Wednesday, July 30, 2008

If you can get enough people to buy a home for no money down, you can buy their country for no money down.

Mortgage Market Musing

Normally moving money out of a government in excess of the total taxes that year would be hard to do. However, I could use securities fraud. I could issue a lot more government securities and government agency (like mortgage agencies) securities than I recorded on the government books and sell them abroad. I would have to make sure not to publish audited financial statements as that would increase the liabilities of engaging in this kind of fraud. It would help a lot if I could pool mortgages and sell government agency securities to finance those mortgages in a process where the same mortgage could be sold many times into the same pool. Investors would not notice or care because the securities were government guaranteed.

Posted by malct @ 11:41 AM (610 views)
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2 thoughts on “If you can get enough people to buy a home for no money down, you can buy their country for no money down.

  • Good article and worth a read. Come the end of the Holiday mood the realisation of what has actually happened will start to take effect and perhaps a few more people will start to read and think.

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  • thanks plato I’m limping without a password and with little motivation

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