What Is It : Subprime Or Subcrime

What Is It : Subprime Or Subcrime

www.countercurrents.org

A sub-crime ponzi scheme in which millions of people are losing their homes because of criminal and fraudulent tactics used by financial institutions that pose as respectable players in a highly rigged casino-like market system.

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Greed is a fat demon with a small mouth and whatever you feed it is never enough, when a Banker lends you his umbrella, know that it will not rain.

www.countercurrents.org
(visit the link for the full news article)

The thing no one is looking at is the Civil Rights issue.

How often has Jessie Jackson decried the lack of mortgages to black people?

What happens next?

Lenders get tired of bing "shaken down" by Civil Rights leaders, and come up with some kind of quota system. Approving home loans to people without the means, just to appease Jackson and his ilk.

This is not a racial issue, anyone that does not have the means to own a home, shouldn't be approved based on the color of their skin.

I think the whole sub-prime failure is because of quotas.

Subprime is the result of the government trying to support a system well beyond their will to support a system.

The blacks were "red-lined" because they could not afford homes or mortgages, but anti-red-lining practices forced Banks to take their loans anyway....the result is the Sub-prime.

Cheap, crappy loans for impoverished people.

Some development banks made it work but the largest could not...because there were too many people weighing them down.