I wanted to include the most recent story on the housing bubble and it's inherent flaws and manipulations by market insiders.

What many individuals don't recognize is the seriousness of the fraud that existed inside of the banking institutions that securitized home mortgages. Often we get caught thinking of fraud being on the front end of the process, what many people haven't recognized is the level of deception, manipulation, and outright fraud that went on once the mortgage was signed and prepared for sale to investors. Manipulation, like in this article, is just a portion of what the banks have their hands in as if this wasn't enough on its own. This is a simple manipulation that went on for at least 3 yrs. Bribing friends and other institutional investors to purchase securities that the market no longer had an appetite for in order to put sales on paper to generate bonuses for themselves. By creating a false market and defying their own previously demanded mark to market pricing standard they continued to drive home prices higher for individuals for at least 3yrs after the market should have been indicating a stabilization if not a retraction from previous highs. Similar to Goldman's process of shorting their own collateralized obligations while simultaneously pushing them to their investors this type of market manipulation is not only unethical but illegal but I promise you that the individuals involved will not face consequences.

Imagine the numbers of homeowners that overpaid for their homes over the course of those years all because of the fraud taking place in the back rooms of some of our most trusted institutions.

It's things like this that make my job of finding legal recourse for homeowners so easy. I suppose between robo signing and creating new loan documents, manipulation of prices by securitization, and wrongful foreclosure and due process I should be thanking them.


http://www.msnbc.msn.com/id/40795080/ns/business/