BlindBoo
Diamond Member
- Sep 28, 2010
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The 2008 global financial crisis, manufactured by the Fed and their Wall Street puppeteers, was catalyzed by hundreds of billions in bad debt issued as part of the largest control fraud scheme in world history.
To whom was the bad debt issued, and why?
Hint: Look up Community Reinvestment Act.
Hogwash. Most of the bad debt was in the sub-prime market but the lenders were not writing mortgages because of threats of the CRA. Most of the loans that went bad were investors counting on ever increasing home prices and quick rollovers before the ARMs went up to turn huge profits. To be sure a percent of the loans were to gullible people or people who were snookered into a ARM that got killed when the rates skyrocketed.