Website review: MORTGAGE MELTDOWN / Interest rate f...
shatteredhalo discovered this in News(General)
•3 reviews since Dec 10, 2007
news
•sfgate.com/cgi-bin/article.cgi
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Reviews of this website
shatteredhalo discovered 7 months ago- From the page: "This logic is like saying shoppers seeking bargain-priced soup encourage the grocery store owner to steal it. I mean, we're talking about criminal fraud here. We are on the cusp of a mammoth financial crisis, and the Federal Reserve and the U.S. Treasury are trying to limit the liability of their banking friends under the guise of trying to help borrowers. At stake is nothing short of the continued existence of the U.S. banking system."
- anneliese rated 7 months ago
- From the page: "The sole goal of the freeze is to prevent owners of mortgage-backed securities, many of them foreigners, from suing U.S. banks and forcing them to buy back worthless mortgage securities at face value - right now almost 10 times their market worth. The ticking time bomb in the U.S. banking system is not resetting subprime mortgage rates. The real problem is the contractual ability of investors in mortgage bonds to require banks to buy back the loans at face value if there was fraud in the origination process."
- halfbrainj rated 7 months ago
- People! Wake up! BANKERS (Greatest thieves ever) are going to make the regular joes to back them up for rank sacking what little is left in our economy. Call your representative and demand some action!
