Today, Fed Chairman Bernanke is facing the reality of massive Money Laundering Scheme that is now threatening the entire US banking system. Just as "globalists" destroyed the Savings & Loan industry 25 years ago, they're now after US banking. Bernanke is now forced to face the fact the run up of US housing values is nothing more than a money launderings scheme and "contra-band" profits will NOT be allowed. If BofA buys Countywide, it will control 90% of US Home Loans.
Of course, there's no such thing as "Bank of America"..it's actually NationsBank. 25% of the NationsBank board are also Board Members of Sunoco Products. In l988 Sunoco Oil purchased ARCO oil. In l999, when NationsBank bought BofA, the largest stockholder of NationsBank was Sindey R. Knafel...who also owned "IGENE" and "Bio Reliance".
BioReliance was started in l947 to assist the Dept of Defense in "weaponizing" biological materials. specifically "Small Pox". Knafel acquired the company in l984. Never put money in your mouth...now you know where it's been.
†he ONLY way the Fed can legally "interfere" with contracts..if they are "void", "voidable", "partially rescinded" for failure of "consideration". His suggestion that the repayments be "forgiven" is tantamount to recognizing the failure of the "consideration". Or "Fraud" in the inducement.."ie" Fake Property Values. In fact, "inflated property values" are being investigated throughout the US.
Of course, there is no indication that NationsBank had anything to do with inflating property values.
Maybe he should "threaten" the oil companies as well. Today, he's insisting that the "worst offenders" forgive home loans in whole and in part. In addition, the "international banks/scam artists" are "overvaluing repossesion" losses to justify "laundering" additional hundreds of billions of dollars, the pretend to "shore" up the system.
SaudiBank suggests the first $22 billion is NOT enough to keep the "doors open" or should I say..to keep the "Scam Running". As I understand it, "Prime Losses" are actually greater than "Sub Prime. In other words, a 1.5% loss rate on "Prime Loans"...that constitute 80% of the market is far larger than a 7% failure in 15% of the market.
The "Sub Prime" crises is actually a "Prime" crises. It seems there are a ton of "ex Mortgage" brokers who are beginning to talk. They are advising zorro that they intentionally lied to "Prime Borrowers" and told them they were "SubPrime"...or "crammed them into" SubPrime to make more interest.
A "Cram" was actually paid a "bonus". A "Cram" is defined as "convincing a person with A+ credit" that they couldn't qualify for a "Prime Rate". In California, "Crams" were paid a flat "bonus" of $15,000....! over and above Generous commissions.
Most Loan Brokers earned roughly $10,000 per day. Otherwise, they were asked to leave the firm. Keep in mind the "Mortgage Brokers" don't make the "lending" rules. The "qualifications" are set by the "Banks"...the Mortgage Brokers just "line up the prospects".
The zero to low income is just one "scam"...whereby the "lenders" not the brokers..created a "fictional" loan application so they could "Convert" the Real Estate into the "lenders portfolio". Basically, the "SubPrime Market"...was simply a "vehicle" to transfer title to hundreds of thousands of US homes to the banks.. The "borrower" was nothing more than a "Middle Man". A "straw purchaser".
Who is responsible? Deutsche Bank! Who owns Deutsche Bank? go fish.
zorro.
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