Article - the real story is fraud

A couple of articles which highlight the fraud aspect which seems to be a cornerstone of the whole economic shambles unfolding.

MORTGAGE MELTDOWN Sean Olender, Sunday, December 9, 2007

Interest rate 'freeze' - the real story is fraud - Bankers pay lip service to families while scurrying to avert suits, prison.

“The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth.”

and Kunstler about the announced Bail-out package and what a sham that is. (scroll down left of page) Dec 10, 2007 - SPIRIT OF THE SEASON "the Hope Now Alliance is just a political sham. The purpose of it is not to save the hapless occupants of over-leveraged houses, but first to buy a little more time so that the worker bees in the financial industry can justify awarding each other multi-million-dollar Christmas bonus packages, and second, to postpone the "workout" of all this bad investment as far into the future as possible.