By Karl Denninger
I don’t know.
Multiple people have told me this before.
Catherine Austin Fitts has talked about this for a long time. I get “whispers” all the time from people who I know actually are involved in securitization work related to this on occasion – and have for the last three years. We have the story from this morning from FDN talking about their software that has uncovered multiple sales of the same instruments.
But this….. if this is true it’s not just systemic, it’s not just common, it was the premise and basis of the entire securitization game – and “game” is the correct word for it, as the allegation made here is that the entire thing was a gigantic scam.
Continue reading the article . . .
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