The Free Market, Financial Style
How the Scam Works
By MICHAEL HUDSON
Here's the rip-off as I see it. For an outlay of $750,000, the bank rids its books of a mortgage worth $2 million, for which it receives $4,250,000. It gets twice as much as the junk is worth.
http://informationclearinghouse.info/article22306.htm
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=Michael+Hudson
By MICHAEL HUDSON
Here's the rip-off as I see it. For an outlay of $750,000, the bank rids its books of a mortgage worth $2 million, for which it receives $4,250,000. It gets twice as much as the junk is worth.
http://informationclearinghouse.info/article22306.htm
http://freepage.twoday.net/search?q=mortgage
http://freepage.twoday.net/search?q=Michael+Hudson
rudkla - 27. Mär, 22:11
