Presidential ?: White Collar Crime Foreclosure Outsourcing

Question to the Presidential Candidates about lender fraud, executive compensation, foreclosure white collar crimes and outsouring?

Category:

News & Politics

Tags:

• president
• question
• foreclosure
• barry
• bonds
• lender
• white
• collar
• crime
• fraud
• option
• arm
• indictment

[wenrock]

Coerced? Give me a break. Lenders had guns and forced people to buy houses they couldn't afford? - that's coerced.

[blomquist9]

Many fools were coerced by loan agents to believe they could afford a loan with low teaser rates. I agree a gun was not involved, but YOU along with millions of others will be paying for this pandemic as the kingpins behind it have made hundreds of millions.

[tomintroy]

I've never called anyone an idiot before, but you are an idiot!!!

Every stupid, lying, greedy untrustworthy buyer is to blame for this crisis! What ever happened to buyers making calculated risk decisions? Our schools are so busy teaching their liberal, white bashing agenda that they have failed to teach our children to THINK!

[blomquist9]

Why should the "stupid" buyers be held to a higher standard than the ivy league economic advisors in our government. It is now very clear that capitalism has failed. You can NOT have free markets when the very foundation of markets is fraudulent financing.

[blomquist9]

True, the candidates will most likely talk around the issue, but we must demand justice. Too many Americans are unwilling to fight the "good fight". Most would rather see Pam Anderson's boobs than a white collar criminal indicted.

We had banking laws in place to protect our economy from this fraud. Regardless if you obtained a loan you could not afford you too will be devastated from this debacle.

[m123tzz]

I do agree with this video. The government is to blame for the mortgage crisis. Where was the SEC and the auditors were they half of sleep on the job when they were auditing these lending companies financial books? I guess another ENRON Corp. repeat?

[pondguy123]

The least I can do is thank you for making this video. It will be a blessed day when the criminals in our White House are incarcerated.

[pr0gm3r]

It is good business and good trade. And this is called working smart not working hard.

[monkeyman1140]

Depends, what if somebody told you a pair of shoes was $50 but when you got your credit card statement you find they charged you $500.

[yogeedogee]

Well, those darn low earners should have grown a brain. If shoes had a price tag of $1,000. would you buy them?

[yogeedogee]

Here is the definition of "coerce":

To force to act or think in a certain way by use of pressure, threats, or intimidation; compel.

This is hardly what happened to the homeowners, who bought homes at ridiculously high prices with out any down payment,iffy credit and questionable income. However, I do agree that there was no oversight on the huge sub-prime loan wave that swept over this country. Interestingly, not even the media had looked into the reasons home prices had skyrocketed.

[Aaronteo33]

predatory lending my ass.Lenders were making it possible for more people to become home owners.The white man saw the black man become a homeowner that he wanted to stop that so they devised a scheme to punish lenders who...

[jennyjenny45]

In closing, those payday loans/check cashing places are owned by banks, they were setup to assist all the "undesirables", who they didn't want to give accounts to. Think about it.

[jennyjenny45]

The new "bailout" for foreclosures that GWB has proposed will not help most of the people who are in the process of foreclosure, it is designed to assist Mega financial instituitions such as Citibank, who decided to act like the local ghetto lender and got their asses handed to them. Why should the average taxpayer pay to get a bank out of it's con. We didn't do for the S&L debacle and we shouldn't do it now.

[jennyjenny45]

They basically understood that the government would do what it always does and bail them out when the Sh&* hit the fan. The problem with these people who are losing/lost their homes is not that they purchased a home with tricky financing but that they did not recognize a Payday Loan scam when they saw it, they were too busy trying out the ole "American Dream", I feel for you but learn to see the glass as "half empty."

[jennyjenny45]

These people got in over their heads, that is just too easy of a response and does not lend the blame where it belongs. I keep hearing about all the people in the money industry and how brilliant they are with their Bachelor's, Master's and PHD's and I can't help but wonder why they couldn't see the issue of mass foreclosure's when they created ARM's and then I realized, they did not want to!