Which unions were involved with the development of the malicious mortgage loan industry?

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in former years–since the legislation was developed during the Clinton administration.

Or was that an effort of the mafia?

3 Comments
  1. Reply
    angela
    May 1, 2011 at 4:17 am

    No unions, no mafia, just unscrupulous lenders looking to maximize profits.

  2. Reply
    Carolo43
    May 1, 2011 at 5:16 am

    None. The banking corruption was due to Congress easing up on banking regulations and they were able to pull the biggest scam on the American people in history. Who has never yet been mentioned is the Real Estate Companies themselves who knew these homes were over priced and added their own exuberant commissions onto these homes driving prices up even farther.

    The biggest farse of them all is none of these people went to prison and didn’t even get FINED. They should be sitting in prison but here we are now……..giving big tax cuts to the rich so guess they get to screw us again.

    Bernie Madoff pulls a scam, his assets are taken from him and he goes to prison. Not these guys.

  3. Reply
    Old Guy
    May 1, 2011 at 5:39 am

    No unions, just Chuck Schumer, Charles Dodd and Barney Frank forcing Fannie Mac and Fannie Mae to loan money to anyone regardless of their ability to repay. This, in turn, was hoped to make Pres Clinton’s Affordable Housing Act look as though it was working. A great Democrat plan. Fail.

    Financial institutions were virtually blackmailed by the Dems to accept known bad loans thus creating the housing bubble which as we know burst wide open and all H*ll then broke loose. The banks, being backed into a losing financial corner, in turn created “ghost” paper and sold those mortages downstream rather than take the loss. Soooo…more and more financial institutions got involved. Until…..fail.

    It wasn’t until 0bama took to the stage that the unions got involved, receiving billions of taxpayer money as a payoff for their support of 0 during his campaign under the lie of Obama saving the nation’s banks, which he later demonized as Evil. (Ironically, when our tax dollars were finally tracked down to see who benefited from this give-away, foreign banks, foreign companies, and unions were high on the list).

    Isn’t politics fun? As for the Mafia, they wish they had a hand puppet like Obama so they could have money given to them like 0 “gifts” the unions.

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