Oregon PERS and Lone Star to Cash in on Foreclosures

While the Oregon legislature, including State Treasurer candidate Ben Westlund, was meeting to discuss mortgage reforms to prevent foreclosures on Jan 30, the same day Oregon PERS approved a $600 million investment in Lone Star, a highly successful forecloser. See actual brief clips from the meeting, including comments from John Grayken, CEO of Lonestar, who noted their strategy is to "play this situation with a focus on residential subprime," a key related strategy to aggressively go after the underlying collateral." He added that their purchases of distressed bank portfolios often gives them the rest of the bank for free, what he called "cream." Are you listening Ben Bernanke, Federal Reserve Chairman, and Henry Paulson, Secretary of the Treasury?

Category:

News & Politics

Tags:

• Ben
• Bernanke
• Henry
• Paulson
• Oregon
• PERS
• Richard
• Solomon
• Randall
• Edwards
• Lone
• Star
• John
• Grayken
• Westlund
• Bill
• Parish
• Portland
• Investment

[CosmosPrivateer]

We live in one Crazy place.

[thodal2000]

the audio is seriously crappy , got a transcript ?

[HollywoodSheen]

judges are seriously the shadiest people I think I've ever seen.

[1RoaringMonk]

11/21 2009 1340 views

[banjojambo]

isnt this a conflict of interest for judges? they throw you out of your house to feed their pension

[banjojambo9]

thanks bill

[jdcremin]

Difficult to hear. Anyway you add closed-captions?