Friday, August 26, 2011

Bam Pushing to Let Big Banks Get Away With Crimes

Even if you don't like to follow finaicial news much, please take the time to investigate this. Our politics won't matter, they will just be a show, if stuff like what follows goes through....

The banksters sold America and the world fraudulent securities and made hunderds of billions of dollars (if not more than a trillion) from this criminal activity. Basically they sold mortgage backed securities that they held out to be highly rated that were phony or already in default. Sometimes the same mortgage payment was sold in more than one batch of securities. Then they did not properly pay local governments the fee that the rest of us have to pay to transfer title, so they did not really transfer the underlying property attached to the securities.

This was a titantic wave of fraud and crime that dwarfs any finanical crime committed by any mafia family in American history. Still, The Resident is working out a way to let them off the hook for it. Since our dominant media is corporate and bankster controlled, we have to look to a magazine put out for dope smoking field hippies to find the truth on this matter.


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