We saw this coming for a bit now…
(Reuters) – The Internal Revenue Service has launched a review of the tax-exempt status of a widely-held form of mortgage-backed securities called REMICs.
The IRS confirmed to Reuters that the review comes in response to mounting evidence that banks violated tax requirements by mishandling the transfer of mortgages to REMICs, short for Real Estate Mortgage Conduits.
This is what I have been waiting for. The is the car chase in this movie.
I doubt if the IRS is going to do anything to cause the Banks/Federal Reserve System any problems. It just would not fit the program that the government has been on.