Feds buy 1.4 trillion in MBS “mortgage backed securities.”

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) February 9, 2010 --

The Banking industry made the predatory mortgagees designed to fail then they insured the loan against default with companies like AIG these made to fail mortgages were insured many times the face value insured for the full interest and principal and taxes accrued to the thirty year matured value not the face value of the principal but the 30 years matured value you times that by 13 million failed mortgages insured for interest and principal against default that's over 4 trillion dollar net for the banks. The greatest transfer of wealth in our nation's history. Watch the current administration ask for a total this amount in the coming month in pseudo bail out money.
This is what the foreclosure crises is all about and why there have only been 4% of the nations mortgages modified after a year and 1 trillion dollars in bailout ,

The banks get the fully matured rate from the insurance company from made to fail inflated mortgages insured against default, The bank gets the money from the sale of the inflated mortgage backed security from the investor for the same inflated mortgages the bank gets the money for servicing the mortgage after they sell the security. The bank gets fees from the investor for foreclosure and fees from the home owner for foreclosure unregulated fees and the bank gets the property back with what ever down payment and payments the homeowner has made. Then the bank resells the same property when they re-establish the housing market by holding back the shadow housing market never incurring any losses only exponential profits from the American people. We bailed them out. ?
AIG, (American International Group), our nation’s most infamous octopoly, started out in 1919 (in Shanghai, China of all places!)

All mortgage back Securities are automatically insured to the investor against default a no lose scenario for investors. Believe it and who buys these pools of mortgage securities...The federal Gov. Fannie and Freddie Mack, China, hedge funds.

At the same time the banks sold these mortgage backed securities to investors pooling thousands of the mortgages and selling them to investors with a default swap replacement Claus if any of the loans default they will replace the mortgage with another mortgage of the same type and value while the bank insures the loan against default for treble the face value, now the bank is not the owner but now services the loan for the investor removing the banks from the scenario because now the banks are just a mortgage servicer and there is no federal regulator for corrupt mortgage servicers. The now true owner of the note is unknown by the home owner because of the pooling the loan could be owned by hundreds of investors of the pool. the home owner has no due process because no one now knows the true owner of the note but the bank and the banks are not telling anyone because then the investor would compare notes on the mortgage and realize he paid well over the price of the mortgage but far less than the bank will collect from the insurance scam so no homeowner with a pooled loan will know the owner of the mortgage note regardless of what the RESPA and TILA act again the American people are left with no due process The OCC cant help they have CAG to fall back on, not OTC not the FDIC with all the agreement they made with banks unenforceable with no oversight and no due process.
AIG the great insurer was bailed out first by the Government again with the American tax dollar if they wouldn't have bailed out AIG the banks would have been forced to reconcile with home owners and investor to performing loans
We should have let AIG and the banks fail and take there losses then the American people would not have needed the HAMP and the TARP money people would not need bailing out.

There would be no need fore Hamp or bail out money for home owners if the banks had been made to make their portfolios profitable by refinancing their current toxic waste assets into performing loans but the banks received bail out money and now the banks won't modify or refinance anyone for any reason until the Federal government raises the current interest rate. The Feds will be in bed with the banks again. So the bank can again bilk the American people, selling the whole scam all over again. The banks are currently enslaving the American people with usury interest rates on credit cards and the scandalous activity in the mortgage market. The Banks and servicers are cooking the books to take American dollars this very minute in bed with the federal government lying as to how many loan modifications they have done and get to charge the American people through the Federal Gov. “No Oversight”. If the banks would use as much effort to refinance home owners at today's 30 year fixed interest rates 4.5% as they did pushing these Arm mortgages (made to fail loans) there wouldn't be a foreclosure crises The banks are making exponential insurance profits of the default of the made to fail mortgage The Government bails out the banks? and then gives the banks an additional 75 billion dollars to help the home owners giving money to the banking industry that already put the people of this nation in harms way via the foreclosure mill and the banks are finding ways to keep your money from you without helping the homeowner that is profiteering with the peoples money and no due process against the private banking industry for not helping home owners that's a travesty and against the fifth amendment. Then the banks claim losses and keep the money deduct it form there books claiming they modified a million mortgages but there is no one to verify it so we pay for there lies in a loss share agreement with the Federal government The banks give themselves millions of dollars in bonuses with our money again now that's a sweet setup Its one thing to use the money to actually help somebody keep there home doesn't make me happy but giving it back to the banking industry that started the problem to begin with that's outrageous. The fox is guarding the hen house.

We couldn't even persuade these same banks to work with us even after we bailed them out and financed the Hamp program with 75billion dollars plus incentives for servicers. There is a forecast of 13 million home owners to get foreclosed on during this administration. Those 13 million home owners have friends and family and coworkers that are directly affected, it's more like 190 million people being affected by his passive attitude towards his failed Hamp program. To the American people every thing is secondary to keeping their homes, not the war, banks, healthcare or foreign policy matters when your loved ones and friends have lost their homes.

Thirteen million foreclosures X fifteen people in each circle of trust equal 195million nothing will ever overcome the disappointment and dissent of the American people at having been deserted and abandoned in favor of the banking industry. Whole Families, fathers, sons, mothers, daughters, aunt, uncle's cousins, neighbor's co-workers the concept of six degrees of separation certainly applies because everyone knows someone with a mortgage problem and it has torn the fabric of this great nation and shaken it to the very core... Again to the American people every thing is secondary to their homes, not the war, banks, healthcare or foreign policy matters when your loved ones and friends have lost their home, how can one offer a helping hand to another country or person in the way of universal healthcare or disaster relief when you yourself are in dire straights and loosing your life savings your American dream.

Our fore fathers warned the American people about the banks and the federal government, being more dangerous to the Americans than a enemies standing army .Thirteen 13 million homeowner get foreclosed on while bailing out the bank that put them there” That's pure geniuses if you bailed out one you sure should have bailed out the other you did not give the banks a band aid for their hemorrhaging wound, well the home owners didn't even get a tissue to wipe their tears. Who set this up? The banks and government is who the fight is with. It is the same fight that brought our forefathers to this land. I think the American people need to put the fed Government on notice.

Heed the warnings of our Forefathers for it is upon us all.

Whereas, President John Adams in 1813 damned chartered banking as a giant swindle, a “Sacrifice of public and private interest to a few Aristocratical Friends and Favourites.”

Whereas, we the people are experiencing the results of which President Thomas Jefferson warned: “I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” Thomas Jefferson was 3rd President of U.S. (1743-1826)

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