Summary by JW WIlliams
Patent attorney John Titus explains how Wall Street and banks caused the financial crisis in 2008 using bundled mortgage-backed securities as fraudulent collateral. He said that it was actually a coup d’etat against America and is treason.
In 2012, former President Obama tried to explain why not a single bank or Wall Street executive had been prosecuted when he claimed that some of the behavior on Wall Street was not illegal, so laws had to be changed, but this was a lie.
Titus explained that money is created when banks lend, but banks only lend against collateral as secured debt. He said that 5,000 mortgages worth $200,000 each created $1 billion in new money, but that money rested on zero collateral and coke dust. He said that the entire global crisis was caused by collateral fraud and insiders were well aware of the scheme. Alan Greenspan spilled the beans in a 2011 interview and admitted that there was rampant fraud and criminal activity on Wall Street, and that existing laws were violated and need to be enforced.
Titus said that former Attorney General Eric Holder and former Associate Attorney General Lanny Breuer were installed in top positions to prevent prosecution of bankers. Both were recruited from Covington and Burling law firm that represented the Big Banks.