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Updated over 15 years ago,
This thing's getting interesting,
This thing's getting interesting, and these are nothing but popcorn vs. the full-course meals in the freezer.
Did you see THIS little article? The swap-world just took a major hit, but most will not understand the ramifications for a while yet:
http://www.nytimes.com/2009/04/28/business/global/28muni.html?_r=2&partner=rss&emc=rss
This part was interesting - good old Hypo's still taking hits like
there's just no bright tomorrow coming:
"Depfa is a unit of Hypo Real Estate in Munich"
Germany & Italy - long-time allies who've wanted to kill each other
often. Germany just sent some aid to the earthquake victims in Italy - I think they got their Thank-You card today.
If found valid, this won't be a case about "profit", it'll be about
FIDUCIARY DUTIES, a phrase with which most Lenders and other
"Professionals" may one day become familiar (again).
Notice Italy's NOT taking the civil case route, but the criminal instead. That heightens the interest of the "professional", as it threatens almost everything near and dear to a professional criminal.
Oddly enough, when the gov't does a refi of 30MM to 38MM just to get an
additional 8MM they didn't need, then WE get to pay higher interest on
the total new bond, folks get kinda testy when some idiot points it out
in a few public meetings. When they've done it FOREVER without the
bright lights being focused on the FRAUD, it just gets more fun by the
minute.