As CEO of Lehman Dick Fold was in denial as everyone around him was telling him that things were going down the drain. Mr. Fold is a billionaire now and still feels that he did nothing wrong. The only person with a conscious in the group of key players is Larry Summers. He was the architect of the policies that got the country into the financial crisis. He will probably be the next Treasury Secretary for his second term. Hopefully he will continue to clear his conscious by giving back and getting back some of the $35 trillion that his policies have allowed the 1% to keep in offshore accounts for the past decade. Paulson made $1 billion betting against the sub-prime mortgages that he was in charge of liquidating as Chief Negotiator for Lehman as they went through bankruptcy. As Chief Negotiator for Lehman, Paulson used his position as Treasury Secretary to create the partnership between Deutsche, HSBC, GMAC MERS and Lehman. Courts in New York have determined that all transactions associated with MERS are illegal. This group of "key players" formed the "shadow inventory". MERS is owned by the same people who own the banks. Geithner orchestrated the bailout of the banks. The banks held properties off the market until Bernanke lowered the interest rates. When interest rates and property values could go no lower, these people began to use the $35 trillion that the Fed, the Treasury, the IRS and the Justice Department allowed them to keep in tax free offshore accounts, to buy the property using cash transactions. Now that these properties have been "cherry picked", interest rates are going up for the 99% who will be buying property using mortgages. Rents are going up too. Tomorrow the City of Richmond will find out if the case of "eminent domain" against the banks will fly. If the evidence that ajsanford-honestyproject.org is presented in court they will win and show that the 99% are victims of GOVERNMENT SANCTIONED RACKETEERING!
Posted on: Sun, 15 Sep 2013 18:16:47 +0000