Romney's Father introduced mortgage backed securities !Submitted by jlee2027 on Fri, 05/11/2012 - 17:18
Remember the housing crisis? Where no one knows who owns the title to your house because mortgages are chopped into tiny pieces and then sold into the market in a process known as Securitization.
And the whole thing collapsed into a heap in 2008, which led to the questioning of MERS and the current, still unresolved fiasco with tens of millions of vacant foreclosed homes across America. Well guess who introduced the government into this hideous process?
Yup, George Romney, father of Mitt Romney, back in 1970:
WASHINGTON, Feb. 19 (AP) The sale of the first Federally guaranteed securities issued by private enterprise to provide funds for housing construction was announced today by Secretary of Housing (under Nixon) George Romney.
I still don't know Mitt's plans for getting us out of the crisis his Father helped to start. Anyone?