More Toxic Paper: New Subprime Bonanza in the Housing Market | WHAT REALLY HAPPENED

More Toxic Paper: New Subprime Bonanza in the Housing Market

Whew. That was fast. It didn't take long for Wall Street to figure out how to game Obama's new mortgage modification program, did it? The plan was hyped as help for "struggling homeowners", but it turns out, it's just another stealth bailout for pudgy bank-execs. It's funny, the program hasn't even kicked in yet and, already, bigtime speculators are riffling through their filing cabinets looking any garbage paper they can find to dump on Uncle Sam.

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