Jump to content
House Price Crash Forum
Sign in to follow this  
eric pebble

Superb Video By William K. Black Associate Professor Of Economics And Law At The University Of Missouri.

Recommended Posts

William K. Black associate professor of economics and law at the University of Missouri:

"AN EPIDEMIC OF MORTGAGE FRAUD":

HE SPELLS OUT PERFECTLY HOW LIAR LOANS WERE KEY TO FINANCIAL CRISIS.

WATCH THIS 28 MINUTE VIDEO

AS THE PROFESSOR SPELLS OUT HOW MORTGAGE FRAUD/LIAR LOANS ARE

THE KEY TO THE MESS WE ARE ALL NOW IN.

"IT WAS A PONZI SCHEME."

http://www.ianfraser.org/even-though-many-banks-deliberately-set-out-to-defraud-the-authorities-continue-to-turn-a-blind-eye/

Edited by eric pebble

Share this post


Link to post
Share on other sites

Smoking Gun: Liar Loans Were Imported From the United Kingdom:

Readers should pay attention to this proof that the bankers are totally at fault for the housing bubble and crash.

The smoking gun is that the liar loans, which were central to the most intense part of the housing bubble, were imported from the UK, not just to the United States, but to PIIGS nations in Europe as well. The liar loans may have been different slightly in make up from country to country. For example in the UK you had to put money down. In the US you could have a no down, interest only, liar loan!

But, it is pretty clear that the financial system the world over was interested in liar loans for one reason. That reason was to get folks to buy investments in risky CDO's that made banks large profits through origination fees. This was all about the banks, thought up by the banks, and encouraged by the banks. The banks had an ulterior motive for this behavior. Main street had no clue. One banker said you just needed to fog a mirror to be eligible for a liar loan in the UK.

The truth is, the UK had been allowing these loans for years....

The point of all this of course is that this was a multi country scam, thought up by the banks for the benefit of the banks. The criminal element was on the backside, the selling of these fraudulent bonds. On the front side, the amount of the loans actually drove real estate prices up. And we know that happened in the UK, in the USA, in Spain, etc.

..//..

The hot money originated in the UK Square Mile, which makes Wall Street look like a conservative place! The casino of the Square Mile is the most brazen on earth. That, of course, explains why the liar loan scam originated in the UK!

We know that the banks are busy trying to get the borrowers to share the blame. But on the deepest level of this scam, it was premeditated by the banks and would not have existed were it not for the banks.

Read more: http://www.businessinsider.com/smoking-gun-liar-loans-were-imported-from-the-united-kingdom-2012-1#ixzz2RC0hHLyq

Edited by eric pebble

Share this post


Link to post
Share on other sites

Are the sheeple getting it though? Must be weird having "bought" at the top of the bubble and slowly realising that someone else is going to be prevented from being as stupid as you to help you offload the debt? Many sheeple waking up to the fact that the buck (or lack of :lol: ) stops with them?

Share this post


Link to post
Share on other sites

What chance of legal action by sheeple against lenders now that the truth is out? How many will just stop paying when they get to a certain point underwater?

Organised Class Action --- needed NOW.

Share this post


Link to post
Share on other sites

Are the sheeple getting it though? Must be weird having "bought" at the top of the bubble and slowly realising that someone else is going to be prevented from being as stupid as you to help you offload the debt? Many sheeple waking up to the fact that the buck (or lack of :lol: ) stops with them?

Paul Moore: Why Griffith-Jones must step down as FCA chairman:

http://www.ianfraser.org/paul-moore-why-john-griffith-jones-must-go/

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 241 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.