"Those challenges [...] could then be used to investigate the documentation practices that occurred [...]. Inflated income levels, fake home appraisals and other lies inserted into mortgage documents [...] could [...] force big banks to buy back the garbage they peddled in the first place to unwitting investors."
Let's recap, in 2008 the financial markets froze, requiring $T's in bailouts and more $T's to appease the socialists, in 2010 the unraveling begins, in 2012 the world ends, so who gives a shit anyway.
No actually, the MBS problem is anywhere from $135T to $175T, which throwing $1T or $2T either way isn't going to amount to more than a drop in the bucket.
These sleaze bags in the deregulated banking industry, investment firms, secondary mortgage market, and US Congress and Administration should all be rounded up and shot. The only unanswered question is what will fill the void created by their demise? A one world government set up to save the day, or a return to minimal government interference in the lives of individuals as envisioned by the framers of the US Constitution. You can't have it both ways. If banks are going to fail anyway, what was the point of adding $2.4T to the national debt and sustaining annual deficits of $1T? If the banking industry must be restructured in order to write off bad debt, which Ireland is doing now, what does the taxpayer receive in return for all of this deficit spending? I know the answer, the taxpayer and future generations of Americans will forfeit their livlihoods. The US economy has been raided and American wealth looted and paid out to investment firms. The curious part of all this has been why the US taxpayer must foot the bill, and not require Wall Street and Banking to make it right, in the form of lowest cost services to the consumer. Given the sheer magnitude of the fraud, it will be a miracle if all hell doesn't break loose.
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