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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (150914)	1/2/2009 5:21:02 PM
From: geode00	Read Replies (1) \| Respond to of 173976

Securitization is not new, the opacity and outright FRAUD on a grand scale is what is new. If it were not new, we would have been bankrupted long ago....by definition. Securitization as a way of spreading out risks or providing more capital for lending is one thing, securitization as a way of snookering investors and regulators (as if there actually were any) is another thing entirely. It is one thing to provide a mortgage to an individual and another thing entirely to commit fraud in order to write unsupportable mortgages. Message 25293489