Die Amis erkennen langsam, wo die Verbrecher sitzen (mTuL)

DT , Montag, 10.12.2007, 16:22 (vor 6608 Tagen)

Nämlich ganz oben. Paulson als jetziger Finanzminister war nämlich vorher GOLDman Sachs Chef und daher mitverantwortlich für den ganzen Verkauf von SIVs an die Europäer und die Asiaten. Der Chefbetrüger.

Die ganzen Unterstützer des Mortgage-Moratoriums haben nicht die Mortgage-Holder (ich vermeide den Begriff Home-OWNER) im Sinn, sondern ihren eigenen f.... A....., den sie nicht im Knast sehen wollen. Oder am Baum mit dem Kopf nach unten.

Der San Francisco Chronicle hat aber zum ersten Mal ausserhalb der Blogs Klartext gesprochen:

Hier ein Zusammenfassung der wichtigsten Passagen:

MORTGAGE MELTDOWN - Interest rate 'freeze' - the real story is fraud. Bankers pay lip service to families while scurrying to avert suits, prison

The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.

The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process.

And, to be sure, fraud is everywhere. It's in the loan application documents, and it's in the appraisals. There are e-mails and memos floating around showing that many people in banks, investment banks and appraisal companies - all the way up to senior management - knew about it.

The loans at issue dwarf the capital available at the largest U.S. banks combined, and investor lawsuits would raise stunning liability sufficient to cause even the largest U.S. banks to fail, resulting in massive taxpayer-funded bailouts of Fannie and Freddie, and even FDIC.

The problem isn't just subprime loans. It is the entire mortgage market.

Ultimately, the people in these secret Paulson meetings were probably less worried about saving the mortgage market than with saving themselves. Some might be looking at prison time.

As chief of Goldman Sachs, Paulson was involved, to degrees as yet unrevealed, in the mortgage securitization process during the halcyon days of mortgage fraud from 2004 to 2006.

If a mortgage bond investor sues Goldman Sachs to force the institution to buy back loans, could Paulson be forced to testify as to whether Goldman Sachs knew or had reason to know about fraud in the origination process of the loans it was bundling?

We are on the cusp of a mammoth financial crisis, and the Federal Reserve and the U.S. Treasury are trying to limit the liability of their banking friends under the guise of trying to help borrowers. At stake is nothing short of the continued existence of the U.S. banking system.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/12/09/IN5BTNJ2V.DTL&hw=intere...