Did Bush Admin/GOP assist in the Washington Mutual FRAUD?

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http://blogs.forbes.com/streettalk/2010/04/13/was-wamu-unique-nope/

From 2001 to 2007, Washington Mutual committed the worst banking fraud in US history. Loaning out mortgage money that they knew would not be paid back. They insured the loans and collected the commissions. Then they tried to hide the bad loans on their balance sheets. Some Federal regulators noticed the fraud, but were told to look away by the GOP and Bush administration. Why did the GOP and the Bush administration allow the worst banking fraud in US history to continue for nearly 8 years? The Washington Mutual failure cost the taxpayer nearly $ 200 billion. Where were the Tea people? Why aren’t they complaining? Why aren’t they asking for Bush to be imprisoned?

I am currently doing a project for my finance class. We are buying a house for $ 510,000. My group asked me to find out information on interest rates that banks give for mortgage loans. I am currently looking for the interests rates from Washington Mutual and Bank of America. Where do I go to find this out? Is it located on their website somewhere or do I have to call the banks? Any information will be very helpful.

8 Comments
  1. Reply
    Liberals R Idiots
    February 7, 2011 at 11:24 pm

    Look to the future with your new master. Move on.

  2. Reply
    Appeal to Heaven
    February 7, 2011 at 11:50 pm

    “Some Federal regulators noticed the fraud, but were told to look away by the GOP and Bush administration”

    This portion of your rant against Bush and the GOP is nowhere mentioned in the story you linked.

  3. Reply
    ROTFLMAO
    February 8, 2011 at 12:41 am

    “Where were the Tea people? Why aren’t they complaining? Why aren’t they asking for Bush to be imprisoned?”

    NO where to be found! Pffft! And Bush assisted in PLENTY of FRAUD! It’s all documented all over the internet for anyone WITHOUT blinders on to SEE! Them trying to turn President Obama into the crooked evil-doer Bush, … is NOT working! Pffft.

  4. Reply
    S D
    February 8, 2011 at 1:15 am

    The Bush Admin and the GOP are complicit in these huge bank fraud robberies.
    Yes it cost the taxpayer hundreds of billions!

    The Tea terrorists only talk about Obama and his birthplace.

    It leads me to believe that the Tea idiots and the criminals in the Bush Admin /GOP are in this together.

  5. Reply
    az_mommma
    February 8, 2011 at 1:47 am

    Bank of America posts their interest rates in the bank offices. Not sure about the other though.

  6. Reply
    Negeshia
    February 8, 2011 at 2:38 am

    websites below

  7. Reply
    Nancy
    February 8, 2011 at 3:23 am

    bankrate.com should give you the daily rates for a list of 10 or more banks at once.

  8. Reply
    Arturo S
    February 8, 2011 at 4:07 am

    Rates depend heavily on 3 factors, Credit, Collateral, Compensation.

    Credit= FICO Score from 620-720?
    The lower your credit score the higher the rate

    Collateral= Loan to Value, are you financing 80%, 90% or 100%?
    The more you finance results in higher interest rate. The type of property also determines the interest rate.

    Compensation= Income Verification, Assett Verification, or No Verification?
    They less documentation you show the higher the interest rate.

    So, lets say you’re going Full Doc, 80% Financing, Primary Residence, 720 FICO. I think you can get anywhere around 5.75% – 6.5%

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