lwtc247’s mad! What sub-prime hoax?

Manipoly –  A Popular game played in the global economy by the elite.

Mounting losses as $1 trillion in sub-prime mortgages goes bad[1]

Assuming US average House price = $307736 from early 2007 figures[2] (6% annual increase rise from 2003 figure [3]) And assuming morguage repayment costs double the purchase price therefore : $ 615472, then 1 trillion (1,000,000,000,000) US dollars covers 1,624,769 loans.

Are you tellimg me 1,624,769 loans were issued?-  not just loans but sub-prime loans?
And that ALL of them failed? – None of them were re-structured?
The bank repossessed all the houses? The Bank couldn’t resell any of them?
Sub prime lenders were given loands for AVERAGE house prices?
All tenents are evicted? (as would happen if the debt wasn’t restructured)

Audit the US (P.S. The EU has failed its finacial audit for the 13th time running)

Someone is wallowing in a lotta wonga!

[1] http://news.bbc.co.uk/2/hi/business/7086909.stm
[2] http://www.economagic.com/em-cgi/data.exe/cenc25/c25q07
[3] http://usgovinfo.about.com/od/consumerawareness/a/avghomeprice04.htm

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