On 1/6/2018 5:55 PM, juan wrote:
On Sat, 6 Jan 2018 17:21:29 +1000 jamesd@echeque.com wrote:
On 1/6/2018 2:40 PM, juan wrote:
"The Size of the Bank Bailout: $29 Trillion " https://www.cnbc.com/id/45674390
The reason the banks needed to be bailed out was affirmative action lending,
stop lying, scum
I was in Sunnyvale, which was ground zero of the Great Minority Mortgage Meltdown: Almost every dud mortgage in Silicon valley, as near to all of them as makes no difference, was a loan to a non white, usually a recent immigrant, frequently illegal, usually with poor English or no English. The Bank of Beverly Hills was destroyed for doubting that lending to people with no income, no job, and no assets was a good idea. During the takeover bidding wars when banks were buying each other up, rather than the bidders promising the shareholders more money, the bidders would promise the regulators more mortgages to nonwhites and single women. With Angelo Mozilo always getting the winning bid by promising astonishingly large amounts of affirmative action loans to Hispanics.