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Henry Blodget Doesn't Think Banks Did Anything Illegal. Wrong!!!


By bgamall4   Follow   Sat, 26 Jan 2013, 12:09pm PST   160 views   0 comments
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http://say-no-to-recourse-loans.blogspot.com/2013/01/henry-blodget-doesnt-think-banks-did.html I analyze his comment to his article, and the comments that were opposing his point of view, with almost unanimous concent. The criminal activity was on the securities end, IMO. I believe, though they remain innocent until proven guilty, that the banks committed securities fraud when they allowed bogus CDO's to be spread far and wide, and that the set up was at Basel 2 when they adopted a probability formula, the Gaussian Copula, that assumed all mortgages could not go bad at the same time. This was clearly fraud. It caused RICO and continual fraud as these CDO's were spread the world over. My hope is that Henry will take another look at this issue.

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