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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (546037)	1/25/2010 6:17:27 PM
From: koan	Read Replies (2) \| Respond to of 1575558

It was not home ownership it was getting rid ogf glass Steagall and allowing 40 to 1 leverage. Why did we give 182 billion to AIG no questins asked? They are an insurance company and all loans with less tan 20% equity have mortgage insurance (PMI), so why wasn't that enough to pay off the bad loans? Credit defaut swaps: CDS's: AIG was writing mulitple insurance policies on the same property and making huge commissions. They did it out of London where there were no regulations and each person made over a million a year. When the tide turned they could not pay. collateralizd debt obligations: CDO's: Countrywide was issuing "no paper" loans. They did not care if the loans were any good because they bundled the loans into huge baskets of loans, Moody's stamped them triple AAA and they sold them. It was not triple AAA paper so we the US, committed fraud on all the countries who bought the debt! They thought they were getting triple AAA paper! YOU have to decide if you want to live your life according to the truth or make believe.