more, deeper evidence that America is operated by the vampire-squid oligarchy, which is deeply, totally, untouchably corrupt.
The oligarchy has corrupted the govt into subservience to enable/empower/protect/enrich the oigarchy.
There is effectively NO WAY For The People, totally disenfranchised, to "take back" their country, which the white, male wealthy Founding Fathers never wanted them to have anyway.
iow, America is ed and un able.
Ladies and, gentlemen, please give it up for a very funny man, Johnny One Note!
He'll be here all week, please be sure to tip your bartenders and waitresses, they're working hard for you.
Preemptively rebutting the myth that careless borrowers and the CRA of 1977 caused the 2008-9 crash. That zombie will not die.
https://www.justice.gov/opa/pr/ubs-a...ked-securitiesUBS AG and several of its U.S.-based affiliates (together, UBS) have agreed to pay $1.435 billion in penalties to settle a civil action filed in November 2018 alleging misconduct related to UBS’ underwriting and issuance of residential mortgage-backed securities (RMBS) issued in 2006 and 2007. This settlement resolves the last case brought by a Justice Department working group dedicated to investigating conduct of banks and other en ies for their roles in creating and issuing RMBS leading up to the 2008 financial crisis.
bit ofa reach back. how you find all this old ?
the settlement is brand new, just popped up on twitter for me.
No I mean all these old threads you update.
Some of the thread les I more or less recall. For those I don't recall, plugging keywords into the thread search usually works.
Key concept: "the bezzle"
The bezzle, a word coined in the 1950s by a Canadian-American economist, is the temporary gap between the perceived value of a portfolio of assets and its long-term economic value. Economies at times systematically create bezzle, unleashing substantial economic consequences that economists have rarely understood or discussed.
https://carnegieendowment.org/chinaf...lmarkets/85179
The purpose of an ins ution is what it does
In this case, to cheat and rip off its customers, pay a fine and promise to do better in the future, only to end up paying yet more fines -- compliance is spendy way before the lost opportunity cost of forgoing crime is added to it.
https://x.com/gaborgurbacs/status/1726974307405033840
A-tranche CRE bonds underwater
I hope no systemically important banks or nonbanks are involved.
https://x.com/BBGVisualData/status/1851010594583069157
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