Tuesday, January 27, 2015

Watch Out The Investors Will Tank Us Again

Last time it was through sub-prime mortgages.  Greed heads securitized debt-mortgages and sold them as bonds to other greed heads.  As the demand for more bonds increased that increased the demand for more debt to turn into bonds. Lenders obliged by lowering lending standards to meet the demand for debt.  Bond rating agencies, for a fee, rated the mess AAA+.  Then it all collapsed in 2008.  And we, through our government bailed them all out.  No one was sent to jail.

Funny how these folks make money on those with lesser incomes.  Now the same turds are doing it again, but with sub-prime auto loans.  There oughta be a law, but there won't be since the investment firms have purchased Congress and the White House, how do you think 2008 occurred anyway?

Investment Riches Built on Subprime Auto Loans to Poor

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