Okay, they sold the paper. Isn’t that an option with loans?
I believe I have read this was a new ‘animal’ but was it? Do banks and lending institutions sell paper to other institutions on a regular basis?
Perhaps it’s the paper bundled to Wall Street that caused the most problems. I can’t honestly imagine the banking and lending industry being able to bundle and sell this paper to Wall Street firms without some government agency having to sign off on it.
If they could, that’s amazing.
See post 30.
OK so are you saying that if the government “signed off on it” that it should all now just be ignored? We shouldn’t look at things too closely now?