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States warned about impending mortgage crisis

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posted on Oct, 12 2008 @ 01:41 PM
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States warned about impending mortgage crisis


www.msnbc.msn.com

More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator.

the AGs from North Carolina and Iowa said lenders were pushing increasingly risky mortgages.

"People out there are struggling with oppressive loans," Cooper recalls saying.

(visit the link for the full news article)




posted on Oct, 12 2008 @ 01:41 PM
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I guess the question is why is the media reporting it only now?

Sounds like an economic 9/11 to me if you know what I mean.

Things are really bad and I have spoken to some new yorkers and californians who are actually pro-bailout bill. That's just the worst part of it, I guess they are too distracted by the latest brintney spears gossip.

Let's listen to a wise man just to clear our minds



www.msnbc.msn.com
(visit the link for the full news article)



 
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