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Monday, October 18, 2010

Are ALL Mortgage Backed Securities a Scam?

American Scofflaw

As the foreclosure crisis deepens, the calls for criminal charges against the big banks have steadily mounted. The whole reason laws are created are to prosecute criminal acts such as those carried out by JP Morgan, Citigroup and Bank of America.

Apparently their are some who believe that Congress will actually pass a law sanctioning bank fraud. Senior CNBC editor John Carney has predicated that Congress will pass a bill in the lame duck session that would do just that:

Its almost as if TPTB are putting forward this idea to gauge how the public would react to basically giving the go ahead on nation wide fraud. The major banks have funded both political parties to basically shill for their companies and pass unconstitutional laws that sanction scam after scam."

If such legislation is presented and passed by Congress in a lame duck session, and American citizens do not protest in fury, this country is toast.

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