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mortgage mess: Page 1

Discussed in (click each link for the full post):

Brown-Whitman 10/02/10 debate: a very disturbing view of California's future - 10/05/10

... leave." Later, Salinas asks about the mortgage mess, saying "studies show that 48 percent of all foreclosures in the state involve Latinos". That would seem to be a statistic against interest, except neither Whitman nor Brown pointed out that one of the catalysts for that issue was probably poor Hispanics - including illegal aliens - buying homes beyond their means. Then, of course, it's on to...

The Economist in 2004: "More Mexicans, please" (promoted home loans to illegal aliens) - 12/14/09

... haven't looked into how much of the mortgage mess is due to financial institutions giving mortgages to low-wage workers, including illegal aliens from Mexico; for that, see Steve Sailer. Some but not all of it was, making the June 10, 2004 article from The Economist called "More Mexicans, please" (no author given; economist.com/world/unitedstates/displaystory.cfm?story_id=2752598) a cautionary...

Obama home mortgage bailout open to illegal aliens - 02/25/09

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 Studies) said, "...

"Financial Crisis Tab Already In The Trillions and Counting" - 02/16/09

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 year, based on...

Who or what precipitated the financial crisis? (Soros? China? a setup to elect Obama? Did it just happen?) - 02/10/09

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...

CBO: predicts "slow recovery in 2010", non-disastrous recession *without a stimulus* - 02/09/09

... that they are taking the TARP (mortgage mess) and fannie mae freddie mac bailouts into account, just not the stimulus bill.

The $78 billion rip-off: Treasury overpaid for bank assets (TARP) - 02/06/09

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 at...

Bailout: banks wanted thousands of foreign workers as they laid-off Americans (H-1B) - 02/01/09

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...

"Housing Push for Hispanics Spawns Wave of Foreclosures" (Joe Baca, Hispanic Caucus) - 01/04/09

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 down payments,...

UCLA professor Stephen Bainbridge deletes comments showing how he was wrong - 09/28/08

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 out of...

Stephen Bainbridge, Matt Yglesias embarrass themselves in support of illegal immigration (minorities, bailout) - 09/28/08

... "Illegal immigration and the mortgage mess" (link). Now, if there's one thing that the corrupt on both the right and the left can agree on it's that illegal immigration is the best thing since 8ulova watches. Thus it is that UCLA Professor Stephen Bainbridge [1] offers "They Make You Embarrassed to be a Conservative" in which he ironically embarrasses himself (link): ...the raving of people like...

Arizona Republic almost does expose on Western Union - 03/19/06

Chris Hawley of the AZ Republic offers the somewhat surprising article "Wire firm a force in debate over immigration". It's surprising because in a rare move for the AZ Republic it comes close to reporting the actual truth. They come close to implying that Western Union and their parent company First Data are profiting off illegal immigration, are encouraging illegal immigration, and are...