Wednesday, September 17, 2008

Subprime Meltdown # 2

Folks, here is the crisis in a nutshell, something no one will admit to yet everyone who is anyone in the business knows: The ZOG forced the lenders to cut loans to Invaders and Africans. The Street, always eager to make a quick buck, practically threw away loan standards that had been in place for White Folks, and preyed on the muds. Predatory Capitalism, you see, is truly colorblind in its exploitation.

"During the racial pandering mania, down payment standards were reduced greatly and eliminated entirely in some cases, as President Bush cited down payments as a “barrier to home ownership among the disadvantaged.” (Duh.) And, when the predictable happened, and houses were foreclosed upon, the banks were taking houses that had an almost 100% principle balance-to-value percentage, and then forced to sell them (if they could) for values far less (as it could only be, see above) than the principle amounts they approved the mortgages for on these houses. Now you see why Lehman Brothers declared bankruptcy on Monday? Predictably, down payment stanards have returned." Read on...

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