Mortgage/Foreclosure Scandal
Forest Gump Again Explains
Mortgage Backed Securities!
Below is a slightly revised leaflet we originally issued on Oct. 24, 2008. Since then the mortgage/foreclosure scandal has increased in magnitude by the same major Wall Street banks that created the financial crisis in 2008. Yet no one is being held accountable for this ongoing, illegal Ponzi scheme. Republican and Democrat administrations, Congress, and government regulators are all complicit in the crimes. No bankers or government officials have gone to jail for massive fraud, malfeasance, and shirking fiduciary duty. (See the new movie “Inside Job” for names and faces.) In fact, these banksters — robber barons of the 21st century — have received billions of dollars in bonuses and golden parachute retirement packages at tax payer expense.
Forrest says Mortgage Backed Securities are like boxes of chocolates. Criminals on Wall Street stole some chocolates from the boxes and replaced them with turds. Their criminal buddies rated these chocolates AAA Investment Grade chocolates. These boxes were then sold, repackaged, and resold all over the world to investors. Eventually somebody bites into a turd and discovers the crime. And there’s not just one, but lots of turds in lots of boxes. Suddenly nobody trusts American chocolates anymore worldwide.
Then Treasury Secretary, Hank Paulson, got American taxpayers to buy up and hold all these boxes of turd-infested chocolates for $700 billion dollars until the market for turds returned to normal. Well turds are still turds. Meanwhile Hank, his replacement Tim Geitner, and all their government and Wall Street buddy crooks who stole all the good chocolates in the first place are not being investigated , arrested, or indicted. Mama always said: “Sniff the chocolates first Forest.”
Jail the Wall Street & Washington Banksters!
Jobs & Housing Now! Foreclose the War Machine!
1. Mourn all victims of violence. 2. Reject war as a solution. 3. Defend civil liberties. 4. Oppose all discrimination, anti-Islamic, anti-Semitic, etc. 5. Seek peace through justice in Hawai`i and around the world.
Contact: Malu `Aina Center for Non-violent Education & Action P.O. Box AB Kurtistown, Hawai`i 96760.
Phone (808) 966-7622. Email ja@interpac.net http://www.malu-aina.org
Hilo Peace Vigil leaflet (Oct. 22, 2010 – 475th week) – Friday 3:30-5PM downtown Post Office
