Those mortgages all have an address. And the dirty little secret that all the power brokers from the White House down to your local bank won't tell you is that all too many of those addresses are the residences of illegal aliens who banks and mortgage lenders have snuggled up to in order to get the hispanic business and the profits from the high interest rates.
Check out these loans and you will find a lot have no SS number or a fake one, or just a tax number, and they have multiple unrelated names to qualify for the predatory loans. If you cross check, you will find those same names or SS numbers show up on multiple mortgages. There are plenty of studies showing that these loans are going to minorities. A map of the areas with highest default rates closely matches the enclaves of illegal aliens.
This game is going to play out real bad and a lot of fingers will be pointing to escape the blame themselves. Nobody will go to jail, but we taxpayers are going to pay horribly for the bailout, bigger than the S&L one of the 80's. And the word won't get out until after amnesty is passed.
I guess you could say "they're doing the foreclosures Americans won't do"
Nothing a class-action lawsuit against lending institutions can't fix. There is a monopoly here in L.A. of also owning construction companies. It can work out this way. It is a slavery system. They own the places that a bunch of illegal aliens live in so that they work on the cheap and live like rats. Like a concentration camp.
There are billionaires and everything they own that can be taken down in this way. With discovery.
The economic points you have posted are ones which can not be ignored.