Good beatdown of a 1%'er

lol

 

This is the problem with the "Sophisticated Investor" defense the banks are using, saying the buyers were "S.I.'s"...

The banks have been buying back the securities because they were fraudulently rated (S&P e-mail that said "Let's hope we're rich and retired by the time this house of cards falters"), fraudulently advertised (John Paulson), or fraudulently structured (the banks "lost" the paperwork needed for legally securitizing the mortgages - called "perfecting the securitization process").

Now, fraud is not about the guy who is doing the buying. You can be a barely-functional moron (admittedly, most of the pension fund managers probably rate that high - barely), but (maybe unfortunately), it's not a crime to be STUPID.

So if the banks want to dodge responsibility for originating the whole process, they are going to have to do a lot better than the "S.I." defense.

 

dead center bulls eye

 

Worse than what? A democrap?

 

Yes. Reichtards are worse than democraps.

 

In what way?

 

In every way. +1 to post count and pageviews.

 

Then you are a certified part of the problem and not the solution.

 

I think the same of you, with equal conviction.

 

You're not very good at thinking then Ricky. It's the die hard party liners like you that are preventing any real "hope and change" in this country.