How Credit Default Swaps Became a Timebomb - Newsweek and The Daily Beast. Landmark Lawsuit by US Home Owners Implicates Obama and Big Banks in Massive Global Laundering Scheme. 5th May 2012 By Madison Ruppert Contributing Writer for Wake Up World A new lawsuit, which is bordering on the unbelievable, implicates the Obama administration and some of the world’s largest banks in the largest international money laundering case in history.
This global money laundering network was allegedly formed during the Obama administration and helped banks rob U.S. home owners through offshore affiliates in infamous tax havens and money laundering hubs like the Cayman Island, Isle of Man, Luxembourg and Malaysia. A press release published by Marketwatch (a website owned by the Wall Street Journal) via Marketwire on April 23, 2012, by America’s Spire Law Group, revealed that a mass tort action on behalf of home owners across the United States has been filed in the Supreme Court of New York, County of Kings. Subprime crisis explained. Anyone doing research into the 2008 subprime mortgage securities scandal inevitably comes across the Internet gem below.
Often titled “Derivative markets — an understandable explanation” but more commonly known by its first sentence — “Heidi is the proprietor of a bar in Detroit,” it appears to have been written in 2009 by an author with considerable understanding of financial markets and a great sense of humour. And it provides a good, basic explanation of the origins of the subprime mortgage securities crisis that led to a global credit freeze and the ongoing world-wide economic tsunami from which we may never fully recover.
Woman with Cerebral Palsy Arrested in Foreclosure Fight with Wells Fargo :