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Bank of America has systematically ripped off almost everyone with whom it has a significant business relationship, cheating investors, insurers, depositors, homeowners, shareholders, pensioners and taxpayers.
Und es geht weiter in dem Stil. Taibbi nimmt keine Gefangenen.Wer sich jetzt denkt, oh nein, der wird doch Goldman Sachs jetzt nicht in Ruhe lassen?! Nein, keine Sorge, wird er nicht.
The main character in that tale was an individual named Jeffrey Verschleiser, a former Bear Stearns executive who was instrumental in helping blow up that venerable firm.
Der arbeitet jetzt bei Goldman Sachs. Hoffentlich macht er weiter wie bisher :-)Oh und einen hab ich noch:
By now we've come full circle. Banks create the loans, make money selling them off on the market at high prices, then come back and buy them again when they're low. When the GSEs are in the middle of this transaction, it makes mortgage lending a basically risk-free proposition: Banks get paid for creating home loans and they end up owning valuable property on the cheap, but in between, they offshore the market risk to a government entity and/or to the idiot individual who bought the home mortgage in the first place.
GSE = Government Sponsored Enterprise. (Danke, Vincent)