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phoney losses ... If "THEY" lost it, who has it? -- 6% fixed is 580% variable, part 2

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posted on Jun, 13 2008 @ 03:40 PM
My question is, if all these slimy mortgage banks lost the money, where did it go? -- who got it?

As was point out by an ATS reply at 'NO ONE! will believe you about the No. 1 NWO bank conspiracy – 6% fixed rate mortgage is really a 580% variable mortgage',
-- that with fractional banking the banks lend out ten times the amount of money they received at interest. Therefore, what is lost is not the money that doesn't exist (debt financing) but the compound interest (which also doesn't exist).

Of note, March 14 2008, from

Citigroup: $18bn
Merrill Lynch: $14.1bn
UBS: $13.5bn
Morgan Stanley $9.4bn
HSBC: $3.4bn
Bear Stearns: $3.2bn
Deutsche Bank: $3.2bn
Bank of America: $3bn
Barclays: $2.6bn
Royal Bank of Scotland: $2.6bn
Freddie Mac: $2bn
JP Morgan Chase: $3.2bn
Credit Suisse: $1bn
Wachovia: $1.1bn
IKB: $2.6bn
Paribas: $197m
Source: Company reports

Fannie Mae, the giant mortgage finance company, faces much bigger losses from interest rate swings than it has publicly disclosed, according to computer models used by the company to estimate the value of its assets and debts.

the market value of all the assets on Fannie Mae's books, minus all the company's debts, was about $15 billion. So it would have lost roughly half its market value from such a sharp increase in interest rates, according to the models.

With $923 billion in assets, Fannie Mae is the second-largest financial company in the United States, trailing only Citigroup. Fannie Mae, which is sponsored by the federal government, helps keep mortgage rates down by buying mortgages from banks and selling them or its own bonds to investors around the world. But some investors and outside experts say the company has become dangerously large and highly leveraged, with too much debt and not enough equity.

The models were provided to The Times by a former Fannie Mae employee, in return for assurance that he not be identified.

[edit on 13-6-2008 by counterterrorist]

posted on Jun, 13 2008 @ 04:08 PM
It was never there to begin with. The banks were writing and giving people mortgages with a fever pace.So the question should be....who should be held accountable? The banks that gave out the mortgages or the people who took them and bought extravagant homes which not thinking could barley afford the utilities much less the mortgage payments.In my opinion they are both to blame and guess what; guess who gets to pay for all of someone else's blunder? Thats right we do! Many of us that did not fall into these mortgage failures and have always paid their mortgages on time will be the ones to pay for all of the mistakes made here.

To make matters worse many of the banks are writing off many of these home owners mortgage debt and they are getting to keep their over sized over priced homes!!!!! Not fair to many of us honest working people.

[edit on 05/16/2008 by CaptGizmo]

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