The Hidden Bailout Continues: How the FDIC is driving down home prices and quietly funneling tax-payer money to the banks.

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John99
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Joined: Aug 27 2009
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The Hidden Bailout Continues: How the FDIC is driving down home prices and quietly funneling tax-payer money to the banks.

Here is an interesting video. It explains FDIC's mechanism for selling the assets (mortgages) of failed banks to (supposedly) stronger banks taking over those assets.

When the sale happens the purchasing bank buys the mortgages for a discounted percentage of their 'full value', yet FDIC guarantees to cover 80%-90% of the losses on the resale of the mortgage or 'unwinding' of the mortgage (through property sale) of the original mortgage value.

Sound confusing? Have a watch, as its worth knowing another scam to f*&^ taxpayers and transfer money to the banksters.

http://www.thinkbigworksmall.com/mypage/player/tbws/23088/1287086

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