The federal government is quick to charge people with “securities fraud” for overstating the value of their stocks or other financial assets, or for not acting in a way that makes what the feds consider to be their “true value” known to the world. Yet, we see in this $700 billion “bailout” plan an attempt to artificially prop up the value of mortgage securities and to push the mortgage industry to start making more loans. The entire fiasco will be financed ultimately by the Federal Reserve System monetizing the debt that will be floated to purchase these mortgage securities at … Continue reading Securities Fraud?