We gave people with horrible credit loans who never had any intention of paying them back.
Posted on 05/24/2016 5:28:55 PM PDT by blueyon
A very good outline. More emphasis should be placed on the race-based loans that African lawyers and assorted race pimps forced lending organizations to make to unqualified minorities. This accounted for less than 5% of the loans but was still enough to bring down the financial house. The old media concocted the lies placing blame on the lending institutions and people sucked it up like pus through a straw.
on this particular quote (if she said it) I agree with Hillary.
If that’s the case then the Banks sure changed their philosophy since I first bought my home,they refused my mortgage application unless I could come up with an additional 10 dollars a week in my paycheck.
So the question I have is what happened to bank management that made them ok these risky loans,which in turn made them insure themselves against the sure to come failures,then the insurers to insure themselves against the known failures to come,etc,etc etc. Then Boom!
The only entity not being held responsible is the main culprit in the whole catastrophy,The stinking lying frauds in the Government.
There is a you tube video showing Housing Secretary Cuomo announcing this disastrous risky loan government program and actually saying this is going to cause more defaults but they will be manageable,Bill Clinton is standing behind him,Trump should get that video and play it 24/7,when Hillary brags,about her husband’s handling of the economy
Spread it around, to every blog, on Yahoo, Twitter, everywhere!
That happened a LOT here in the Chicago area. I know bankers who knew this was going on, they told me so, my banker for 30 years told me so, but they were able to sell off those loans to Fannie & Freddie easily, so it didn’t bother them.
It was common knowledge, common practice, and commonly encouraged. Not only that, they were penalized if they did NOT make these loans.
So, they shut up, made the high risk loan, sold them off in a bundle, and pop goes the bubble.
But, the put salt on the wound, around here, when they went back to Mexico, they took all the copper they could out of the house to use for gas money. The houses were gutted of the mechanicals and electricals, and many still sit empty years after foreclosure, killing the property values of those around them.
We gave people with horrible credit loans who never had any intention of paying them back.
Liz, you are a priceless resource.
Thank you for your research.
How sweet.
LOL you are so right
Okay, lets have an honest debate. I am the last person to vote for Hillary - in fact you would have to shoot med, and use my ballot. But what she said was correct. The buyers borrowed more money than they could afford, without a track history of employment to sustain long-term payments. Are we that political to call her on the carpet (from which she munches) solely because she is the other side? For cripes sakes, this administration is going back to the same policies that brought about this mess. Can we at least be honest enough to rebuke what caused the bubble?
Now we can understand Obama’s takeover of the Internet and why the FCC and the FEC wish to regulate social media when it comes to elections.
Trump doesn’t need a huge traditional media spend. He doesn’t need the MSM to help him.
He can now plaster this Hilliary video all over the place.
The Dems won’t allow another election cycle like this one. The free flow will slowly become regulated. And the idiot republicans will help.
Sometimes I think George Bush really is dumb. He lets a democrat Treasury Secretary, that he appointed, come up with the figure of $700 billion and says “Okay, I trust you.” And later the public is told the secretary pulled the number out of thin air. Then nobody knows where the money went PLUS we find out it’s in the trillions.
This proves to me that both parties of elitists work hand in hand. I so hope Trump is for real. Then again, I have to believe that if he is for real they’ll never let him win.
Note: this topic is from 05/24/2016. Thanks blueyon.
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