The Subprime Conspiracy: Was there a plan to blow up the economy? By Mike Whitney : Information Clearing House - ICH

Under the category, "duh..."

The Subprime Conspiracy: Was there a plan to blow up the economy? By Mike Whitney : Information Clearing House - ICH

"Subrime" mortgages became possible - indeed, legally mandated - when Robert Rubin (of Goldman Sachs) was Secretary of the Treasury...under Clinton. Astsute individuals knew a screwing was coming. It was Clinton, after all.

Throughout the bush administration (and yes, the lower-case is deliberate - a manifestation of my opinion of that soon-to-be next-worst "president"), salesmen (called "mortgage brokers") sold mortgages to people they knew couldn't ultimately afford them, and then "sold" these mortgages (written on "flash" paper) to banks (who had to buy them by law, courtesy of Clinton/Rubin/Goldman Sachs).
The banks didn't want them (they knew it was "flash" paper), but they had to buy them by law, (courtesy of Clinton/Rubin/Goldman Sachs), so they packed them into boxes, and then "sold" the boxes to bigger banks (that didn't want them - they knew it was a box of "flash" paper), but they had to buy them by law, (courtesy of Clinton/Rubin/Goldman Sachs); so they packed the boxes onto pallets and sold the pallets to even bigger banks (that didn't want them - they knew they were pallets of boxes of "flash" paper), but they had to buy them by law, (courtesy of Clinton/Rubin/Goldman Sachs); so they packed the pallets into trucks and "sold" the trucks to even bigger banks (that didn't want them - they knew they were trucks full of pallets of boxes of "flash" paper), but they had to buy them by law, (courtesy of Clinton/Rubin/Goldman Sachs); so they called the trucks a fleet, and "sold" the fleet(s) to an even bigger bank (that actually DID want them - knowing they were fleets of trucks of pallets of boxes of "flash" paper), because (courtesy of Clinton/Rubin/Goldman Sachs) they could park the fleets of trucks of pallets of boxes of "flash" paper in a parking lot and "sell" shares of the parking lot to idiots called "investors".