The Latest Foreclosure
Horror The Zombie Title 
The banks are in it for the money. Walking away, leaving the little people with
the problems is the way to go, for bankers it is the only way.
Bill Clinton's Role in the Mortgage Crisis
QUOTE
What Hath Clinton Wrought?
What can be said in Clinton's favor is that in 1999 few people anticipated
the out-of-control growth of the hedge fund industry and the subprime
mortgage market. The New York Times described the new financial
world created by the repeal of Glass-Steagall in
a June 2007 profile of Goldman Sachs:
While Wall Street still mints money advising companies on mergers and taking them public, real money — staggering money — is made trading and investing capital through a global array of mind-bending products and strategies unimaginable a decade ago.
Curiously, Goldman Sachs head Lloyd Blankfein [ a Jew ] paints the perfect big picture of what has happened:
We’ve come full circle, because this is exactly what the Rothschilds or J. P. Morgan, the banker were doing in their heyday. What caused an aberration was the Glass Steagall Act.
Blankfein's analysis testifies to the full impact of Bill Clinton's
actions, for like many members of the Counterrevolution he sees the New Deal
as an aberration and longs for a return to the days J. P. Morgan and other
tycoons gave the Gilded Age its nickname. His "aberration" was eliminated
not because of the actions of some radical Republican, but because of Bill
Clinton. No wonder Goldman Sachs is also a prime contributor to
you-know-who.
As is often the case, the story of the repeal of Glass-Steagall and the
growth of the subprime mortgage market that is now crumbling around us like
a financial house of cards can be best be told by
a graph:
If you think of this graph as the level playing field, notice how flat it
was before Bill Clinton repealed Glass-Steagall, then notice how steep it
has become. Those subprime loans amount to nothing more than an organized
rip-off of millions of innocent Americans, with the steepness of the graph
illustrating the how far the playing field has tilted.........
The Future of Your Mortgage
In
testimony before Congress on November 8, Federal Reserve Chair
Ben Bernanke [ a Jew
] painted a grim picture of the current crisis and even grimmer
picture of the future:
On average from now until the end of next year, nearly 450,000 subprime mortgages per quarter are scheduled to undergo their first interest rate reset. [My emphasis]
According to a December 2006 study by the Center for Responsible Lending, a nonpartisan research and policy organization:
More than 2 million people with subprime loans are facing foreclosure this year and nearly 20 percent of subprime mortgages issued between 2005 and 2006 are projected to fail.
But numbers and testimony and even history mean little to those who suddenly find themselves up against the wall. In every city and town across this country "For Sale" signs are popping up on lawns. Behind each of those signs lies a personal story, a family tragedy, which like the tragedies of the Great Depression, tells of innocent Americans felled by an affliction they never saw coming.....
And the current crop of politicians? Look closely at their donor lists,
which I detailed in the series "Follow
the Money." Then wonder why no moderator or other candidate has asked
Hillary Clinton if she supports her husband's repeal of Glass-Steagall? Ask
the other candidates if they support Bill Clinton's move.
Meanwhile the signs keep sprouting and the playing field keeps tilting and
soon the snow will start to fall, drifting against the signs. How many more
people will have lost their homes when the snow melts?
UNQUOTE
A leftie writes. He reads as a fair man. Notice always the number of Jews in
the finance industry, Jews who are very decidedly not victims.
Bill Clinton's
Drive To Increase Home Ownership Went Way Too Far
QUOTE
Add
President Clinton to the long list of people who deserve a share of the blame
for the housing bubble and bust. A recently re-exposed document shows that his
administration went to ridiculous lengths to increase the national
homeownership rate. It promoted paper-thin down payments and pushed for ways to
get lenders to give mortgage loans to first-time buyers with shaky financing
and incomes. It’s clear now that the erosion of lending standards pushed
prices up by increasing demand, and later led to waves of defaults by people
who never should have bought a home in the first place.
President Bush continued the practices because they dovetailed with his Ownership Society goals, and of course Congress was strongly behind the push. But Clinton and his administration must shoulder some [ some/most/a lot/all? ] of the blame.........
The Clinton-era document that Mason cites—“The National
Homeownership Strategy: Partners in the American Dream”—was hiding in plain
sight on the website of the Department of Housing & Urban Development until last
year, when according to Mason it was removed (probably because the housing bust
made it seem embarrassing to the department). Mason credits Joshua Rosner of
Graham Fisher & Co. with saving a copy of it before it was expunged.
UNQUOTE
Commentators are not keen on fingering Clinton. I am.
