Posted on 04/24/2010 9:04:37 PM PDT by Free ThinkerNY
NBC Chicago: Following the collapse of his family's bank, Illinois Treasurer Alexi Giannoulias said he has renewed vigor to win President Barack Obama's old Senate seat.
The Democrat's voice cracked with emotion as he talked Friday about the collapse of Broadway Bank, which was heavy into real estate loans and lost $75 million last year.
Giannoulias said nobody could have foreseen the real estate collapse.
(Excerpt) Read more at breitbart.tv ...
“Giannoulias said nobody could have foreseen the real estate collapse.”
Aha but they could... When you loan money to people who can not possibly repay it, you have to expect a collapse.
These are the ties that bind.
But they could, AND THEY DID....
I’ve been reading articles warning that MASSIVE MORTGAGE FRAUD was undermining the CDO’s since AT LEAST 2003.
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