11/13/2014

the rotten US mortgages are back again.... since 2008 (when the financial system nearly collapsed)

yep, they are trying to explain them away - but that they did also in 2008 - so there is no reason to believe them this time because it is the same old stupid trick (you put some really rotten financial loans in a big back of good financial products and sell them together saying that the global risk is 10% for example but without guaranteeing that it will stay 10% and when it is proven that one such back is in fact nearly totally rotten (because of unexpected economic circumstances not foreseen in the calculation of the risk) than all the other bags (even if they are totally different become suspicious (even if that is because the calculation of the risk is to be overdone every so many hours) and they all have to be sold at very low prices creating huge losses for those who have bought them and eventually used them against other good loans they can't repay or guarantee any more). 

so who is buying them and I hope that they are not being bought by banks that were saved with money from the taxpayers and those who would buy them should be told that they will not be saved by the state next time 

if they want to take the risk - than they take the risk - alone and with their own money 

source http://www.bloomberg.com/news/2014-11-12/bank-of-america-citigroup-said-to-sell-soured-home-loans.html

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