Crisis=Bush windfall?
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| Wed, 10-15-2008 - 12:46am |
Apparently the Bush family is friends of Texas billionaire, Robert Bass, who set up the Lone Star Funds in the 1990s.
How much do the Bush's have invested in the Lone Star Funds? No one knows--they are private entities and don't have to disclose who their investors are. But the Bush connections make it likely they have good $$ invested with their friends.
Lone Star Funds bought CDOs from Merrill Lynch for 22 cents on the dollar. If they foreclose on the properties at an amount =>1/3 of the stated value, they'll make at least a $1.5 billion profit. NO NEED TO RENEGOTIATE MTGS TO TRY TO KEEP PEOPLE IN THEIR HOMES. Just grab the profit for the investors, and to hell with whoever occupies the properties!
Financial crisis? Naaaaaa....Bushy has a cushy job!
http://www.huffingtonpost.com/leah-mcelrath-renna/is-bush-profiting-from-th_b_129205.html
