mortgage mess

Obama home mortgage bailout open to illegal aliens - 2/25/2009

From this: Illegal aliens can apply for mortgage relief under the Obama administration's $275 billion [home mortgage bailout] plan, according to immigration experts and a group the government will use to help homeowners modify loans. ..."There is no legal prohibition against illegal immigrants owning homes," (Steven Camarota, director of research at the Center for Immigration Stud...

"Financial Crisis Tab Already In The Trillions and Counting" - 2/16/2009

The article "Financial Crisis Tab Already In The Trillions and Counting" (link) is from Nov. 28, 2008 and thus before the trillion/multi-trillion dollar stimulus plan: it's a complicated cocktail of budgeted dollars, actual spending, guarantees, loans, swaps and other market mechanisms by the Federal Reserve, the Treasury and other offices of government taken over roughly the last ...

Who or what precipitated the financial crisis? (Soros? China? a setup to elect Obama? Did it just happen?) - 2/10/2009

Someone needs to snug their tinfoil hat down tight and try to figure out who or what got us into this financial mess. Did it just happen, or was it a deliberate plan in order to make money or help Obama get elected? Consider the attached video featuring Rep. Paul Kanjorski saying the following: "On Thursday Sep. 15, 2008 [note: he probably means Sep. 18] at roughly 11 AM The Federal Reserve n...

The $78 billion rip-off: Treasury overpaid for bank assets (TARP) - 2/06/2009

From this: The Bush administration received assets that were worth $78 billion less than the amount it invested as part of the massive infusion of capital into the country's banks, congressional investigators have found. The investigators concluded that the Treasury under the federal bailout had invested $254 billion into companies but the preferred stock it got in return had a market value...

Bailout: banks wanted thousands of foreign workers as they laid-off Americans (H-1B) - 2/01/2009

From this: Major U.S. banks sought government permission to bring thousands of foreign workers into the country for high-paying jobs even as the system was melting down last year and Americans were getting laid off, according to an Associated Press review of visa applications. The dozen banks now receiving the biggest rescue packages, totaling more than $150 billion, requested visas for more tha...

"Housing Push for Hispanics Spawns Wave of Foreclosures" (Joe Baca, Hispanic Caucus) - 1/04/2009

From this, much more at the link: California Rep. Joe Baca has long pushed legislation he said would "open the doors to the American Dream" for first-time home buyers in his largely Hispanic district. For many of them, those doors have slammed shut, quickly and painfully. Mortgage lenders flooded Mr. Baca's San Bernardino, Calif., district with loans that often didn't require...

UCLA professor Stephen Bainbridge deletes comments showing how he was wrong - 9/28/2008

UCLA law professor Stephen Bainbridge recently tried to debunk illegal immigration's role in the mortgage crisis. Along with issuing smears, his only data points in support of his position came from data that was over a decade old. Not only didn't he tell his readers that the data was incredibly out of date, but he deleted two comments pointing out that the data he was using was woefully...

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