‘“The difficulties have been concentrated in ‘subprime’ loans, which generally go to borrowers with limited or damaged credit, although there is evidence that some borrowers are shifted into the subprime category because they are African-American or Hispanic,” said Rep. Barney Frank (D) of Massachusetts,....
What evidence, Barney??
Liberals always utter the most outrageous lies in walk-out lines.’
He must mean if you only look at some of the evidence— ignoring savings, credit histories, verifiable employment, etc.
it’s way worse than that....here in the southwest banks get snookered by professional gangbangers called 13 sumpthin....they wait til election times or some red lite alert to ....get this........create fake names,ss#’s, pay roll checks,credit cards w/ acutal working swipe magnetic strips, utility bills, and whatever to close the deal on HOMES, MOTORCYCLES , CARS<TRUCKS<SUV’S and all that paperwork is sent to the banks after the “buyer” has taken delivery of the purchase......
...about 60 % get away w/ it as the paperwork is so tight,no one is noticing.......