How Banks Bought Their Own Mortgage Securities During The Housing Boom (CHART)

wow - big surprise - anyone who has been following me knows that the megabanks and Obama's continuing suppport through bailouts, buybacks, and fed policy of pumping them full of money at the expense of the economy is the reason for our economic condition. This is a simple and straight forward method of running up the value of garbage merchandise - it's like laundering money that similar gangsetrs use to clean up the books. The value and nature of the underlying asset is hidden the more it gets packaged and rebundled and as it gets repackaged it gains value. You then insure the newly repackaged products with the garbage assets disguised and them spread them throughout your portfolio knowing they will fail so you can cover your losses through the insurance company. This is racketeering at it's finest - does anyone honestly believe that all those smart guys in the Obama adminstration and the fed don;t know this = are we to assume that all that leadership is mentally bankrupt that they don't get it? The answer is no - Obama and the fed under his direction are feeding these financial criminals - literally paying them off - think of this as a racket. Obama could have stopped all this when he took office but no - he became a dupe in 3Q08 when he bought the initial story of "financial meltdown" that never existed but now he is a clear accomplice to the looting of america.
Read the Article at HuffingtonPost