“Once agin the crooked banks get a pass and the taxpayers get the shaft!”
GSE. The Dems don’t want us to look at Fannie and Freddie and the banks don’t really care, because when they were deregulated, they were given a license to steal. GSE.
We get the shaft from the Dems as far as I see it.
Not that the Banks are clean, but they did EXACTLY what the Dems wanted them to ... the Dems figured out a way to buy everyone a house with our money and watch us go broke doing it, but they never could have done it without the GSE move in the 90’s and the repeal of the regs that kept them from doing just this.
Shit, let someone leverage their assets 90-1, package garbage with a little good stuff and they WILL steal you blind. This was a good old fashioned gold rush - the Dems allowed the bundlers to “salt the mines” with a few nuggets and sell them all over the world.
They ALL screwed us, but the Socialists did it and want us to burn down the greedy bastrds that did their dirty work for them. They just played on the greed. That’s what they do. Then they whip “the little guy” into a frenzy of hate for the “fat cats” in power and step in to save us.
The DEms are running the same old socialist con, using the GSE as a vehicle. Bastards. GSE pimping bastards.
I bet that money came out of the board of directors’ pockets. Someone needs to go to jail.
The banks and other lending institutions were taken to court and forced to make bad loans. 0ur current president actually filed one of the cases. Janet Reno filed others. Leftist judges sided against the lending institutions and the rest is history.
Then when those loans went bad some folks who should know better, agreed with Obama & Barney Frank that this was all the greedy banks fault.
B.S.
Our money given to the banks who now give it to the government and they count it as paying back the loan.
Round and round it goes; where it stops, nobody knows.
Reand “The Big Short” by Michael Lewis.
Read “The Big Short” by Michael Lewis.
$2.8 billion is chump change in comparison to the damage BofA has inflicted upon US property laws and what they’ve recovered through securitizations and default title insurance payouts.
Largely put to rest claims that the bank sold them faulty loans.
Wow how much grease is flosting around on the east coast now days?.
ACORN Ping.