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We, as taxpayers, are being forced to pay for the greed of the elite. They didn’t worry about authorizing loans to people illegally residing in this country, because they would subsequently sell those loans. They were only concerned with lining their pockets.
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AS panicked politicians prepare to fork over $1 trillion in taxpayer funding to rescue Wall Street, they've fingered regulation, deregulation, Fannie Mae and Freddie Mac, the Community Reinvestment Act, Jimmy Carter, Bill Clinton, both Bushes, greedy banks, greedy borrowers, greedy short-sellers and minority-home-ownership promoters for blame.
But there's one villain that has slipped notice: how illegal immigration, crime-enabling banks and open-borders Bush policies fueled the mortgage crisis. It's no coincidence that the areas hardest hit by the foreclosure wave - Loudoun County, Va., California's Inland Empire, Stockton and San Joaquin Valley, and Las Vegas and Phoenix - also happen to be some of the nation's largest illegal alien sanctuaries. Half of the mortgages to Hispanics are subprime. A quarter of all those subprime loans are in default and foreclosure.
The Washington Post noted in 2005: "Hispanics, the nation's fastest-growing major ethnic or racial group, have been courted aggressively by real-estate agents, mortgage brokers and programs for first-time buyers that offer help with closing costs. Ads proclaim: "Sin verificacion de ingresos! Sin verificacion de documento!" - which loosely translates as, 'Income tax forms are not required, nor are immigration papers.' "
If we as taxpayers are going to be forced by our government to bail out any institution-bank or otherwise, then I think if you gave mortgages to illegal aliens-you should not get a bailout. I think if a bank advertised in Spanish "no immigration papers" that is proof enough for me that they sought out illegal alien business and should not get a dime.
We, as taxpayers, are being forced to pay for the greed of the elite. They didn’t worry about authorizing loans to people illegally residing in this country, because they would subsequently sell those loans. They were only concerned with lining their pockets.
You would have to be living under a rock to not know the what was behind the deliberate intentions of granting "undocumented" loans. The last thing Wall Street wants is a congressional investigation into the details surrounding the current financial collapse. They actually thought that fear of market collapse would convince the do nothing Congress to live up to it's name and stay up late into the night printing the 770 billion and hand it over with no questions asked.
OOps . . .It will be interesting to see how many arrests comes out of the FBI investigations.
If we as taxpayers are going to be forced by our government to bail out any institution-bank or otherwise, then I think if you gave mortgages to illegal aliens-you should not get a bailout. I think if a bank advertised in Spanish "no immigration papers" that is proof enough for me that they sought out illegal alien business and should not get a dime.
Nicolem
I strongly suspect as this investigation deepens that many an illegal immigrant home owner will be dispossessed. Although many of said illegals will wind up putting their property into the names of people who are here in the USA legally.
If we as taxpayers are going to be forced by our government to bail out any institution-bank or otherwise, then I think if you gave mortgages to illegal aliens-you should not get a bailout. I think if a bank advertised in Spanish "no immigration papers" that is proof enough for me that they sought out illegal alien business and should not get a dime.
Nicolem
Bank of the Alien (formerly known as Bank of America), Wells Fargo and Countrywide were notorious for granting loans to illegals. Surprising Wells Fargo is not part of the FBI investigation YET. I have no doubt that crooks from the other two will be part of a long line of perp walks.
Bank of the Alien (formerly known as Bank of America), Wells Fargo and Countrywide were notorious for granting loans to illegals. Surprising Wells Fargo is not part of the FBI investigation YET. I have no doubt that crooks from the other two will be part of a long line of perp walks.
I know. If only our politicians had American's best interests at hand. If there has to be a bailout, the very least our politicians should require is that these banks/mortgage companies abide by the law. We are now going to pay AGAIN for illegal aliens by bailing out banks who gave them mortgages.
For those people out there who still think illegal aliens do not cause damage to this country-open your eyes. They are indeed a part of this housing/mortgage fiasco. Illegal aliens, their enablers and their actions effect our economics in so many ways in this country and not in anyway positive. Now more than ever we need to send them all packing and use all our resources for Americans and to get our country back on track.
Bank of the Alien (formerly known as Bank of America), Wells Fargo and Countrywide were notorious for granting loans to illegals. Surprising Wells Fargo is not part of the FBI investigation YET. I have no doubt that crooks from the other two will be part of a long line of perp walks.
It will indeed be interesting to watch this investigation unfold. No doubt, bribes are being offered at this very moment.
I know. If only our politicians had American's best interests at hand. If there has to be a bailout, the very least our politicians should require is that these banks/mortgage companies abide by the law. We are now going to pay AGAIN for illegal aliens by bailing out banks who gave them mortgages.
For those people out there who still think illegal aliens do not cause damage to this country-open your eyes. They are indeed a part of this housing/mortgage fiasco. Illegal aliens, their enablers and their actions effect our economics in so many ways in this country and not in anyway positive. Now more than ever we need to send them all packing and use all our resources for Americans and to get our country back on track.
I know. If only our politicians had American's best interests at hand. If there has to be a bailout, the very least our politicians should require is that these banks/mortgage companies abide by the law. We are now going to pay AGAIN for illegal aliens by bailing out banks who gave them mortgages.
For those people out there who still think illegal aliens do not cause damage to this country-open your eyes. They are indeed a part of this housing/mortgage fiasco. Illegal aliens, their enablers and their actions effect our economics in so many ways in this country and not in anyway positive. Now more than ever we need to send them all packing and use all our resources for Americans and to get our country back on track.
Agreed. The election has set the ground rules in terms of appearances. So far there's a tie in the category of "game face."
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