Aren’t these traunches of complex and worthless mortgage loans really just bogus assets used to fool people?
Posted in Mortgage Loans on 10/31/2011 10:16 am by admin
Question by Tempting: Aren’t these traunches of complex and worthless mortgage loans really just bogus assets used to fool people?
They were worthless stacks of paper to inflate their balance sheets and, thus, qualify to make more loans and investments. They got around the law for required assets with objecting numbing bs. Pure smoke and mirrors. They found a way to get more and more leverage.The banksters are quietening lying, my friend. It is worse than they say. If carefully audited, these worthless mortgage notes will be determined to be be nearly worthless to completely worthless. Lies, lies and more lies.
Best answer:
Answer by Jacub2d
Yep, it’s all a numbed game, Enron used the same thing but was closed down because of it. The banking system is getting away with it and we’re buying the BS.
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