While at the same time, these banks were placing short positions against these securities. Perfect example is Goldman Sacks who admitted internally that these securities were "shit" and were still pushing for cities and counties to put their pension funds into these securities. Complete fraud is what this is.
Coincidently, the other day, the DOJ dropped all charges of Fraud against Goldman Sacks due to a lack of evidence. Even though it was admitted to Congress what they were doing.
MF Global is another. John Corzine goes infront of Congress and tells them he does not know where the $1.6B in lost segregated accounts has gone. Well, the money has been found. Where? JP Morgan London. And those people that lost their money from the segrgated accounts, if luck, they may get 25% of it back.
As gerald Celente says, "Justice is spelled wrong. It should be spelled Just Us." Because that is the only people all laws apply too. Just us, not the so called "honorable" guys like John Corzine.