In both cases — housing prices and CDO/CMO prices, there was no intervening factor that caused the decline. No meteor hit the earth, no world war broke out, no material event occurred to account for these changes. It is therefore impossible to come to any conclusion except that the fair market values of the houses […]

Tags: Federal reserve, junk, Lehman, Ponzi, Wall Street Journal, WSJ Freedom
Posted in bubble, Corruption, securities fraud |