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.

via: tigerone1970

excerpt:

Millions of people go without basic services – running water and other utilities, healthcare, education, policing, because their governments do not have the money to pay for them.

.

.