ever wonder why the insurance companies are being bailed out?
when aig was bailed,they were worth 12.5 billion. so why does an insurance company need to be 100 times the size it was? 1.4T SO FAR,AND MORE TO
i'll do this in as short a story as i can...fasten your seatbelt.
in 2005,2006,2007,subprime loans were made to people that could not afford them. this was due to deregulation.
2005 defaults just hit,2006 comes this year,and 2007 was called a mortgage orgy of unbelievvable proportions.
the people that made these loans knew, who was probably going to fail ,and who was not.
so what they did ,was took out insurance on the most likely to fail.
say that 20 of your friends get this info too,they also can take out insurance on the same house and others.
these are called morgage defalt swaps. its the same as gambling.
if 20 of your friends insure a house that defaults,say the house was mortgaged for 100,000,each one gets 100,000 dollars.
now the insurance companies owe $2,000,000 to the 20 people on one bad loan.
now... remember all the toxic paper that was sold to investors around the world? well the foriegn investors got pissed ,and the dollar started to
this paper was bought back at pennies on the dollar,and insured here
,to raise the price of the dollar. restore faith in the currency in foreign
well the insurance companies couldn't possibly pay off all the winners in the mortgage lottery.HENCE THE BAILOUTSTO THE INS CO'S
now we've had the first round of bailouts,and the money goes right into the pockets of the insiders that knew who to bet on, by way of the insurance
THE MONEY HAS NOW BEEN LAUNDERED.THIS IS WHY THE INS CO'S NEED ALL THIS MONEY.ITS A CIRCLE JERK.
THIS IS THE SHORT FORM,BUT IF YOU LOOK IT UP AND DO YOUR HOMEWORK, you will find out that we have been screwed so bad,we should have all got a
think about it. why are we bailing out INSURANCE companies,with no responsibility to account for where its going?
and then we LOANED the money to the auto industry,an industry that returns something to the economy.
what do insurance companies return to the economy.NOTHING!!
AND THE JOKE IS ON US. WE NOW OWE IT TO THE FEDERAL RESERVE!!!
and the best part is,that the worse they make the economy,the more defaults occur!!! lucky them. what a surprise!
this is why gold has stalled in a bad economy. it's usually the safe haven,but the boys on wall street,and your federal government have found an
investment that dwarfs the metal.
here comes the next bailout at almost another billion. there will be more this year to match the cashout,and as for next year????? OH BABY!!!!!!!!
now i have read that the total will be over 5.7 trillion dollars
NOW WITH HR 45 THEY WANT TO TAKE YOUR GUNS,to protect themselves when everone figures it out.
there's a signature on this site, and it really rings true...the final step of a dying government,is to loot the treasury on the way out the back
(visit the link for the full news article)
what will we do if this is provable
HR 45WILL=HOUSE RUNNING AT 45 MPH
[edit on 27-1-2009 by Spectre0o0]