Goldman Sachs Is Up To No Good! – Bank Sells $5.7 Billion In Bad Mortgages

Goldman Sachs is up to no good again as they sell $5.7 billion in bad mortgages. What they are likely to do with these mortgages they got purchased from Fannie May is repackage them into mortgage backed securities.
They then sell them as collateralized debt obligations (CDOs) which they’ll give a ‘triple A’ rating as they did in 2008. Then they will insure it with a credit default swap (CDS) to ensure they won’t lose despite their continued failure.
First, let us explain what Collateralized Debt Obligations are:
When banks take mortgages and put them into a package and sell them to other people. Often a few of the mortgages are good, but they’re packaged with almost entirely bad mortgages in order to rate them at the two or three top loans but still profit from the terrible deals. Most of the mortgages are worth nothing.
Then they sell them off to a bunch of pension funds, usually government administrated.
In Norway there were a bunch of government pension funds that went bankrupt due to collateralized debt obligations which collapsed.
Then the banks go and insure them, they bet against their own investments which they created. They package them and sell them off. They don’t touch the loans themselves.
For more in depth information on ‘Mortgage Backed Securities’, ‘Credit Default Swaps’ and ‘Collateralized Debt Obligations’, please see our video titled ‘BLOCKCHAIN 2016′ with Stephen Kendal.

Since 2008 banks like Citi Bank have hired theologians to ensure “ethics” in their banks. This is all a big joke to make the surface appear more friendly as the banks continue to get publicly exposed. These banksters do not care about people. They only care about making as much money as humanly possible, enslaving people in debt, pushing them into servitude and thriving off the debt of the populace.
As author and economic analyst John Sneisen puts it,
“They have hired countless lawyers and have put aside a fund to fund all the fines they get from this corrupt activity. They own the Federal Reserve and they own your life if you have your money in these institutions. They only care about making money off of your money at any cost.”

Of course if your money is in a bank, it is not your money, it’s the bank’s. They make risky investments with your loaned money which can leave a person bankrupt. It’s also worth mentioning that most major banks have instituted “bail-in regimes” which empty depositors’ bank accounts in order to pay off their insane debts due to their insane risks.
Bail-ins have been implemented into the Federal budget in Canada under Prime Minister Justin Trudeau and have been utilized in Cyprus, Greece, in Austria and at the world’s oldest bank ‘Monte dei Paschi di Siena’ in Italy among others. According to documents World Alternative Media uncovered last year, bail-ins have been planned out for more than 20 years as 1997 Exchange Stabilization Fund papers prove.

John Sneisen and Josh Sigurdson quickly break down the insanity of the continued corrupt actions of the major banks like Goldman Sachs and J.P. Morgan.

Stay tuned for more from WAM!

Video edited by Josh Sigurdson

Josh Sigurdson
John Thore Stub Sneisen

Graphics by Bryan Foerster and Josh Sigurdson

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