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<blockquote data-quote="rickyb" data-source="post: 6128579" data-attributes="member: 56035"><p>The whole thing was a scam. Wall street funded the local companies, then the local companies sent the fraud loans back to wall street, then wall street profitted again and sold the junk mbs to pension funds as if they were safe high quality</p><p></p><p>So local guy lost his house and pension funds cut</p><p></p><p>I think during savings and loans fraud 30,000 criminal referals were made to the justice dept. They said we will go after the top 100. One of the guys got away and started fraud again under the 2008 crisis. He gave a lot of money to w bush and bush made him ambassador to some eu country</p></blockquote><p></p>
[QUOTE="rickyb, post: 6128579, member: 56035"] The whole thing was a scam. Wall street funded the local companies, then the local companies sent the fraud loans back to wall street, then wall street profitted again and sold the junk mbs to pension funds as if they were safe high quality So local guy lost his house and pension funds cut I think during savings and loans fraud 30,000 criminal referals were made to the justice dept. They said we will go after the top 100. One of the guys got away and started fraud again under the 2008 crisis. He gave a lot of money to w bush and bush made him ambassador to some eu country [/QUOTE]
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