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Article #1992Re: Of Mortgages for Illegal Aliens, "Liar's Loans" and the Coming Housing Bubble Bloodbath
From: tedorn44
Date: Tue, 16 Jan 2007 12:37
Date: Tue, 16 Jan 2007 12:37
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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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X-Google-Thread: fd5f7,61e525378f86b094,start X-Google-Thread: f6c48,61e525378f86b094,start X-Google-Thread: 1141a2,61e525378f86b094,start X-Google-Thread: 10a942,61e525378f86b094,start X-Google-Thread: fca2b,61e525378f86b094,start X-Google-Attributes: gidfd5f7,gidf6c48,gid1141a2,gid10a942,gidfca2b,public X-Google-Language: ENGLISH,ASCII-7-bit Path: arc1-ca.pugleaf.net!g2news2.google.com!postnews.google.com!51g2000cwl.googlegroups.com!not-for-mail 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 Organization: http://groups.google.com Lines: 160 Message-ID: <1168951067.979642.97250@51g2000cwl.googlegroups.com> References: <1168942141.899659.243240@51g2000cwl.googlegroups.com> NNTP-Posting-Host: 24.121.21.57 Mime-Version: 1.0 Content-Type: text/plain; charset="us-ascii" X-Trace: posting.google.com 1168951075 21833 127.0.0.1 (16 Jan 2007 12:37:55 GMT) X-Complaints-To: groups-abuse@google.com NNTP-Posting-Date: Tue, 16 Jan 2007 12:37:55 +0000 (UTC) In-Reply-To: <1168942141.899659.243240@51g2000cwl.googlegroups.com> User-Agent: G2/1.0 X-HTTP-UserAgent: Mozilla/4.0 (compatible; MSIE 6.0; Windows NT 5.1; SV1),gzip(gfe),gzip(gfe) Complaints-To: groups-abuse@google.com Injection-Info: 51g2000cwl.googlegroups.com; posting-host=24.121.21.57; posting-account=cr6tvA0AAAAsUCbHPEbS9Bi-5qo_mNVl