JP Morgan Sold Investors MBS Covered By "SACK OF SHIT" Loans... Then Shorted All Those With Exposure: A Goldman-AIG Redux
It's all part of what Bill Black calls control fraud. Click these links or Google it. It'll upset you and make you very angry.
It's just one more in a series of revelations that seem to crop up every day or two in the internet media that I read. No exposure in the mainstream press. If you're one of the sheeple tuning in to CNBC and watching news on the broadcast channels or even the popular cable channels, you probably never heard about any of this. We're three years on from the start of the crisis and probably fast approaching some sort of statute of limitations. And with the exception of two failed prosecutions of a couple of Bear Stearns hedge fund managers, we have no indictments, no prosecutions, and no one in jail. Madoff doesn't count. His wasn't control fraud or housing related. Just a run of the mill Ponzi scheme, though admittedly, a big one. And our government was culpable at every level. A passive participant via regulatory capture leading to criminal lack of oversight, a co-conspirator to the ongoing and unabated looting (I'm talkin' to you, Misters Greenspan, Rubin, Bernanke, Paulsen, Geithner, Gensler, Summers, et al), and an integral part of the cover up. It's called extend and pretend. Google that if you care. And while you're at it, Google Plunge Protection Team. Don't do any of this unless you really want to see how deep the rabbit hole goes. (see the link below for red pill/blue pill)
Maybe I'm just a conspiracy theorist. I don't read the "polite" "accepted" "mainstream" news any more. I read stuff that sounds shocking and unbelievable at first. Maybe it will all get better if I just stop reading those websites. Maybe I should shun the red pill and take the blue pill instead. But I doubt it. To take a quote from the film V for Vendetta, "there is something terribly wrong with this country isn't there?"
Anyway, I started this piece referring to the Zero Hedge article above. I'm only writing this piece because I want to share one of the comments to the article, but felt I needed to provide some background first. Well, you've got the background. Here's the comment:
Yep, consider hearing a doctor tell you that you have 3-5 years left to live. Are you going to become Mother Teresa or Amy Winehouse? For the last three years, many of us who have repeatedly pointed out what is going on and what will eventually occur have actually had a pretty fun time, notwithstanding the mental anguish of seeing one of humanity's greatest experiments in self-government ride off into the sunset. So, break open the liquor cabinet and party on. There will be time enough for discipline & hardship.
Made me very sad to read those words about humanity's greatest experiments in self government, but he might be right. Consider these words from former Supreme Court Justice Brandeis:
Our government... teaches the whole people by its example. If the government becomes the lawbreaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy.
P.S. My cat's been losing weight and for the past two days, he's stopped eating all together. We took him to the vet today, and he says he can't do much. He offered to euthanize him. Kittyman doesn't appear to be in any pain, so we brought him home. I'll be surprised if he sees tomorrow.
It's not been a very good day so far.