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Article #1992

Re: Of Mortgages for Illegal Aliens, "Liar's Loans" and the Coming Housing Bubble Bloodbath

#1992
From: tedorn44
Date: Tue, 16 Jan 2007 12:37
159 lines
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GeorgeWashingtonAdmirer@adelphia.com wrote:
> While reading the folowing excerpt from a new essay entitled "Housing
> Bubble Bloodbath" on the U.S. housing bubble, bear in mind that
> virtually EVERY mortgage loan given to millions of illegal aliens who
> bought homes when the bubble was expanding -- some of which were
> provided to the illegals via Fannie Mae, which is now itself in deep
> financial trouble (do I hear feint cries of "BAILOUT! BAILOUT!
> BAILOUT!" in the distance? ... Hey, it worked for Neil Bush and his
> Silverado Savings and Loan's Ponzi scheme!) -- is, of sheer necessity,
> *precisely* the kind of "Liar's Loan" cited below millions of which now
> stand before Truth with much the same result that ensues when Dracula
> stands before a Cross.
>
>    As stated above, these mortages-for-illegal-aliens were of necessity
> "Liar's Loans" because NO ONE, NOT THE POLICE, NOT THE
> LOCAL/STATE/FEDERAL GOVERNMENT, AND CERTAINLY NOT THE MORTGAGE
> COMPANIES HAD/HAS ANY IDEA OF THE ILLEGAL ALIENS' TRUE INCOMES.
>
>   This is why, for example, millions upon millions of illiterate,
> non-Engliah-speaking illegal alien Mexican peasant women drive their
> anchor babies off at U.S. public schools daily in the most humongous,
> most expensive, gaz-guzzling behemoths sold (Cadillac Escalades and
> Hummers seem to be giving competition to the illegals' traditional
> favorite, the SUV-on-steroids Chevy Suburban, for the title "Illegal
> Aliens' Favorite Vehicles," at least in California.)
>
>   Once out of the vehicles the anchor babies make a beeline to the
> school's cafeteria, whereupon they're provided the first of the 2/3 of
> that day's meals which are completely "free," courtesy of the taxpayer.
> It's been proven that the nutritional value of these free meals
> provides the anchor babies with more than enough energy to lower U.S.
> flags from public school flagpoles, stomp them, replace them with
> Mexican flags and even follow all that up with an afternoon hijacking
> the local area's streets to wave still more Mexican flags.
>
>    Yes indeed, the same illegal alien parents who claimed (and who's to
> prove otherwise?) that the family's total income is something along the
> lines of $31.45/week, but which can nonetheless afford to buy $60,000+
> new vehicles (typically driven sans license, insurance, driver training
> or registration, but that's another issue I'll not get into here), ship
> $500 a month out of the USA and into Mexico/Central America and buy all
> the latest video game systems (and dozens of their corresponding game
> cartridges at $25 a pop) etcetera can easily pool the wool over
> clueless Uncle Gringo's, er, Uncle Sam's eyes and brazenly plead
> poverty when it comes to feeding its kids and as a result be freed of a
> significant child-rearing expense. (Gee, is it just me or did Jesus
> Christ Himself actually warn his followers to beware of being "easy
> marks" for cunning schemers and manipulators or, in the vernacular of
> my native New York City, "shmucks" when He cautioned, "Be wise as
> serpents!")
>
>   On the other hand, of course, there's no way that the U.S.-citizen
> parents of the anchor babies' peers can get away with the same scam --
> unless they wish to be prosecuted for fraud and imprisoned -- since
> virtually EVERYTHING about *them* is documented, documented,
> documented.  In fact, the "Application for Free or Reduced Lunch" will
> proclaim, in bold print, that the submitted forms are "spot-checked"
> and that any lying on the application can result in severe criminal
> penalties. The thing is, and as mentioned above, NO ONE BUT NO ONE
> EXCEPT THE ILLEGAL ALIENS THEMSELVES KNOW THEIR TRUE INCOMES; thus,
> trying to prosecute the millions of illegal aliens who lie as amatter
> of course on such government forms would be futile. But charging
> U.S.-citizen parents for lying on the same forms which illegals so
> habitually lie on is a savory prospect indeed for any opportunistic
> prosecutor who wants some publicity showing how he/she is adopting a
> "get tough" demeanor with fraudsters.
>
