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America Needs an Independent Clearinghouse for OTC, CDS [View article]
Uniform Commercial Code Article 8 provided for the creation of “securities entitlements” or “placeholder securities” to credit to the brokerage account of the purchasers of securities that encountered delivery delays.
The shares were collateralized into debt as CDS's over and over till the companies went to zero in many cases. Whether to zero or significantly lower it is still fraud.!!
thesanitycheck.com/Blo...