Loading ...I did not read the whole story. But I took out parts below to comment on.
Parts:
While “The Big Short” bubble/bust wiped out the industry, the overseers walked away collectively with billions and no one went to jail other than a few scape- goated underlings. But like the survivors of a 7 year mortgage apocalypse cycle of feast or famine, those who made it are back are more corrupt than ever.
This mortgage origination program, which is disguised as a “business loan program” was sent to me by Citadel Capital, a relatively new and rapidly growing residential and commercial lender. Citadel Capital is part of the Citadel LLC hedge fund empire.
Comment:
To make a long story short. Our whole system has turned into a welfare system. For all we know Citadel LLC could be part of or created by the shadow invisible gov’t that was responsible for giving loans to under paid people who could not afford them.
Most of those people had no savings accounts, and could NEVER even qualify to rent an apartment, due to 2-3 months up front rent and a good credit check for the owner. Obviously real estate special interests, like banks (protecting themselves) and gov’ts (taxes and fees) were involved in promoting real estate sales, to over ride growing numbers people with inadequate incomes.
Wash rinse repeat. They’re just doing the same thing. You never know who owns what. A friend that worked Cargo at JFK told me that Evergreen was owned by the CIA. But my friend that worked for Evergreen Airlines would never admit it. Its only make believe monopoly money, so nothing really matters anymore.