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Why Securitization is illegal

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This is American, but all we have to do is a bit of homework, which I have done and shuffle a few things around,

At the end of the day its all about the books [accounting].

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  • doyla66
    doyla66 Monday, 03 September 2012

    Thanks, Lazza. I'll have to read that several times to get the detailed application. In principle, under international accounting standards, some of that could apply here as well.
    Is that how you read it?

  • Denise
    Denise Monday, 03 September 2012

    Thanks Lazza
    Would assist our readers if you could perhaps brief us on main points. Excellent find but your blog is sadly being sidestepped and yet I want readers to get the one line message and respond immediately.
    [email protected]

  • doyla66
    doyla66 Monday, 03 September 2012

    A summary from your knowledge of this information would be wonderful please Lazza.

  • doyla66
    doyla66 Tuesday, 04 September 2012

    Comples -it states: "It is all accounting. .offsetting of financial assets * liabilites. . the note is not under a negotiable instrument any more it is a security.. .all the banks follow these standards. . they set up GAAP 'generally accepted accounting principals'."

  • doyla66
    doyla66 Wednesday, 05 September 2012

    Thanks members I have been told by an forensic accountant that what is happening like in the enron case is, our LAF is deposited as a bank asset, now in banking they have a t account or general ledger where every deposit[which is an asset to bank] they have to equally offset that with a liability[meaning what they owe us] this is called double entry bookkeeping all banks and big business do it. In securitization they are allowed by APRA to transfer their liabilities off the books to somewhere else only leaving it show a debt they lent us, I hav more info so stay tuned.

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