Tuesday, September 28, 2010

Karl Denninger - Market Ticker - Writes about MERS - Today He has Questions for the President of the U.S., Regarding MERS!

Karl Denninger of the Market Ticker, has written about MERS previously, today he has questions for Obama regarding MERS.

Questions 3 and 4 from article:

Question #3: If it is proved that (1) the securitizations were not proper in the first place, and (2) not only were they improper but they were knowingly put together with either actual knowledge or reckless disregard for this fact, will you force the banks that were involved in constructing these intentionally-defective instruments to eat them?
Question #4: Yes, I know that if you do what is asked in Question #3 the banks will all blow up.  Every one of them.  There is some $1 trillion of this bogus non-agency MBS trash out there.  I don't care.  Yes, I meant it when I asked if you would allow The American People some justice - just this once - from all the scams, frauds and schemes - even if it sinks your best friends on Wall Street!

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