This may be the biggest accounting fraud in history

[Dill]

(09-11-2019, 12:16 PM)oncemoreuntothejimbreech Wrote: Lastly, you see that bold part?  So you're point being the government bailed out the private lenders from making loans.  Loans that they wouldn't have made in the first place.  To summarize: you want me to believe the government bailed out lenders by preventing them from making loans they wouldn't have made.  That's F'n brilliant.  Except for the fact you've already mentioned these private lenders knowingly agreed to mortgages they knew would fail and Wall Street sold derivatives based on these bad loans IOT profit in the short term.  Leaving the taxpayers to bail them out. It was the single greatest redistribution of wealth from the poor and middle class to the wealthy ever in the history of the world. That was the greatest accounting scam ever. Bar none.

This.