Minorities'
Home Ownership Booms Under Clinton but Still Lags White Peoples'
QUOTE
It's one of the hidden success stories of the Clinton era. In the great
housing boom of the 1990s, black and Latino homeownership has surged to
the highest level ever recorded. The number of African Americans owning
their own home is now increasing nearly three times as fast as the number
of whites; the number of Latino homeowners is growing nearly five times as
fast as that of whites. [ My emphasis - Editor ]
These numbers are dramatic enough to deserve more detail. When President Clinton took office in 1993, 42% of African Americans and 39% of Latinos owned their own home. By this spring, those figures had jumped to 46.9% of blacks and 46.2% of Latinos. That's a lot of new picket fences. Since 1994, when the numbers really took off, the number of black and Latino homeowners has increased by 2 million. In all, the minority homeownership rate is on track to increase more in the 1990s than in any decade this century except the 1940s, when minorities joined in the wartime surge out of the Depression.
This trend is good news
on many fronts.
UNQUOTE
It sounded good - at the time, to the well meaning, the poor, the
unsophisticated. The cunning liked it too but for different reasons.
They Gave Your
Mortgage to a Less Qualified Minority [ AKA Efnick ]
QUOTE
Before the Democrats' affirmative action lending policies became an
embarrassment, the Los Angeles Times reported that, starting in 1992, a
majority-Democratic Congress "mandated that Fannie and Freddie increase their
purchases of mortgages for low-income and medium-income borrowers. Operating
under that requirement, Fannie Mae, in particular, has been aggressive and
creative in stimulating minority gains."
Under Clinton, the entire federal government put massive pressure on banks to
grant more mortgages to the poor and minorities. Clinton's secretary of
Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for
racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie
Mac's portfolio be made up of loans to low- to moderate-income borrowers by
the year 2001.......
Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat
welfare payments and unemployment benefits as valid income sources to qualify
for a mortgage. That isn't a joke -- it's a fact.
When Democrats controlled both the executive and legislative branches,
political correctness was given a veto over sound business practices.
In 1999, liberals were bragging about extending affirmative action to the
financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton
administration's affirmative action lending policies as one of the "hidden
success stories" of the Clinton administration, saying that "black and Latino
homeownership has surged to the highest level ever recorded." [ See
the previous quote - Editor ]..........
Now, at a cost of hundreds of billions of dollars, middle-class taxpayers are
going to be forced to bail out the Democrats' two most important constituent
groups: rich Wall Street bankers and welfare recipients.
Political correctness had already ruined education, sports, science and
entertainment. But it took a Democratic president with a Democratic congress
for political correctness to wreck the financial industry.
UNQUOTE
Ann Coulter does not beat about the bush but then she does not have too. The
left are the ones who need the excuses, the lies, the evasions.
Mortgage Discrimination ex Wiki
QUOTE
Mortgage discrimination or mortgage lending discrimination is
the practice of banks, governments or other lending institutions denying
loans to one or more groups of people primarily on the basis of race,
ethnic origin, sex or religion. One of the most notable instances of
widespread mortgage discrimination occurred in United States
inner
city neighborhoods from the 1930s up until the late 1970s. There is
evidence that the practice still continues in the United States today.
Background
African Americans and other minorities found it nearly impossible to
secure mortgages for property located in
redlined
zones.
The systematic denial of loans was a major contributor to the
urban
decay that plagued many American cities during this time period.
Minorities who tried to buy homes continued to face direct discrimination
from lending institutions into the late 1990s. The disparities are not
simply due to differences in creditworthiness.
With other factors held constant, rejection rates for Black and Hispanic
applicants was about 1.6 times that for Whites in 1995.
Fairness in lending was improved by the
Home Mortgage Disclosure Act, passed in 1975. It requires banks to
disclose their lending practices in the communities they serve. In the
1970s, the private sector fight against mortgage discrimination began to be
led by
community development banks, such as
ShoreBank
in Chicago.
UNQUOTE
This is
Wikipedia doing what the Wikipedia does best, perverting the truth to help an
agenda. It makes blacks into victims of nasty Americans rather than bad
credit risks which they are.
Guess
Again Who's To Blame For The US Mortgage Meltdown
QUOTE
While many pundits are pointing to corporate greed and a lack of government
regulation as the cause for the American mortgage and financial crisis, some
analysts are saying it wasn’t too little government intervention that
cased the mortgage meltdown, but too much, in the form of activists
compelling the government to pressure Freddie Mac and Fannie Mae into unsound –
though politically correct – lending practices.
“Home mortgages have been a political piñata for many decades,” writes Stan
J. Liebowitz, economics professor at the University of Texas at Dallas, in a
chapter of his forthcoming book,
Housing America: Building Out Of A Crisis.
Liebowitz puts forward an explanation that he admits is “not consistent with
the nasty-subprime-lender hypothesis currently considered to be the cause of the
mortgage meltdown.” In a nutshell, Liebowitz contends that the federal government over the last
20 years pushed the mortgage industry so hard to get minority homeownership up,
that it undermined the country’s financial foundation to achieve its goal.
UNQUOTE
A Jew [ probability > 99% ] explains the problem.
