Wow! Subprime lending worked SOOOO well for the mortgage industry Wow! Subprime lending worked SOOOO well for the mortgage industry
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    Wow! Subprime lending worked SOOOO well for the mortgage industry
from Crowbar  
7/27/2012 10:07:01 PM

Rated:

  That the gubmint figures it's just the ticket for auto loans now.....


http://news.investors.com/article/620090/201207271807/gm-risky-subprime-auto-loans-fuel-sales.htm


Glad
see they learn so well from past mistakes. Sighhhhh.


93% of all GM Financial loans in the first quarter of 2012 were subprime.


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   Those damned democrats! from Brad  7/27/2012 11:44:47 PM
 


   Brad, you dumb Phuk. from Paul Sonnier  7/27/2012 11:54:28 PM
 Did you hear....... "QUALIFIED low income buyer".....


Hence the word QUALIFIED????


Pass a credit check, have a JOB, and be able to PAY THE MORTGAGE????


Affordable does not mean, a $2,000 house note when you make $1,500 a month!


You Dumb Ass Lib's think everyone should have a house, even if you can't afford to pay the note!


Buttblast


I pay for my house, and I aint payin for no one else who can't afford one!....


   Umm Brad... from Harumph #11038 #11038  7/28/2012 8:58:37 AM
  http://www.youtube.com/watch?feature=player_embedded&v=cMnSp4qEXNM#!



   Here's another: from Brad  7/28/2012 10:32:47 AM
 In this one bulsh is telling the heads of fanny and freddy to give home loans to----


waitforit!


waitforit!


"Low income, first time, minority home buyers with bad credit!!!!!!!!!


I KID YOU NOT!



Your Call:


   Yeah... sounded like a good idea... from Funky  7/28/2012 2:16:15 PM
 to some in 2002... I personally never believe in loaning money to someone who never has any intention of paying it back... cept my kids... til they also saw the error of such a plan. Then when they tried to stop it!



Let's git eberboby a new Escalade and again let the taxpayers make the payments!


   Concering the mortgage debacle from Crowbar  7/28/2012 2:24:50 PM
 I think there is plenty of blame to go around on both sides of the aisle.


Repeating the same act and expecting a different result each time....there's a word for that isn't there?


   The word you're looking for is ........ from Wade Fisher  7/28/2012 2:51:30 PM
 VOTES.


A new Cadillac in the driveway will buy lots of those.


Wade


   Funkmeister... from Brad  7/28/2012 3:30:00 PM
 In '04, there wasn't a problem-


the problems didn't appear until a couple of years later when the bundles of mort securities started to reveal their fatal flaws.


this theft was orchestrated on several fronts--


the elimination of glass steagll; which allowed investment banks to speculate on home morts


subprime morts; which drew many unworthy home buyers to sign a loan document with a party that was never going to be responsible for collecting the money!


Over-inflation of home values; which was a further draw for getting unsuspecting "Low income, first time, minority home buyers with bad credit" to sign a document that would be immediately turned into a securatized product to be unleashed on the global market-->AAA rated but not worth the paper.


then came 2008 when the shell game fell apart and you and i got stuck with the cost....




   Two to blame Brad from JimR #10692 #10692  7/28/2012 6:49:19 PM
 Frank and Dodd!!!!


   The game fell apart... from Funky  7/28/2012 10:15:13 PM
 not because of Bush, or any bundling of mortgage securities and it didn't start several years later. It started in the early to mid 2000's when all the sub-prime mortgagees got their loans and many never made the first payment. Then Freddie and Fannie started hiding all these defaults, so the could keep on playing the game and Franklin Raines and many people like him, could continue to draw his $90 million bonus.


You are always so quick to vilify any Banker who collects a big bonus, how come I've never heard a peep from you about the bonuses paid to Raines, Jamie Gorelick, Tim Howard and Jim Johnson. And it's still going on with Ed Haldeman and Michael Williams. Wonder if they made any political contributions and to who?


   i remember when it started.. from Brad  7/29/2012 3:58:31 PM
 i was telling everyone including right here that there was no way this couldn't be scam! The intensity of the advertising was one big clue.


There are indictments on the way--who i don't know, but it's going to happen--hope to see some of the names you mentioned on the list!


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