Racial Penalties in Baltimore Mortgages (Oh, the Hugemanatee)

41 posted on 06/01/2015 3:49:47 PM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)

Yep—that’s a true, though the mortgage banks piled on by also fraudulently selling a lot of bad, bundled/securitized mortgages into the private market, too.

Absolutely true. now why did they bundle them together to securitize and sell them? To get rid of the financial burden the US Government was trying to force upon them.

Unintended Consequences 'n all that..

42 posted on 06/01/2015 6:25:54 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

To: usconservative

But the investment banks were stretching into the business because of the profit feast in mortgage securities. The government wasn’t forcing the likes of Goldman and Bear Stearns into the market.

43 posted on 06/01/2015 6:33:28 PM PDT by 9YearLurker

To: Dilbert San Diego

I see what you did there, using the insulting term for Barney Frank’s boyfriend. But you are literally correct in that description LOL.

I'm not sure because I generally don't pay attention to it, but I think that's the first post I've ever had removed here on FR, and I've been here since 1997.

Sheesh, calling Bawney Fwanks boyfriend a c***sucker who also ruined Fannie May isn't permitted anymore?

WHO KNEW?!

44 posted on 06/01/2015 6:36:54 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

But the investment banks were stretching into the business because of the profit feast in mortgage securities. The government wasn’t forcing the likes of Goldman and Bear Stearns into the market.

And then those "Investment Banks" went out and bought up a regional or "mom & pop" bank so they could then feast on the bailout!!!

I wonder how many people know that American Express got $800,000,000 in "bailout money" because they purchased a small two or three branch bank out east, and then used that $800,000,000 to cover bad credit card debt, in effect getting FREE MONEY to cover their outstanding credit card debt and collecting up to 23% interest from clients who were as little as one day late in paying their bill?

BTW, up until the VERY DAY the Fed stopped pumping $80 billion a month in the banking system, all the top 10 banks in the US were using FREE FED MONEY at 0% interest to cover outstanding credit card debt at anywhere from 17% - 23%.

That meant the top 10 banks were EASILY making 17% - 23% PURE PROFIT every month on their credit card services, thanks to you and I, the good old American taxpayer.

Feel ripped off yet?

45 posted on 06/01/2015 6:42:49 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

You are correct sir! You also should mention bow Rainbow Push and other groups extorted banks to make loans to unqualified minority borrowers. And the banking examiners looked the other way.

None other than Barack Obama himself sued a number of Chicago based banks extorting money from them. One bank, Avondale Financial which employed nearly 4,000 people went out of business because of Obama and a punitive Judge.

46 posted on 06/01/2015 6:45:00 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

To: usconservative

If I knew it, I’d forgot it—the corruption of the various levels of government never fails to astound me.

Cut out the corruption and then the waste—and we’d be halfway toward a government not to be ashamed of.

47 posted on 06/01/2015 9:51:11 PM PDT by 9YearLurker

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