Friday, June 10, 2016

Bad loans - guaranteed?

How would you like to be poor, uneducated, illiterate, unemployed, on welfare and other benefits, have no income or savings, and be able to borrow $15,000 from the U.S. Government without being able to prove ability to repay it? And maybe not even have to worry about collection activity?

Read this posting from Judicial Watch.

Maybe all you have to do is leave the U.S. and find your way back as a refugee.

All together now, say "Thank you, Obama."

Of course, then there was Bernie with his free-education-for-all scheme. Well, McHenry County College tried that, and look where it went. Almost all the money went right down the drain on unqualified students who never should have been enrolled in the first place.

What will the USA look like in 50 years? Nothing like it does today.

What were those home loans called back before the bubble burst? You know, the stated-income applications where you could put down any amount and get accepted for a loan you didn't stand a chance of paying off?

Fraudulent mortgage applications, over-valued appraisals, mortgage-backed securities... Why aren't all those crooks in prison? Want to read a good book about all that? Read Fatal Error, by Michael Ridpath.

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