Ted Cruz's Creditor Pays Historic Regulatory Penalty

[Toddsterpatriot]

If you own a house, you buy fire insurance against that house because you stand to lose money if it burns down.

If the house of someone across town burns down, you don't suffer a financial loss. This means you do not have an "insurable interest" in that stranger's house.

You cannot buy fire insurance against a stranger's house because of the insurable interest requirement.

The reason you cannot buy insurance against a stranger's house is pretty obvious. There would be a shitload of arsons. A guy could buy insurance against a stranger's house, make a single premium payment, and then torch that stranger's house to the ground and collect the insurance.

So not all regulations are bad, eh? Some save lives and money.

But imagine if you could buy fire insurance against a stranger's house. Imagine if everyone could.

A $200,000 house could have ten policies against it by strangers. Now if the house burns down, the insurance company isn't out $200,000. It is out $2 million!!!

And that is the problem with CDS. They do not have an insurable interest requirement. They are totally unregulated.

A person could bet against your mortgage burning down. Not kidding.

Now think about that.

If you are an arsonist, what's a sure way to guarantee a bunch of mortgages are going to burn to the ground?

You lend money to people you know can't possibly make the payments. Then you build a CDO out of those mortgages. Then you build a synthetic CDO on top of that toxic CDO.

But since there isn't even an insurable interest requirement for CDS, you can go out and find toxic mortgages which you didn't even make, and pack them into your synthetic CDO!

Then you sell the tranches for that synthetic CDO to some mushroom investors who you don't tell you built this whole firetrap. They have no idea you are on the other side of the bet, because you used Goldman Sachs as your cutout.

Then you throw the match and collect the insurance.

That's ABACUS 2007 AC-1.

Now tell me those fuckers don't belong in prison.

A person could bet against your mortgage burning down. Not kidding.

If I could do that and then stop you from paying your mortgage, I'd be rich!!!

You lend money to people you know can't possibly make the payments. Then you build a CDO out of those mortgages. Then you build a synthetic CDO on top of that toxic CDO.

Did Goldman make the original loans? Did Goldman build a CDO out of the original loans?
As far as I know, they only built the synthetic CDO.

But since there isn't even an insurable interest requirement for CDS, you can go out and find toxic mortgages which you didn't even make, and pack them into your synthetic CDO!

That's a relief. Your scary hypothetical was just a hypothetical.

Then you sell the tranches for that synthetic CDO to some mushroom investors who you don't tell you built this whole firetrap. They have no idea you are on the other side of the bet, because you used Goldman Sachs as your cutout.

So Goldman sold both sides of this stuff and did not bet against their clients?
So many changing claims. It's difficult to keep track.

Then you throw the match and collect the insurance.

Paulson made all those shaky borrowers default?
He's one bad mother........I think I found his picture.

That's ABACUS 2007 AC-1.

Yeah, after subtracting all your errors, that's ABACUS 2007 AC-1.

 

[Toddsterpatriot]

Jon Paulson made one billion dollars just off ABACUS 2007-AC1.

One billion dollars.

ABN Amro, one of the investors, went under because of that scam. They were acquired by RBS, which also went under later in the crash.

You know how big a fine Goldman paid for that scam?

HALF a billion dollars.

You know how big a fine Goldman paid for that scam?

HALF a billion dollars.

Half a billion??? After earning $15 million in fees. I hope they've learned their lesson.

 

[Staidhup]

Big deal, your point is what? Will the same donor integrity litmus test apply to the Hag and Bernie, or it that somehow different? Bottom line all politicians are bought and paid for.

 

[blastoff]

LOL...another swing and a miss for NTPP.

 

[g5000]

Jon Paulson made one billion dollars just off ABACUS 2007-AC1.

One billion dollars.

ABN Amro, one of the investors, went under because of that scam. They were acquired by RBS, which also went under later in the crash.

You know how big a fine Goldman paid for that scam?

HALF a billion dollars.

