Wall St Week Ahead: "Cliff" worries may drive tax selling

Comments (1)
CharlesReed wrote:

My question is now much a Ginnie Mae mortgage backed securities cost taxpayer that we know for a fact that they have absolutely no underlying collateral?

How does a system that develop by the federal in the HAMP program to modify loans, instead Ginnie Mae arranges for 800,000 loan to be foreclosed? What up with defrauding your alleged collateral which were very own regulation says you cannot purchase or sell a home mortgage loan and the law says under UCC 9 the holder of the blank Note has the burden of proof that they purchase the debt. However we know for a fact Ginnie Mae cannot purchase the Note debt.

We are due as taxpayer in this scheme a total of $264 billion. How does it effect stocks that $1.1 trillion MBS program is a big ole Ponzi?

Dec 09, 2012 4:10pm EST  --  Report as abuse
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