Posted on 09/24/2008 7:21:17 AM PDT by kellynla
My syndicated column today tackles the bailout angle no one wants to talk about: Open borders and the home loan debacle. You’ve heard a lot about Fannie/Freddie and the minority lending shakedowns, but you haven’t heard most commentators/analysts on either the left or the right talk about the massive illegal alien mortgage racket — a topic I’ve reported on for the past five years. That’s because fault lies at the feet of the crime-enabling banking industry and the ethnic lobbyists and the illegal alien-enabling Bush administration.
They screwed us. Now, they want us to fork over a trillion dollars.
Screw them.
Kill this bailout.
(Excerpt) Read more at michellemalkin.com ...
Michelle is right. How many of us had to submit W2’s, citizenship info, tax returns, social security numbers, etc., to get a real mortgage? We worked hard for two years to build our house — I did wiring and am still finishing up the hardwood trim — and my husband and I are supposed to subsidize those who walk away from their obligations??
It's not just Bush at fault here.
Never forget the McCain-Kennedy shamnesty bill and its traitorous authors and cosponsors!
http://thomas.loc.gov/cgi-bin/bdquery/z?d109:SN01033:@@@P
S.1033
Title: A bill to improve border security and immigration.
Sponsor: Sen McCain, John [AZ] (introduced 5/12/2005)
Cosponsors:
Sen Brownback, Sam [KS] - 5/12/2005
Sen Chafee, Lincoln [RI] - 3/27/2006
Sen Graham, Lindsey [SC] - 5/12/2005
Sen Kennedy, Edward M. [MA] - 5/12/2005
Sen Kerry, John F. [MA] - 3/27/2006
Sen Lieberman, Joseph I. [CT] - 5/12/2005
Sen Martinez, Mel [FL] - 12/14/2005
Sen Obama, Barack [IL] - 12/14/2005
Sen Salazar, Ken [CO] - 5/12/2005
This lady has this nailed—so-called wetbacks and sweetheart deals for their homes.
These banks have been screwing hard-working people for a very long time. They have mercilessly bilked mom and pop depositors with predatory fees and given us the back of their hand. They have been lining their own pockets FAR TOO LONG.
I hope the entire banking system collapses. It has become nothing but organized crime to screw the middle class.
Who wants to save a bunch of merciless tyrants?
It's a system that SHOULD fail!
Good article, but isn’t this thread missing something....
I salute you for being the general contractor on a house building project. I briefly considered this when we built new in ‘02, but quickly gave it up because of the complexity and scheduling of subs. If my wife and I had tackled this, we’d be living in a tent right now.
“Like sweet, sweet Schnitzengiggle bier, Michelle’s bathwater, I would drink.”
Yoda
You’ll really love it when commerical bank auto, student and credit card debt is added to the package.
ping to some of TSN
forward to others if needed ...
Why do conservatives have to be so intellectually lazy?
Even the NYT acknowledges in 2003 that the Bush administration tried to implement limits on Fannie Mae and prevent this crisis.
No, its easier to blame Bush than to compel the public to really think about how 535 members of Congress work every day to undermine the general welfare.
Of course, this also helps the Obama campaign advance their election chances as well.
I think conservatives know what they are doing here and it is starting to make me really mad.
I hate having a democrat controlled congress because of tantrums like this in 2006. But I was told it was a valuable lesson for us all.
Now, I guess I am supposed to believe the same thing about an Obama Presidency.
No thanks.
...The supremacy of finance capital over all other forms of capital means the predominance of the rentier and of the financial oligarchy; it means that a small number of financially “powerful” states stand out among all the rest. The extent to which this process is going on may be judged from the statistics on emissions, i.e., the issue of all kinds of securities. - Vladimir Ilyich Lenin
Don't forget,these same banks that loaned out money to illegals,also lobbied for stricter bankruptcy control for US citizens,and for doubling the minimum interest rate on credit cards.Remember those long lines filing for bankruptcy during that time?Remember GW telling us that paying more to CC banks was good for us?
If I can get Michelle to come through on this deal, I seriously want to be one of "Them".
THE BILLIONS OF DOLLARS EARNED HERE AND NOT SPENT HERE, BUT SENT OUT IN REMITTANCES BY ILLEGALS HAS CONTRIBUTED TO THIS MESS ALSO.
Substantially increase by at least $440 billion, the financial commitment made by the government sponsored enterprises involved in the secondary mortgage market, specifically targeted toward the minority market;
Launching twenty-five different local initiatives across the nation, geared toward eliminating the specific homeownership barriers faced by minority families in those communities;
Raising $750 million in below-market-rate investments by 2007, which will work in collaboration with local homeownership initiatives and be targeted to heavily minority program areas;
Pursuing strategic partnerships in 20 top housing markets between homebuilders, lenders, local officials, and community leaders to develop approaches that address the local challenges to building homes for minority families living in urban centers;
Establishing faith-based housing partnerships between the participants and at least 100 churches, mosques, synagogues, and other faith-based institutions; 2
Aggressively developing new mortgage products so that conventional market alternatives are available to combat the predatory loan products that are disproportionately targeted to minorities;
Creating new mortgage products to meet the unique needs of recent immigrants;
Dramatically expanding financial education efforts for minorities, providing financial counseling to at least 380,000 minority families, and taking measures at the local level to reduce predatory lending; and
Establishing multilingual, consumer-oriented internet Web sites designed to help minorities overcome barriers to homeownership, including creation of a central data bank of affordable housing programs made available to real estate agents when working with clients.
One of the things I wish President Bush had done was to talk to us more. Many times he could have spoke up and stated “hey it’s not me. Talk to Congress” I guess he figured the public could see for themselves what was happening. Big mistake IMO.
You were very smart. Clint Eastwood said, “A man has got to know his limitations” and it’s a good rule. I’ve worked with a bunch of these “real estate investors” as a sub providing cabinets. They mostly don’t know what to do in what order and spent a whole lot of money re-doing stuff, especially stuff they got done on the cheap using illegals. Now they’re sitting on over-priced properties they can’t sell and many of these “big shots” owe me money they can’t pay. Screw them.
tsk, tsk......
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