Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
3 comments

Matt Taibbi on the Explosive Investigation Revealing the SEC's Cover-Up of Wall Street's Crimes

Quicklink submitted by Sheila Samples     Permalink
Related Topic(s): ; ; ; ; ; ; , Add Tags

Must Read 1   Well Said 1   Supported 1   View Ratings | Rate It

Headlined to H2 8/25/11
Become a Fan
  (36 fans)


At www.alternet.org

This whole issue of securitization was central to the cause of the financial crisis. All of the banks--not just a few of them-were engaged in this wide-scale fraud scheme to take worthless and/or extremely risky subprime mortgages and sell them as AAA-rated investments to unsuspecting investors all over the world, including pension funds here in the United States and foreigners in Scandinavia, China, Saudi Arabia. Basically, this was a fraud scheme where you're selling garbage as gold.

Read the rest of the story HERE:

At www.alternet.org


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
3 people are discussing this page, with 3 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

How can the economy work when there is virtually n... by Richard Clark on Thursday, Aug 25, 2011 at 9:02:51 AM
The major bankers and corporate organized criminal... by Steven G. Erickson on Thursday, Aug 25, 2011 at 10:34:05 AM
It is time for a consortium of concerned-informed ... by Ethan Allen on Thursday, Aug 25, 2011 at 3:33:23 PM