reply to post by skuly
I don’t understand how he made the dead banker list.
According to his resume on the Zero Hedge page he hadn’t been in banking since 1990. The investigation had to do with the title company he ran.
Guess this is the place for a bad joke about getting nailed, but I’ll not be the one to do it.
The zero hedge snippet is pointing a pretty big assumptive finger at the 'why he made the list' question.
data(from zero hedge) : he (claims to have) worked in investment banking in both New York and Chicago , he had MULTIPLE (investment/title insurance)
companies, he was contract manager for the U.S. department of housing and urban development ( for all HUD contracts in THE STATE OF COLORADO ),
honesty was, at least on one occasion not his forte' .
It's the Bit about being a title insurance agency ...
...the closing agent for all of HUD's foreclosures in the state of Colorado...
...and under investigation that close the loop
Let's assume, for #s and giggles, that he has/had all those companies then and now for the same reason low level drug dealers have multiple cell
phones; because they want to move information/assets around in a way that is hard to track ( from a regulatory point of view) , implying that his MAIN
purpose ( that he was probably groomed for in NY or Chicago) was making sure real-estate investment assets were "managed" in such a way as to keep
them off the NORMAL investment regulations by making multiple back and forth transactions ( oscillations ) in a manner timely enough to make a toxic
asset package look legitimate for as long as possible ( this is both a way of money laundering AND hiding massive investment losses for years )
Now look at the HUD connection: HUD properties ( as investment vehicles) are suppose to be sold at market value though they are almost always worth
far less because of the low income neighbor hoods or severely distressed condition ( some times they have already been completely demolished like in
So...let's say our HUD approved title insurer is moving or listing as insured, these HUD properties around as assets ( for investors )at market value
when they either don't exist or are at far below market value our little buddy here becomes the mule and scapegoat for one arm of the GIGANTIC
Shadow banking system
The shadow banking system is so called because it operates by loaning money and investing in unsecured , unregulated and totally uninsured ventures,
hence Hud and unscrupulous title insurers become perfect vehicles for "legitimizing" or 'solidifying' the perception of asset value when there is in
The SBS is currently estimated to be worth over 100 TRILLION dollars which means that there are 100 TRILLION
unsecured , uninsured dollars out there that could stop existing at any moment.
Since one dude in Colorado is not moving 100 trillion in a year that means the SBS needs thousands if not hundreds of thousands of 'guys' like him.
If he gets into court certain records go public, the tip of the ice berg is revealed , etc etc ....
the only thing is this nail gun method is way too blatant, stupidly so ...I would say a bad novelist using foreshadowing poorly
edit on 9-2-2014 by Silverlok because: bad writing and whom the hell are the shadow bakers?