[Exsubmariner]

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The FRB is up to their eyeballs in a huge scandal that includes Citigroup, Chase, HSBC, Bank of America, and many more major banks, plus, all the federal banking regulators, Federal Reserve, hence, the FRB had to help Citi in an attempt to keep the lid on.

The big scandal makes everything we have ever seen in the past look like child's play. To give you an idea of what that means, $915 Billion in current credit card asset backed securities on the street right now are fraudulent, and this is tiny compared to what's really going on.


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Wait a minute. Did I just read that right? You said banks have been selling credit card asset back securities that are fraudulent on the scale of trillions of dollars?

Could you please explain a couple of things in simple terms?

First what exactly is a credit card backed asset security? To me, that sounds like debt selling. You are selling someone the debt someone else holds on a credit card? To be fraudulent this must mean that the debts are false and the cards are held by dead people or people like me have a buttload more credit card debt than they know about??????