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Financial news I consider important, with my opinion, which is worth as much as you paid for it.
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Wednesday, October 20, 2010

Trillion dollar fraud allegations

The title of this post may seem a bit over the top.
Karl of the Market ticker has a must read on his blog, click here to read.
In essence, the top 5 banks, as part of mortgage gate, may have over a trillion dollars in mass fraud-ed securities.

If this is true, what has in effect happened, is pension funds and other long term savings plans have in effect been already robbed, and we as a society won't find out until the notes are cashed or if the government actually started to enforce the law.

Video from the post.


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