to bail out AIG and the large banks and Goldman Sax investors that cost the tax payers Billions.
The icing on the cake is that John Paulsen is rumored to have shorted the MBS market, betting on the crash, knowing a crash would happen because of the way the Notes were written, and pocketed some $15 billion. Golden Sax and many other insider investors may have done the same thing.
I think there are a lot more targets available to go after to clean this all up but the only thing is, none of it fixes the loss of homes by millions of homeowners who didn’t have Stated Income loans, were up to date on their payments and lost their jobs and homes because of the created massive economic crash. This whole thing was designed to happen as it did for the economic benefit of a few, at the cost of millions of Americans’ dreams. It’s all part of the movement to take away our freedoms.
The big thing missing in Capitalism is ethics and integrity; a personal knowledge and awareness that has to be taught at a young age. It is not a natural knowledge.
If Goldman Sax did spot the impending doom, but didn’t blow the whistle and let the Crash and Depression occur to their benefit and their investors’ benefit, that is a huge crime against mankind and the people of this Country. If it was ALL known by the Government and the Federal Reserve etc. as a created bubble to crash the economy on purpose, then we are all in deep yogurt and it’s time to wake up, confront this evil squarely and handle it. Politicians can’t do it. They can’t confront it because they are part of it! It takes a good ethical businessman with high integrity to do this and all of us backing those efforts up. We can no longer take our freedom for granted. Freedom must be continually defended. Those who think otherwise are too busy committing unethical acts in life and business and can’t confront straightening them selves out let alone others.

By: Ulysses Uhaul

Ulysses Uhaul — Wed, 13 Apr 2016 16:06:41 +0000

In reply to NTHEOC. Don't Wonder Dogs wear clown clothes or something?

By: Ted. Mentor to the doomed....Builder of the FUTURE!

Ted. Mentor to the doomed....Builder of the FUTURE! — Wed, 13 Apr 2016 05:31:39 +0000

In reply to NTHEOC.

LMAO— its true— he “wonders” all day long……..zzzzzzzzzzzz

By: LGMike

LGMike — Wed, 13 Apr 2016 03:37:10 +0000

The California public sector retirement funds under union agreements has not lost any money on investments, as contracts specify that any losses must be made good by the employer (ie: state of California).
As such, the Attorney Generals office would NOT have standing because there is no proof of permanent loss. If anyone has standing to sue, it would be the public at large and they would have to prove their was a willful policy to defraud the client ( California taxpayers) which would have to “make good” on under performing investments (otherwise known as profits) to the funds. Additionally, the taxpayers would have a good case against the Retirement funds policies and investment options which focused on high risk and known unrealistic expectations of growth on a year to year basis.

By: NTHEOC

NTHEOC — Wed, 13 Apr 2016 03:29:59 +0000

In reply to Rex the Wonder Dog!. I guess you wonder about a lot of things, Being a "WONDER DOG" and all.

By: Rex the Wonder Dog!

Rex the Wonder Dog! — Wed, 13 Apr 2016 02:05:59 +0000