Topic: Mortgage Bonds

1 chapters across the catalog

China reportedly used its trade surplus to buy one-third of U.S. commercial properties and massive amounts of Fannie Mae mortgage bonds by the late 2000s. Dr. Jim Willie argues that China's decision to sell these bonds in 2005 triggered the 2008 financial crisis, leading to the "murder" of Bear Stearns and Lehman Brothers. He identifies J.P. Morgan, Goldman Sachs, and BlackRock as the top "criminal banking enterprises" in the United States.