[Rich76_911s]

I see it like this.

Paulson and Goldman got together and put a 911 together. They went out and found the worst chassis they could find. Rust, accident damage, etc. Then they went and found a motor miester rebuilt engine and transmission that had been sitting in a barn for a decade to drop into it. Once they slapped a pile of bondo on it, spray some paint, and did some sneaky tricks to clean up the engine and transmission they put it on ebay with a PPI that says everything is awesome. The PPI was done by an independant shop. It sold and a week later the car broke and is worthless.

If a used car salesman pulled this kind of stunt and got caught he'd be fined and put out of business. But if you do it for a billion dollars and use mortgage backed securities somehow it falls under a completely different set of rules, and the hurdle for prosecution is set so high it is near impossible to be charged let alone attain a guilty verdict.

I believe investors come to the United States as a place to invest because they believe we regulate our markets and avoid fruad. Transactions like this simply devalue the United States as a place to invest.