Zeev's Turnips Talk Politics (ZTTP)

[sylvester80]

The ground zero of the mortgage crisis was California, Nevada, Arizona and Florida. All 4 of those regions were at price levels well above the Freddie Mac & Fannie Mae limits. Those were all toxic loans, Alt-A liar loans/negative amortization etc.., mainly done and pushed big time (by giving to mortgage originators/brokers double the money to push those instead of fixed rate loans) by the wall street crooks. Then they took those toxic loans packaged them as CDOs, got in bed with the credit houses to certify that junk as AAA and sold them. Freddie and Fannie had nothing to do with it. This was a giant CON game played by the wall street crooks on the backs of middle class America. Those bastards should be in freaking jail (or much worse if I had a say)... the lot of them.