>   Should anyone reading this be so uninformed as to be skeptical of
> what's written above I strongly encourage them to take a few morning or
> afternoon walks this week in the vicinity of the public schools closest
> to their homes, and to just open their eyes. Then talk to the American
> parents of school-age children and hear it all "from the horse's
> mouth." Finally, call the central office of the public school system in
> your area and request an "Application for Free or Reduced Lunch" --
> it's actually a form of the federal government) and read it yourself!
> -----------------------------------------------------------------------------------------------
> Housing Bubble Bloodbath
>
> by Mike Whitney
> 14 January 2007
>
> Excerpt:
>
>               In 2006 the Mortgage Brokers Association
>               for Responsible Lending (MBARL) said that
>               "Liar's Loans" (those based on what you TELL
>               the bank you are earning, rather than what you
>               are REALLY earning) "shot up to an estimated
>               62% of mortgage originations...A recent sampling
>               of 100 stated income loans by an auditing firm in
>               Virginia (based on IRS records) found that 90% of
>               the income statements were exaggerated by 5% or
>               more, WHILE ALMOST 60% OF THE STATED
>               AMOUNTS WERE EXAGGERATED BY MORE
>               THAN 50%"!?! (Dan Dorfman New York Sun)
>
>               Are you kidding me? A majority of loan applicants
>               are grossly exaggerating their income and the banks
>               are handing out hundreds of thousands of dollars
>               WITHOUT EVEN CROSS-CHECKING IRS
>               STATEMENTS?
>
> http://www.atlanticfreepress.com/index.phpoption=com_content&task=view&id=677&Itemid=81
> _________________________________________________
> PLEASE EMAIL THESE LINKS TO EVERYONE YOU KNOW:
> www.PredatoryAliens.com
> www.ImmigrationsHumanCost.org
> www.DayLaborers.org
> www.alipac.us
>
> "The Illegal-Alien Crime Wave" by Heather MacDonald
> www.City-Journal.org/html/14_1_the_illegal_alien.html
>
> See the COLO$$AL CO$T$ of illegal aliens to the American taxpayer:
> www.ImmigrationCounters.com
>
> www.AmericanPatrol.com
> www.SaveOurState.org
> www.EscapingJustice.com
> www.steinreport.com
>
> Just two of MANY American cops murdered by illegals:
> www.DeputyDavidMarch.com
> www.KrisEggle.org
>       "The federal issue of border security quickly becomes
>        a local one when feds refuse to enforce the law. Local
>        law enforcement agencies in Everytown, USA are
>        forced to respond."
>       -- Tom Fitton, Judicial Watch www.JudicialWatch.org
>
>    "Unfortunately, the majority of illegal aliens who are here are
> engaged in criminal activity. Identity theft, use of fraudulent Social
> Security numbers and green cards, tax evasion, driving without licenses
> represent some of the crimes that are engaged in by the majority of
> illegal aliens on a daily basis merely to maintain and hide their
> illegal status. In addition, violent crime and drug distribution and
> possession is also prevalent among illegal aliens. Over 25% of today's
> federal prison population are illegal aliens. In some areas of the
> country, 12% of felonies, 25% of burglaries and 34% of thefts are
> committed by illegal aliens."
>
>   -- Testimony of District Attorney John M. Morganelli before the House
> Subcommittee on Immigration, Border, Security and Claims [Note: 99% of
> warrants for murder in Los Angeles, California -- the USA's 2nd
> most-populous city -- are for illegal aliens]
>
>   "It does not take a majority to prevail, but rather an irate,
>    tireless minority keen on setting brushfires of  freedom in
>    the minds of men."
>    - Samuel Adams

The demand by sleazebag business interests for cheap labor has created
an economic ponzi scheme. Keep adding these worthless immigrants until
all hell breaks loose.

ted

http://www.minutemanproject.com/  Minuteman Project
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From: tedorn44@hotmail.com
Newsgroups: sci.econ,misc.consumers.frugal-living,alt.politics,alt.california,az.politics
Subject: Re: Of Mortgages for Illegal Aliens, "Liar's Loans" and the Coming Housing Bubble Bloodbath
Date: 16 Jan 2007 04:37:48 -0800
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