Jump to content
House Price Crash Forum
Sign in to follow this  
eric pebble

Predatory Liar Loans - A Good History Of The Usa Experience

Recommended Posts

Very, very interesting and well-researched article in Salon magazine which reached right back into the early days of PREDATORY LIAR LOANS...

Read all this and WEEP --- and just see how powerful the Bankster Lobby is in this horrible world....

In 2000, Edward Gramlich, a Federal Reserve Board member, repeatedly warned Greenspan about subprime mortgages and predatory lending, which he said jeopardized the twin American dreams of owning a home and building wealth. He tried to get Greenspan to crack down on irrational subprime lending by increasing oversight, but his warnings fell on deaf ears. In 2001, the Center for Responsible Lending, a research and advocacy group, issued a report alerting regulators about the dangers of the upsurge of subprime lending. Yale economist Robert Shiller also tried to warn regulators that the housing bubble was about to burst, but he was ignored. In 2002, housing advocates in Georgia persuaded Democratic Gov. Roy Barnes and the Legislature to pass an anti-predatory lending law, which made investment banks that created MBSs and investors who bought them liable for financial damage if mortgages turned out to be fraudulent. (When a Republican defeated Barnes later that year, the law was repealed in the wake of a Wall Street lobbying blitz.)

http://www.salon.com/2016/01/16/the_big_shorts_shortcomings_the_real_culprits_in_the_financial_meltdown_never_paid_for_their_crimes_but_still_its_not_all_gloom_and_doom/

Sadly it doesn't talk about the equally criminal and disastrous goings on here in the UK Re: PREDATORY LIAR LOANS -- straight under the nose of that C NT G Broon -- who even actually took property price inflation OUT of the official inflation figures --- AND he ceremoniously launched the opening of Lehman Bros London office --- licking their filthy big ar$es big time.......

WADDAN ABSOLUTE C NT.......

Edited by eric pebble

Share this post


Link to post
Share on other sites

and using the Labour party flag to pretend to be on the side of "hard working men and women". Like all the other political spivs in the LibLabCon - and still allowed a voice by the mainstream media without his voice being dubbed over.

Edited by billybong

Share this post


Link to post
Share on other sites

How can we help the liars who took the mortgages?

6-7 years of 0.5% and QE... not enough?

Maybe you should donate your savings to the liars.

Share this post


Link to post
Share on other sites

What an absolutely contemptible man Brown was - hubris, delusion and mendacity. No one stopped him, no one really challenged him.

All put right by those who saw and followed... er, no!

Share this post


Link to post
Share on other sites

What an absolutely contemptible man Brown was - hubris, delusion and mendacity. No one stopped him, no one really challenged him.

All put right by those who saw and followed... er, no!

+4,999,999

Share this post


Link to post
Share on other sites

How can we help the liars who took the mortgages?

6-7 years of 0.5% and QE... not enough?

Maybe you should donate your savings to the liars.

GRRRRRRRRRRR...... I AM ANGRY today. Really ANGRY.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   32 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.