Michael Madigan wrote: > That same basic guideline is here, but not in law but as part of a lenders > policy. > > The morons in Washington recently passed legislation to increase home > ownership for low income people as a way to get Black and Latino votes. > > When the banks made these loans to people who obviously couldn't pay, they > then sold the "paper" to sucker investors. When the interest rates went up, > there were many defaults. In the end some investors got screwed and some > banks got screwed.
There you go painting with that "too wide" of brush again. _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
