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Santanfara
3460 Posts |
 Posted - 09 Apr 2008 : 15:46:25
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THE CREDIT CRUCNH . housing mortgage crisis. the effect of deceptive bank lending. over 1 trillion of dollahs is now in the red globally. the u.s facing reccession right in its face. but who are the big loosers in the apple pie? black and hispanic mortgage holders. oh yes. read palast's commentary on the subprime prima issue .
http://stupid-files.blogspot.com/2008/03/200-billion-bail-out-for-predator-banks.html
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Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Santanfara
3460 Posts |
Posted - 09 Apr 2008 : 15:51:17
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be careful brothers. when you go into your bank, and the bank clerk wants to be nice with you. ask yourself why he is/she nice to me? the good advice, isn't that good brothers and sisters.
read this quote
''Now, what kind of American is ‘sub-prime.’ Guess. No peeking. Here’s a hint: 73% of HIGH INCOME Black and Hispanic borrowers were given sub-prime loans versus 17% of similar-income Whites. Dark-skinned borrowers aren’t stupid – they had no choice. They were ‘steered’ as it’s called in the mortgage sharking business'' palast |
Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
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Santanfara
3460 Posts |
Posted - 09 Apr 2008 : 16:01:20
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another interesting observation.
who is safe from the luming bank crisis ? nay be kay is becuase is budy george is in white house
''Here’s how it worked: The Grinning Family, with US average household income, gets a $200,000 mortgage at 4% for two years. Their $955 a month payment is 25% of their income. No problem. Their banker promises them a new mortgage, again at the cheap rate, in two years. But in two years, the promise ain’t worth a can of spam and the Grinnings are told to scram - because their house is now worth less than the mortgage. Now, the mortgage hits 9% or $1,609 plus fees to recover the “discount” they had for two years. Suddenly, payments equal 42% to 50% of pre-tax income. Grinnings move into their Toyota.'' Palast greg
''But when the Bush regime took over, Countrywide and its banking brethren were told to party hardy – it was OK now to steer’m, fake’m, charge’m and take’m.'' Palast greg
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Surah- Ar-Rum 30-22
"And among His signs is the creation of heavens and the earth, and the difference of your languages and colours. verily, in that are indeed signs for men of sound knowledge." Qu'ran
www.suntoumana.blogspot.com |
Edited by - Santanfara on 09 Apr 2008 17:54:42 |
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