Liar Loans and the Housing Crisis

Ever wonder Harlem and Bronx NY dudes, how the housing crisis got so bad?  I know that you been down with the geezer, but also the Angelides Report has got the story.  It is also called the Financial Crisis Inquiry Commission Report, and you can look at it, for free at http://fcic.gov. You may have known this already but forgot, the bankers and gangsters try to confuse you. Look what they had some dumb ass dude do who worked at McDonalds as a hamburger fryer.  the dude got two mortgages, one for 80-percent of the value and a second mortgage for the down payment of 20-percent. And remember these were 40-percent no-doc and low-doc loans on your ability to pay, a bunch of liar loans. No wonder the whole damn thing crashed and is still crashing. The dude was trying to buy a $300,000 apartment on $7 an hour.

Financial Crisis, Don't Lose Your T-Shirts

Financial Crisis report is here, so get down with Commission chair Phil Angelides
The pro-Obama self-described progressives at the Campaign
for America's Future complained about the White House's icy
silence on the Angelides Commision. Wrote the CAF's Sam Pizzigati
on Feb. 5: "Blue-ribbon reports, to make an impact, need
political patrons, elected leaders who'll talk the report content
up, in news conferences and speeches, and demand immediate action
to correct the ills that report content identifies. The Pecora
Commission report had plenty of those patrons, including
President Franklin D. Roosevelt. The Financial Crisis Inquiry
Commission has had virtually none. The White House has done next
to nothing to give the report legs, and neither have many
Democratic lawmakers."

Obama, time to see the light of reality.