Quoted Text

Obama To Use Pension Funds Of Ordinary Americans To Pay For Bank Mortgage “Settlement”
Monday, January 23, 2012 11:54

   "the bulk of the supposed settlement would come not in actual monies paid by the banks (the cash portion has been rumored at under $5 billion) but in credits given for mortgage modifications for principal modifications. There are numerous reasons why that stinks. The biggest is that servicers will be able to count modifying first mortgages that were securitized toward the total. Since one of the cardinal rules of finance is to use other people’s money rather than your own, this provision virtually guarantees that investor-owned mortgages will be the ones to be restructured. Why is this a bad idea? The banks are NOT required to write down the second mortgages that they have on their books. This reverses the contractual hierarchy that junior lienholders take losses before senior lenders. So this deal amounts to a transfer from pension funds and other fixed income investors to the banks, at the Administration’s instigation."....................>>>>..........................>>>>>.........................http://beforeitsnews.com/story.....gage_Settlement.html

The source?

The source???


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from all around the world.
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Not exactly Facts!

From the same source:
Before It's News®

~ Russians Documents Prove Alien Activity On Mars
~Alien Hunters: What If ET Ever Phones Our Home?
~Agenda 21: The End Of Western Civilization, It's The Reduction Of 85% Of The Global population

The alphabet networks have a monopoly on the facts.  Government propaganda doesn't like competing propaganda.  If the source address doesn't end in .GOV it isn't reliable.  

The national enquirer broke the story on John Edwards affair and child.  The alphabet networks CHOOSE not to report it.  I wonder why?

Before It's News® is a community of individuals who report on what's going on around them,
from all around the world.
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

Hey this is cool!  I want to try!!!

Ron Paul Wins the 2012 Presidential Election!!!

(Huh!  who'd a thunk it... Ya can just make it up as ya go along! )

Citizen journalists!!! 'Bout time!!! Clearly more reliable than the MSM!!!