Washington Mutual didn't have to go down in the Economic Crisis - So the Financial Terrorist Blew it up anyways

http://globaleconomicanalysis.blogspot.com/2010/04/mish-makes-senat...

Inquiring minds are digging extremely deep into a 666 page Senate hearing document on the financial crisis.

I am now part of the official record of the US Senate Permanent Subcommittee On Investigation Exhibits of the Wall Street and Financial Crisis, the Role of High Risk Home Loans published April 13, 2010.


Exhibit 51 starts is on pages 434-439 of the document.

The next several pages are screen snapshots from Evidence of "Walking Away" In WaMu Mortgage Pool written Saturday February 23, 2008.

Here are some of my comments at the time.
Let' do the math.
  • The total pool size is $513,969,100.
  • $476,069,000 was rated AAA.
  • 92.6% of this cesspool was rated AAA.
  • Yet 15% of the whole pool is in foreclosure or REO after a mere 8 months!
In addition, the data suggests that people are not even bothering to wait
for delinquencies to hit 90 days. Instead they are handing over the
keys right now.

Washington Mutual was the underwriter. If you bought a slice of this cesspool from WaMu, are you going to buy their
next offering? One final question: Does anyone have any reason to trust
any rating from Moody's, Fitch, and the S&P?
Those comments and various screen shots I posted (the entire blog post
actually) are now part of the official Senate investigation. It's too
bad they were not reading me in 2006 when I warned this would happen.

By the way, there is no way I would have found that reference on my own accord, but somehow a reader did.

Views: 84

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Doc Vega posted blog posts
1 hour ago
rlionhearted_3 posted photos
4 hours ago
rlionhearted_3 favorited Doc Vega's photo
4 hours ago
tjdavis posted a video

Alabama’s Biggest Secret - Operation Paperclip 🇺🇸

In the north of Alabama is the city of Huntsville. It's here where German scientists built NASA in secrecy after World War II. Operation Paperclip is still s...
7 hours ago
tjdavis posted a photo
9 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Cheeki kea always nice to her you chime in and you're damn right! "
23 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Les Prone thanks for your support Dude! "
23 hours ago
Doc Vega posted a photo

The inconvenient truth

Trump spells it out!
yesterday
Sandy posted a photo
yesterday
Less Prone favorited Doc Vega's blog post What Made the Founding Fathers of America so Brilliant?
yesterday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Motives of Joe, to shit in the well by showing totally irrelevant proof?"
yesterday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less, Motives of Wyatt or Joe? What archeologist wouldn't want proof of Jesus as part of his…"
yesterday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less Prone, Considering Joe Rogan to be the gatekeeper of anything is just short of ridiculous the…"
yesterday
Doc Vega posted a blog post
Tuesday
MAC posted a video

Don't Go To Hong Kong Now (Even on Connecting Flights)

Secure your privacy with Surfshark! Enter coupon code laowhy86 for an extra 3 months free at https://Surfshark.deals/laowhy86Article 23 in Hong Kong is real,...
Tuesday
cheeki kea commented on cheeki kea's video
Thumbnail

Terrorist Attack on Moscow - Ukraine Committing Suicide? | Larry C. Johnson

"...And I guess I'll just park this you tube here also for something to ponder from last year.…"
Tuesday
tjdavis posted photos
Tuesday
Less Prone posted a video

Climate: The Movie (The Cold Truth) NL

Deze nieuwe documentaire van de Britse filmmaker Martin Durkin toont aan dat klimaatalarm een verzonnen doembeeld is zonder enige wetenschappelijke basis. He...
Monday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"It can be true, but why isn't he offering real evidence? What are his motives?"
Monday
Less Prone favorited Doc Vega's blog post Americans You’re Being Squeezed Out!
Monday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted