The Mudcat Café TM
Thread #102499   Message #2445211
Posted By: Amos
19-Sep-08 - 01:30 PM
Thread Name: BS: Crash of U.S. Economy
Subject: RE: BS: Crash of U.S. Economy
SO, lemme see...who is it gets the fees for psuhing complex debt structures down the throats of the semi-literate wage-eatrners who don't understand what they're signing? Who is it that makes a few points when they bundle a thousand such mortgages, sold on the basis of a rising market that could not last, sweetened with ARM into rates and dreams that would not materialize, and lubricated with unregulated free-market dynamics, and rolled them up to large investment houses by their tens of thousands?

This is sheer corruption, supported by a fee-based system and sheltered by an indifferent government who knows, and cares about, only the buck.

ANd the bang-bang-bang.


A