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Oh, you must have missed George bush pushing mortgages for everyone. You must have missed him bragging about his success of home ownership being an all-time high. Add on to that Bush's "free money" program for college students. Why not just hand out loans and put the middle class in debt? Good idea. Bush was no better than Obama.
Yep, the Bush and Clinton Administration along with the Flaw Greenspan through both admins, and their side kicks Robbing Rubin, Tax Cheat Timmy, and Larry Summers were all for creating as many derivatives as possible and exporting this toxic crap on everyone else in the world until it blew up.
There are a few countries that came out unscathed from the financial global scam because they did not get involved.
There's only been one time in this nation where the stock market has failed the people. And we've been through dozens of recessions before and after that.
Sorry, don't trust it man.
The wars we are involved in right now, I believe have all to do with propping up the Petro Dollar.
With the Petro Dollar, you are able to steal from the rest of the world to keep the top elites living the standard of life they are, while everyone else is living pay check to pay check and many homeless that have never been before.
I hope the Petro Dollar Fails because I don't believe in theft either.
Oh, you must have missed George bush pushing mortgages for everyone. You must have missed him bragging about his success of home ownership being an all-time high. Add on to that Bush's "free money" program for college students. Why not just hand out loans and put the middle class in debt? Good idea. Bush was no better than Obama.
With the democrats lieing it is no wonder.. Barney Frank said all was good with Fannie and Freddie.. get educated..
Little did Bush know that the legislation was creating a building boom and everyone had a house built.. unemployed.. no problem.. they signed the dotted line and some bought two homes.. Some homes were never lived in because they were built to flip. Many who built a home never made the first payment.. Some people built a home , never paid the first mortgage payment and lived in the home for years till the overburdened banks could foreclose on it..
I know all about the foreclosure market.
I bought a house that was built to flip . It became an REO bank owned property after two years sitting empty. It was never lived in and the guy who built it was a foreigner. 36 thousand homes in one city in Fl was on the market at the time I bought mine.
With the democrats lieing it is no wonder.. Barney Frank said all was good with Fannie and Freddie.. get educated..
Little did Bush know that the legislation was creating a building boom and everyone had a house built.. unemployed.. no problem.. they signed the dotted line and some bought two homes.. Some homes were never lived in because they were built to flip. Many who built a home never made the first payment.. Some people built a home , never paid the first mortgage payment and lived in the home for years till the overburdened banks could foreclose on it..
I know all about the foreclosure market.
I bought a house that was built to flip . It became an REO bank owned property after two years sitting empty. It was never lived in and the guy who built it was a foreigner. 36 thousand homes in one city in Fl was on the market at the time I bought mine.
The policies responsible were drafted by the Bankers though.
Are all the top Wall Street Bankers Democrats?
Where were the massive number of house flippers, easy credit and liar loans prior to repealing of Glass Steagall and the creation of Credit Default Swaps that the Bankers were getting rich off of?
Yep, the Bush and Clinton Administration along with the Flaw Greenspan through both admins, and their side kicks Robbing Rubin, Tax Cheat Timmy, and Larry Summers were all for creating as many derivatives as possible and exporting this toxic crap on everyone else in the world until it blew up.
There are a few countries that came out unscathed from the financial global scam because they did not get involved.
Shadow banking had no rules , but the buyers were not forced into buying a home... Greenspan kept saying there was a mortgage bubble and it would burst, but Greenspan had no idea how bad it was.. he never anticipated the amount of foreclosures nor the falling of home values into a realm of collapse. Every bank lost not just the interest on the loan, they lost the principle.. the government is still buying up the toxic assets off the books of the banks... this is no way over.
The banks would give a builder 300 thousand dollars to a builder.. write out a mortgage and interest on the 300 thousand dollars and expect the buyer to pay the principle and interest on that mortgage.. they paid nothing.
The bank then forecloses on the property , sells the house for 100 thousand and loses 200 thousand principle and the interest.. millions of mortgages unpaid and the banks lost most of the principal too. Our government is also buying up toxic assets from banks and selling them at a huge loss on the taxpayers dime.. we are in deep trouble.
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