JP Morgan Chase settled a civil action for lying to investors buying mortgage securities. Seems the Bank who wrote bad loans to people who couldn't possibly repay bundled the toxic assets and sold them as sound safe securities for investors. Retirement accounts were some of those who were blindly led to slaughter.The 153 million dollar settlement will return some of the money taken fraudulently. The TARP bailout to AIG that insured these same mortgages is as sound as the worthless mortgages themselves.
The Banksters wrote lousy mortgages to people who couldn't pay. Then insured them with AIG who also couldn't pay then sold the snake oil to investors as AAA rated securities making money hand over fist. The very same scam as Bush 41 Silverado Savings $160 billion dollar Thrift scandel of the 1980's.
Then Moneybags Bush43 rushes in with TARP money. Invents the first law of 2big2fail. Hands out bailout money to AIG. AIG pays the fraudulent insurance on the fraudulent loans written and "We The People" get the bill for our grandchildren to pay with Houdini Dollars printed at the Federal Reserve.
The Federal Reserve is where the Confetti Standard begins. With Zero percent loans to 2big2fail Casino Bankers buys interest paid Treasury Bills creating money from thin air. The Houdini Dollars are then invested in the Falsely Stimulated Stock Markets that give the appearence that all is well.
Last Year Goldman Sach paid 550 million for similar charges. The settlements are kept to a minimum as both Casino Banks are 2big2fail, 2big2loan and 2big2foreclose meaning they are useless in America.
The more Houdini Dollars you pour in the market the bigger the bubble is gonna get. When she blows the next time, I hope ya got a big garden cause your Houdini Dollar will be worthless as the institution who printed same.
Keep yur powder dry fellas.
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