Wednesday, October 13, 2010

October Surprise = Ponzi Housing Market?

Well, well, well. In just a short sweet week or so things are suddenly different now in the housing market! The main stream media can no longer sweep the problem under the rug and convince everyone that the foreclosure crisis is just a "paperwork" problem.

Foreclosuregate is about covering up the original crime. It's actually about systemic fraud. Fraudulent mortgage brokers, fraudulent appraisers, fraudulent underwriters, and fraudulent securitization of mortgages via the Wall St/DC cartell. Quantity was pure profit. Quality? That was just someone else's problem somewhere down the line. Hello taxpayers! Ye be haunted by quantity...

The big question is: "Who's gonna end up paying for this mess?"

Let's do a short recap of what's happened in the last week or so:

And last, but certainly not least, we have Oregon stuck right smack dab in the middle of this giant forclosure/mortgage fraud mess! Hang on to your hats Portland, the wheels are coming off and the bottom feels like a long long way down from here.