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Old 09-30-2008, 05:58 AM
 
7,020 posts, read 9,901,302 times
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Now U.S. banks routinely offer services to people without Social Security numbers by accepting the Mexican identification called matricula consular to open accounts. Some states—like Illinois and Wisconsin—even used millions of dollars in public funds to provide low-interest home loans for illegal immigrants with no credit history or documentation in the U.S.

The loan default rate among illegal immigrants is high because they are inherently unreliable, are prone to fraud and may be forced by circumstances to return to their home nation at any point, according to a congressman representing a state that operated a large mortgage fraud ring featuring hundreds of unqualified borrowers that used fake identities to get money.

The veteran Colorado Representative, Tom Tancredo, wants to assure that the bailout, set to pass this week, doesn’t offer incentives for illegal aliens. In a letter to his colleagues in Congress, Tancredo asked that safeguards be included on the bailout plan to verify the legal residency and identity of potential homebuyers. This will prevent illegal immigrants from obtaining federally backed home loans and assure that U.S. taxpayers are not absorbing their debts or bad loans made by banks to illegal aliens.

Could it be a coincidence that the area’s hardest hit by home foreclosures happen to be illegal immigrant sanctuaries like Las Vegas, large parts of southern and northern California and the famous Arizona sanctuary of Phoenix?


Bailout Could Help Illegal Immigrants | Judicial Watch

Our government and tax dollars at work. Golden showers anyone?. . . .
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Old 10-01-2008, 06:06 AM
 
Location: San Diego
32,820 posts, read 30,068,682 times
Reputation: 17698
Que the thread on hiring Illegals paid under the table tied to money laundering.
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Old 10-01-2008, 06:18 AM
 
12,870 posts, read 12,777,920 times
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these 2 threads, politics and immigration (actually it should be illegal immigration) should be intertwined because by switching back and forth we can see the financial cause and effect of illegal immigration by looking at the housing situation crisis and the crisis in our economy.
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