Is Jon Paulson by any chance related to Henry Paulson? You remember, the ex-CEO of Goldman who just happened to also be Dubya's Secty of the Treasury.

I misspelled his name. It's John, not Jon.

As far as I know, they are not related.

 

[g5000]

Must have made Hussein's 'Enemies List.' Neither him or any of his IRS Henchmen have been held accountable for their crimes. It's time to investigate and prosecute the President.

A better use of time and taxpayer's money would be an investigation into the SEC.

Oh, Christopher Cox would be at the front of the line for a lynching in my book.

 

[paulitician]

If they were Democrats, Hussein's Henchmen would haven't have touched em. Bet on that.

 

[g5000]

If they were Democrats, Hussein's Henchmen would haven't have touched em. Bet on that.

Goldman Sachs is a big contributor to the Democratic party.

In fact, one of their former CEO's went on to become the Democratic Governor of New Jersey. He then followed up by starting a hedge fund which then suffered one of the ten worst bankruptcies in US history. As the hedge fund was collapsing, he violated securities laws by using customer money to cover his shortfalls.

In typical fashion, rather than arresting him, the government took him to civil court instead.

 

[g5000]

Jon Paulson made one billion dollars just off ABACUS 2007-AC1.

One billion dollars.

ABN Amro, one of the investors, went under because of that scam. They were acquired by RBS, which also went under later in the crash.

You know how big a fine Goldman paid for that scam?

HALF a billion dollars.

You know how big a fine Goldman paid for that scam?

HALF a billion dollars.

Half a billion??? After earning $15 million in fees. I hope they've learned their lesson.

This is exactly why John Paulson used a cutout.

 

[Wilbur Right]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

 

[SassyIrishLass]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

GFY Wilbur, it seems you are incapable of civility and I find you a bore

 

[Dot Com]

With all the shit Hillary has pulled this is what gets you worked up? LOL

Topic. Can you stay on it?

As to the OP, everyone has to know that Cruz intentionally kept it quiet

Sent from my VS415PP using Tapatalk

 

[Wilbur Right]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

GFY Wilbur, it seems you are incapable of civility and I find you a bore

Did I make you look stupid....again sassy.

Poor dear.

Or was it your weasel that you are offended for? Poor little sassys weasel.
LMAO.

WtF at least I typed the truth about Canadian ted and his campaign disclosure.

 

[SassyIrishLass]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

GFY Wilbur, it seems you are incapable of civility and I find you a bore

Did I make you look stupid....again sassy.

Poor dear.

Or was it your weasel that you are offended for? Poor little sassys weasel.
LMAO.

WtF at least I typed the truth about Canadian ted and his campaign disclosure.

now

 

[Stephanie]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

go freaking do a citizens arrest on his ass you already have him CONVICTED. OR sit down

 

[Iceweasel]

Will Hillary be returning the 700K she took from Goldman Sachs in contributions?

Did Hillary disclose that money properly. Or try and hide it like ted?

Where's your evidence he tried to hide it?

LMAO. You dumb fuck, it wasnt on his campaign disclosure to the FEC.

What you think he (ted) is talking about it being just an oversight an would be corrected?

You think ted is just talking about this for fun?

GFY Wilbur, it seems you are incapable of civility and I find you a bore

Did I make you look stupid....again sassy.

Poor dear.

Or was it your weasel that you are offended for? Poor little sassys weasel.
LMAO.

WtF at least I typed the truth about Canadian ted and his campaign disclosure.

Seriously, how old are you? You said you had grown children so you are either lying or you have a severe medical condition.

 

[Iceweasel]

With all the shit Hillary has pulled this is what gets you worked up? LOL

Topic. Can you stay on it?

As to the OP, everyone has to know that Cruz intentionally kept it quiet.

Avoidance. Can you stop? Sorry, Skipper, it doesn't work that way, you are not my master, go fuck yourself. Hillary has a mountain of bullshit stacked up so the left has to make mountains out of right wing molehills and you don't get to dictate responses to cover it up.