So, with your line of logic, a preacher working part-time in a house of ill repute as a towel boy should be okay with his congregation....no problem, huh?
Another good ole boy from Georgia, Bob Barr, who purported to be upstanding, conservative, politically straight. When he got voted out of office, he went to work for the ACLU. Today, we learn that in addition to the F&Fs, Mr. Newt also dallied with Ethanol Lobby as a consultant......just keeps getting better and better.
You like your candidate; I once liked him and as he grew and progressed in his office in my district and I came to know more of him than I care to know. If you’re happy with philosophical, political and academic whooring around (I won’t mention his other talent), then fine....just stop with the tortured comparisons...
Buying and bundling mortgages, Gaffer, is what F&F does. Investment banks and some mortgage lenders themselves would also buy and bundle mortgages for sale or as securities.
Their crime, if it gets proven, is that they didn’t reveal to investors the number of risky mortgages they held.
Now, a house of ill repute ALWAYS sells sex. A mortgage bundler can be on the up and up. That activity is NOT illegal, unethical, or immoral.
In most cases, on a 30 year loan a lender is getting back a long-term known interest on investment of 5-8% or so not including their costs.
If you could buy my mortgage with money you had sitting around, and I paid you instead of the bank, you’d be getting a good interest rate for at least a decade while CD’s are only bringing about 2%.
Does buying that mortgage from the bank make you unethical?