Isn't banking business lovely lately?

Homebanc and Countrywide and JP Morgan were the darlings last week.
Chapter 1s flying, being submitted at just before midnight last Thursday.
Now listen carefully to the set-up; it is complicated:
JP Morgan is the "lead" lender to the others, However JP Morgan belongs to a syndicate (Mafia?) who help take the risk, and somehow they all plan to divvy-up the contracts and by shenanigans with home prices, interest rates, and home buyers, all make money out of it!
Aren't banks lovely?
This false credit economy lasted at least 3 years too long!!!!
Maybe an invasion of Iran will divert attention?

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It's worse now!
Submitted by dollaradayandfound on Sun, 11/25/2007 - 9:45am.

We will hear more.

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