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Of course, the banks made out as well--just like they will on the student loans--the loser will be the US taxpayer as the democrats redistribute wealth to deadbeats--same as they did in the mortgage crises that has lead to the current homeless crises and lack of housing.
It worked last time.
Oh yeah! They walked away from those houses when they could no longer pay the mortgage because they had such little equity in those homes.
Smells of the feds arm twisting these banks (again).
Of course, the banks made out as well--just like they will on the student loans--the loser will be the US taxpayer as the democrats redistribute wealth to deadbeats--same as they did in the mortgage crises that has lead to the current homeless crises and lack of housing.
The banks don't pay those rates--their customers do.While still paying high interest rates for short term loans.
Certainly the banks are involved. They made the loans but the government guaranteed payment so we, you and I, are the ones who end up paying the bank for the deadbeats that got the free education.The government is forgiving government loans.
The banks didn't just take it in the shorts on FHA, VA and a host of other FreddyMac and FannyMae loans. The government guaranteed those loans as well, soooo the the taxpayer footed the bill again redistributing OUR wealth from beneficial tax programs to deadbeats (actually banks--they seldom lose) The only ones the banks ended up eating were conventional loans that were defaulted on and God knows, there were a bundle of them.How did the mortgage crises redistribute wealth to deadbeats?
Sshh! Not so loud.That actually amounts to 20% more interest paid over the life of the loan ... profit for the bank.
It amounts to lots of foreclosuresThat actually amounts to 20% more interest paid over the life of the loan ... profit for the bank.
There is a reason why the phrase "No Money Down" was originated by hucksters and used car salesmen...
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I sold one to a Ukranian.We saw how that worked out last time.
The Wife and I sold Her fathers place to a black guy who I worked with....he didnt save any money for taxes at the end of the fiscal year and he lost the house.
I expect more of the same.
The banks don't pay those rates--their customers do.
Certainly the banks are involved. They made the loans but the government guaranteed payment so we, you and I, are the ones who end up paying the bank for the deadbeats that got the free education.
The banks didn't just take it in the shorts on FHA, VA and a host of other FreddyMac and FannyMae loans. The government guaranteed those loans as well, soooo the the taxpayer footed the bill again redistributing OUR wealth from beneficial tax programs to deadbeats (actually banks--they seldom lose) The only ones the banks ended up eating were conventional loans that were defaulted on and God knows, there were a bundle of them.
Good, we need more people buying houses.
Isn't that sort of discrimination based on race outright illegal?
It seems to me that it is not all that WIDE SPREAD-----just what we calledYes. Yes it is.
Somehow no one calls it out as being illegal.
Colleges letting in X amount of blacks for being black is denying non blacks a place because of their skin color.
Hiring X amount of black employees is racist and denies non whites even a chance for not being black.
Biden saying he would put a black woman on the supreme court was racist.
Giving blacks and Latinos special interest rates based on skin color is racist.
The country is no more racist than it has ever been in it's history, but it isn't racist against blacks and people somehow seem ok with with racism when it's forced on others.
Bit misleading. Other races can live in black and hispanic communities.
What could possibly go wrong??
www.nbcnews.com
...and the Democrats will jump on that bandwagon, you know, for racial justice.They'll soon be demanding the government pay off their loans for them. If their demands are not met, then they'll claim it's racist that the government isn't paying off their loans.
