[LomanBill]

Where's AIG and the derivative insurance element of the fraud?

 

That was a significant factor in manufacturing greater "Transactional distance".

Fannie Mae and Freddie Mac are issuers for most conforming mortgages. Investment banks primarily issue securities backed by subprime mortgages and other non-conforming mortgages.94Notably, investment banks that issue mortgage-backed securities do not sample loans or properties to verify the facts; they merely accept the paper offered to them by originators.95

Investors thought the non-conforming A$$Paper they were buying was "insured"... but in the end, it wasn't - except by tax payers who got left holding the "bail-out" bag.

 

 

[Neidermeyer]

AIG was used ,, the real key was GS, Lehman , Morgan Stanley et al getting the ratings agencies to play ball ,,, when they got that key part nailed down they went crazy throwing money at anybody.

[Chunga85]

ALL the players were aware of that fact. "Unjust Enrichment"? All your homes are belong to us! Fraudulent Docs Galore Just pull out the "Too Big to Fail" card and everything will work out just fine.