MashGet

The Obama plan, to create and fund public-private partnerships to buy toxic loans and securitized assets not only will not work, but will be the final blow to a global economy bloated with derivatives that cannot be legally linked to the real estate they represent. The government's dirty little secret, which it has been suppressing for months, is that most adjustable rate mortgages were illegally securitized in the haste to convert toxic loans into fee-generating mortgage backed securities.