http://tinyurl.com/k9kd2hp

jon_banquer wrote:
http://tinyurl.com/k9kd2hp




Interesting article. However, the article is inaccurate
in its speculation that bank depositors will end
up paying the bill for the follies of big investment banks.

Under current law that is simply not possible.



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On Sunday, July 20, 2014 4:37:17 AM UTC-7, wrote:
jon_banquer wrote:

http://tinyurl.com/k9kd2hp









Interesting article. However, the article is inaccurate

in its speculation that bank depositors will end

up paying the bill for the follies of big investment banks.



Under current law that is simply not possible.







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Glad you enjoyed the article.

On Sunday, July 20, 2014 11:43:55 AM UTC-4, jon_banquer wrote:
On Sunday, July 20, 2014 4:37:17 AM UTC-7, wrote:

jon_banquer wrote:

http://tinyurl.com/k9kd2hp

Interesting article. However, the article is inaccurate

in its speculation that bank depositors will end

up paying the bill for the follies of big investment banks.


Under current law that is simply not possible.

America's legal and justice system has TRIED to be mousy and not enforce laws (like the Justice Department wants), but that has failed.

At the since 2008, wrongdoing by billionaires like Rupert Murdoch and in the subprime lending arena with John Paulson and his salesman Fabrice Tourre and others has all come to light.

What would have been normal subprime lending numbers minus their shenanigans is clear. So you sue for the shenanigan subtraction, then everything is closer to back to normal.

Am I wrong, jon ??

wrote:
On Sunday, July 20, 2014 11:43:55 AM UTC-4, jon_banquer wrote:
On Sunday, July 20, 2014 4:37:17 AM UTC-7, wrote:

jon_banquer wrote:

http://tinyurl.com/k9kd2hp

Interesting article. However, the article is inaccurate

in its speculation that bank depositors will end

up paying the bill for the follies of big investment banks.


Under current law that is simply not possible.

America's legal and justice system has TRIED to be mousy and not enforce laws
At the since 2008, wrongdoing by billionaires like Rupert Murdoch and in the subprime
What would have been normal subprime lending numbers minus their shenanigans is clear.

Fraud was committed by borrowers, lenders, brokers, appraisers and
the ratings agencies. The victims of the fraud were the investors who
poured trillions of dollars into the securities that were funding
the fraudulent mortgages. It turns out documentation for
these loans was full of lies.

By the way, It was those trillions of dollars that private
investors pored into the market that fueled the huge bubble
in home prices.

What happened is pretty simple. Sub-prime mortgages were bundled
and sold to investors by large wall street firms. Other large
wall street firms (the trustees) collected the mortgage payments
and distributed the proceeds to the investors.

The remedy for fraudulent mortgages was that if the loan
documentation turned out to be false, the original lender
was required by contract to buy the loan back. In other
words, false loan documentation was simply a breach of
contract. However the courts ruled that the investors
were not party to these contracts. The contracts were
between the wall street firms that sold the securities
and the wall street firms that administered the securities.
And guess what? Those wall street firms didn't sue each other.
So now the investors are suing the trustees because the
statute of limitations for the trustees to sue the loan
originators has expired.





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On Sun, 20 Jul 2014 06:37:17 -0500, jim
" wrote:
snip
Interesting article. However, the article is inaccurate
in its speculation that bank depositors will end
up paying the bill for the follies of big investment banks.

Under current law that is simply not possible.
=================
Not directly as depositors, but indirectly as
taxpayers/savers, e. g. TARP, FRB Q.E. depressing yields,
etc. Indeed, there is an ongoing TBTF "subsidy." All honest
taxpayers are "on the hook"...
http://tinyurl.com/pvjwbso
http://tinyurl.com/p4ny5uz


--
Unka' George

"Gold is the money of kings,
silver is the money of gentlemen,
barter is the money of peasants,
but debt is the money of slaves"

-Norm Franz, "Money and Wealth in the New Millenium"

F. George McDuffee wrote:
On Sun, 20 Jul 2014 06:37:17 -0500, jim
" wrote:
snip
Interesting article. However, the article is inaccurate
in its speculation that bank depositors will end
up paying the bill for the follies of big investment banks.

Under current law that is simply not possible.
=================
Not directly as depositors, but indirectly as
taxpayers/savers, e. g. TARP, FRB Q.E. depressing yields,

Yields are depressed because of market forces. There is a
huge over-supply of savers. The savers have no one but
themselves to blame for low rates. With so many truing
to save a few who are credit-worthy willing to borrow
where did you think interest rates would be?


etc. Indeed, there is an ongoing TBTF "subsidy." All honest
taxpayers are "on the hook"...

You think low interest rates put taxpayers on the
hook, At the same time you think high interest rates
put the taxpayer on the hook. Doesn't your self-contradiction
ever bother you?



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