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Friday, February 24, 2012 12:41:39 PM
Your senario is way off.
The loan originators did not use even one penny of their money to write a single Fannie Mae or Freddie Mac mortgage.
They were all given a commercial line of credit at an extreme discount and made the debt payments with what was supposed to be secured mortgages.But the mortgages were not secured.So what was done was the banks and mortgage brokers were paying with a counterfiet form of payment.But it did not matter to them because the big banks and mortgage brokers held trustee positions and servicer rights.So they created the personna of hiding what they did.As I state personna.It is anything but hidden.It is all filed with the SEC and the trust themselves are so fately flawed that it cannot be described as anything other than criminal fraud.
And yes,in this world the politicians"really"allow it to happen and assist in keeping a lid on it.However the pressure cooker can no longer let out enough steam fast enough and if the United States does something as foolish like Greece did and hand over gold to the world bankers.All bets are off and so are the gloves of we the people.Traditionally when we the people get to that point we the people always win.What stinks is that it takes much more invasion of liberties for that to happen because the sheople don't know any better than to go to be fleeced then walk to slaughter.Off with Fannie's head for telling the public to go eat cake.That's after king David's relatives bash it in the head with a stone thrown from afar away slingshot.You remember the story of david and goliath and what happened after goliath was eliminated,don't you?
History can repeat itslef for the good as well as the bad.
My relatives from the tribe of Gad go back that far in history.
I think the big book says 12,000 of us are gonna throw stones at goliaths head before we chop it off.
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