Quisling: a synonym for traitor, someone who collaborates with the invaders of his country.
Posted on 08/13/2005 10:43:47 AM PDT by SC33
It is this reporter's opinion that we are now witnessing a new, lucrative game being played on the illegal alien front. Let's call it "banking on illegal immigrants" - American banks engaging in providing home loans to "undocumented" U.S. residents. The banking industry is opening its doors to a controversial new market: illegal aliens.
An increasing number of banks have discovered an untapped resource for growing their own revenue. As one participant puts it, "We are institutionalizing illegality." Indeed, in this business there is no distinction being made between those who follow the rules and those who break our laws by entering the country or overstaying their visas.
(Excerpt) Read more at newsmax.com ...
Yes, and they are doing it WITH YOUR MONEY. What happens if the U.S. restores obeying of immigration laws -- and throws illegals out of this country, as they should?
Lots of cheap houses owned by banks --
BTTT
And no, I don't want to hear arguments about "well, if we don't let people own property here, then we can't own it in their country! Waaaahhhh!". BFD. Like Mexico, want to own property there? Move there, and be Mexican. Go through the process. Same should apply here. Our families didn't fight and die so that the land could be handed over to aliens who have no right to be here.
"We are institutionalizing illegality." Indeed, in this business there is (NO DISTINCTION) being made between those who follow the rules and those who break our laws by entering the country or overstaying their visas.
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Sounds just like the Washington government to me...THE GOOD OLD DOUBLE STANDARD THAT IS APPLIED WHEN IT SUITS SOMEONE'S ONE WORLD AGENDA...
Maybe we bail out a few more "Savings and Loans" ie Silverado
Quisling: a synonym for traitor, someone who collaborates with the invaders of his country.
And who'll be asked to pick up the tab for their losses?
I've realized for a long time that the government and big business were setting us up to lose either way.
And people wonder why I see corporations as a very mixed bag.
ping
Mortgages for Illegal Aliens Encouraged by FDIC
excerpt:
"Openly adding to the growing list of illicit acts on behalf of illegal aliens are corporate entities and mid-sized businesses knowingly hiring illegal aliens without verification of proper documentation. Long gone are the days when we were told illegal workers were merely filling jobs as domestics in the home or doing the work of landscapers, as many decent blue collar jobs go directly to the illegal population now, bypassing hardworking Americans. And since no fines have ever been issued against any businesses hiring illegal aliens there is no impetus for any to stop, as they enjoy not having to pay benefits or guaranteeing work on a permanent basis."
"But while most Americans are at least peripherally aware of these unaddressed problems, many would be surprised how financial institutions are now bending over backwards to woo illegal aliens to become home owners. Until recently it was an unexposed policy, but banks across the nation have now put out the welcome mats in full force, through marketing campaigns."
Then there's this article originally published in the Wall Street Journal:
Illegal aliens getting home loans
excerpt:
"In the 1990s, Mitchell Bank’s old turf on Milwaukee’s South Side began to see an influx of Latino immigrants. James Maloney, the chairman of Mitchell Bank, saw the newcomers as a solution to the bank’s falling fortunes. Its assets fell to $60 million in 1999, from $95 million in the 1990s. Maloney decided in 2002 the bank should offer mortgages even to illegal immigrants, convinced that would revitalize the area."
"The move would be in line with a federal law, enforced by the FDIC, that requires banks to invest in the communities in which they gather deposits, according to the banker. Because most undocumented immigrants don’t have a credit history, the bank decided to consider utility, rent and overseas-remittance receipts in assessing their creditworthiness. A letter from a pastor was also welcome."
The New Conservative...Gordon Gecko meets Scarlot O'Hara
Exactly. It seems to me that lending to an illegal is inherently risky. There are some houses out my way where illegals live 20 to a house. If it blows up in their face, the Bank lobby will waahhhlll for a taxpayer funded bailout.
So much for separation between church and state.
Having lived in 6 foreign countries..I think we should allow foreign ownership of property in the US. But, only with countries citizens who grant the same exact reciprocal privileges. So Mexico would be out..lots would be out.
And if the folks asked to pick up the tab don't?
This illegal alien/corporate/goverment faction is setting a precedent. "If" you can't "control" it, just make it legal. Sooooo....
Yeah, I know. Sounds like a bloody mess anyway you go. But as an American citizen, I'm still left wondering which laws I can break with impunity.
I know exactly how you feel.
Now it is just a "business opportunity."
The only homes we should be providing for illegals should be in the airport of their respective countries.
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