It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Delinquent Homeowners to Get Mortgage Aid from Obama Administration

page: 14
14
<< 11  12  13   >>

log in

join
share:

posted on Jun, 16 2011 @ 11:34 AM
link   
The big con at the time people were buying these homes that they could barely afford, is that the home value would go up, and that they could refinance, and get a lower payment. This was incredibly temping to many, and they bought into this idea.

It was a house of cards once the banks were deregulated, but most repubs at the time were bragging about how well the economy was doing, based on this big con about home values.

The whole con would never have worked if it wasn't for the false rating of these shaky home loans as solid investments. That is where the real criminal activity took place.

One thing is clear, the banking execs are the ones who made all the money from this scam, and none of them are being held responsible for their misdeeds. That is your free market at work.




posted on Jun, 21 2011 @ 02:55 AM
link   
reply to post by macman
 


No hypocrisy. Sometimes people don't grasp the intensity of a situation until it hits home. That's the way it is with everything.



new topics
 
14
<< 11  12  13   >>

log in

join