President Obama Slave of wall street

Collateralized debt obligations (CDOs) are a type of structured asset-backed security (ABS) with multiple “tranches” that are issued by special purpose entities and collateralized by debt obligations including bonds and loans these were sold as triple A investments when the sellers knew they were Bad debts.

 Credit Default Swap (CDS) is a form of insurance that protects the buyer of the CDS in the case of a loan default. If the borrower defaults (fails to repay the loan), the lender who has bought traditional insurance can exchange or “swap” the defaulted loan instrument (and with it the right to recover the default at some later time) for money – usually the face value of the loan.

 The lenders used CDS to insure themselves against any CDOs defaulting

All the money gained by using the CDS went in the pockets of the banks

 I think a legal case should be brought against the finance companies becuse these CDS should have been paid to the homeowner because they had paid for them within their mortgage repayments.

This matter should be resolved in court .

 Put simply bad debts where sold as triple A investments when people who sold them knew they were bad debts. They insured themselves against any loss.

This insurance was by the borrower, and the financiers  pocketed all the money paid out by the insurance company for the borrowers subsequent loss.

This is the biggest scam in the history of the world. This led to the collapse of the Worlds Markets. It makes the rioters who followed this fraud look like altar boys.No one has been brought to Justice for this,  their punishment was to be rewarded with tax payers money and even bigger bonuses.

 

There is an estimate that these Bankers spent over 10% of their considerable incomes on vice , drugs, and prostitution and this was all paid for by their companies on company credit cards and I think if the serious crime squads worldwide seek the truth, we can still get some justice from these crooks remember it was tax evasion that brought down Capone. We can get them for expenses fraud. unfortunately I understand the head of prostitution was given immunity from prosecution provided she kept dumb. However a team of auditors can correct this.  

  This corruption of the banks can be compared to the Capone era.

 President Obama came to power promising to bring the villains to justice so far he has just reappointed the people who were in financial power under Bush and it is more of the same.

 President Obama has become the slave of Wall Street. Why?

 

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