Reply #10: Not sure what you mean by "mayhem"..

[dixiegrrrrl]

The messed up mortgage trail is/was profitable, since apparently pieces of the same mortgage
were in different bonds, thus the requirement that the actual mortgage itself be in each bond trust could not be met.
That is how I understand it from what I have read.
The exposure of all this is of great concern to the banks, because now the legality and tax status of the bond trusts are under scrutiny.
This is going to be very very expensive to straighten out, since the "value" of the http://gonzalolira.blogspot.com/2010/08/how-hyperinflation-will-happen.htmlbonds is much much greater than the value of the underlying mortgages now.
Reduced housing prices was not the plan. A fall in housing prices is the opposite of the plan.
That is why the housing bubble popping in the first place put the mortgage bonds in doubt,
thus Bernanke was trotted out to soothe everyone by saying
"the sub-prime problem in contained and will not spread" back in 2008.

4closurefraud dot org is a great site which contains the most information about this subject, I highly recommend it.

btw...did i mention that derivatives have also been created from student loans, car loans, credit card debt???
So bankruptcies are playing hell with those, too.

HR3808 was passed by unrecorded voice vote, so I have no idea how unanimous it was.
However, the fact the House and the Senate both passed it and got it to the President's desk very quickly
does say something.
It is worthy of note that the bill was introduced in April, which tells us the banks had reason to worry about the paper mess back then.

You are of course correct that "no one should" be able to buy up Congress.
There is "shoulda-woulda-coulda" and then there is....reality.