pulls back the curtain to show the 800 pound Gorilla sitting in the room where this bailout scam was negotiated here are the money quotes that will cost the American taxpayers:
It’s no coincidence that most of the areas hardest hit by the
foreclosure wave – Loudon County, Virginia, California’s Inland Empire,
Stockton, San Joaquin Valley, Las Vegas, and Phoenix, for starters — also happen
to be some of the nation’s largest illegal alien sanctuaries. Half of the
mortgages to Hispanics are subprime (the accursed species of loan to borrowers
with the shadiest credit histories.
I’ve reported on the rapidly expanding illegal alien home loan racket.
The top banks clamoring for their handouts as their profits plummet, led by
Wachovia and Bank of America, launched aggressive campaigns to woo illegal alien homebuyers. The quasi-governmental Wisconsin Housing and Economic Development Authority jumped in to guarantee home loans to illegal immigrants.
The Washington Post noted, almost as an afterthought in a 2005 report:
“Hispanics, the nation’s fastest-growing major ethnic or racial group, have been
courted aggressively by real estate agents, mortgage brokers and programs for
first-time buyers that offer help with closing costs. Ads proclaim: “Sin
verificacion de ingresos ! Sin verificacion de documento !” — which loosely translates as, ‘Income tax forms are not required, nor are immigration papers.’”
Yes, Nancy Pelosi had it right "The Party is over. But, for groups like La Raza and the illegal immigrants and banks who have these sub prime loans the party has just begun. Meanwhile we American taxpayers are the ones who will be left to clean up the mess thanks to this bailout bill. Hola suckers!
No comments:
Post a Comment