Biggest defaulters on mortgages THE RICH

[Gadawg73]

As reported in all mortgage data. Read NYT article today.
I have been telling you this for a long time.
It was not the middleclassand lower middle class from some government program forcing the banks to lend $ as right wing conspiracy kooks spouted.

 

[blastoff]

Well, you know what they say about fortunes and favoring and whatnot.

 

[Avatar4321]

hate to break it to you, but if they are defaulting, they ain't that rich.

 

[Truthmatters]

HAHAHAHAHAHAHAHAHAHAHAHA!

They are not defaulting because they cant pay you idiot.

they are defaulting because their property is no longer a good investiment.

Jesus you rightiest are stuupid fucks.

 

[Mr Natural]

The rich are rich because they love money above all else and will do anything to acquire and hang on to as much as they can even if it means screwing a lender out of what is rightfully theirs.

 

[ba1614]

I don't see a link, what do they deem as "rich"?

 

[NYcarbineer]

As reported in all mortgage data. Read NYT article today.
I have been telling you this for a long time.
It was not the middleclassand lower middle class from some government program forcing the banks to lend $ as right wing conspiracy kooks spouted.

I've been telling them the same thing. The rightwing took the real estate meltdown and did with it what they do with EVERY bad news story,

they manufactured a myth around it that blamed the left. This time they blamed Democrats, liberals, the poor, and minorities. A rightwing four-fer.

It was bullshit then, it's bullshit now, and comically, or sadly, depending how you look at it, despite it being bullshit it will remain an etched in stone 'true' story in the big book of rightwing mythology,

forever.

 

[Big Fitz]

As reported in all mortgage data. Read NYT article today.
I have been telling you this for a long time.
It was not the middleclassand lower middle class from some government program forcing the banks to lend $ as right wing conspiracy kooks spouted.

Well this is a highly suspicious conclusion. I take it more of a sign of EVERYONE who bought too much house is defaulting. The rich just are defaulting later as their 'on paper' wealth evaporates.

Of course this makes Avatar correct in saying, then they weren't that rich. I'd add the words "anymore" to it.

The rich defaulting does not change the fact that Freddie and Fannie have destroyed this economy.

 

[Mr. Peepers]

The rich defaulting does not change the fact that Freddie and Fannie have destroyed this economy.

JEE-ZUS HAROLD CHRIST! For the last time, Freddie and Frannie did NOT destroy the economy and they are NOT to blame for the meltdown. They were among the LAST to lower their lending requirements and 86% of bad mortgages were issued and owned by PRIVATE lenders. Can you please put this lie to bed already? I'm sick of repeating myself.

 

[Soggy in NOLA]

The rich defaulting does not change the fact that Freddie and Fannie have destroyed this economy.

JEE-ZUS HAROLD CHRIST! For the last time, Freddie and Frannie did NOT destroy the economy and they are NOT to blame for the meltdown. They were among the LAST to lower their lending requirements and 86% of bad mortgages were issued and owned by PRIVATE lenders. Can you please put this lie to bed already? I'm sick of repeating myself.

We have also grown weary of your repeated bullshit and propaganda.

 

[mudwhistle]

As reported in all mortgage data. Read NYT article today.
I have been telling you this for a long time.
It was not the middleclassand lower middle class from some government program forcing the banks to lend $ as right wing conspiracy kooks spouted.

Bullshit.

The New York Times is pure Yellow-Journalism.

They can't be trusted.

Most of the defaults were from Sub-prime borrowers...which means those with bad credit and low income.

Next phony story

 

[Mr. Peepers]

We have also grown weary of your repeated bullshit and propaganda.

Now that's rich. You are the biggest "tow the line" neocon hack on these boards. I can give you sources. Can you?

 

[Care4all]

ANYONE who has read anything in depth on this crisis KNOWS it was not fannie and freddie or the CRA that CAUSED this real estate bubble and bubble burst and bank bubble and bubble burst....so do some reading IF YOU REALLY WANT TO KNOW THE TRUTH.....stay away from the blogs and read some facts on those that have done analysis and shown the statistics that support what really happened.

 

[WillowTree]

It was Fannie and Freddie and Fwank.

 

[Truthmatters]

See the stupid can not me talked nice to anymore people.

They need to be labeled the brain dead partisan hacks they are.

They put the republican party over EVERYTHING.

 

[Mr. Peepers]

It was Fannie and Freddie and Fwank.

*Sigh* Even when you know it is a lie - and have evidence that it is a lie, you keep saying it and worse, BELIEVING it. The Republican way.

 

[Truthmatters]

They dont believe anything.

Its about nothing but toweing the party line.

 

[Avatar4321]

See the stupid can not me talked nice to anymore people.

They need to be labeled the brain dead partisan hacks they are.

They put the republican party over EVERYTHING.

I don't think anyone's ever accused you of being a Republican.

 

[mudwhistle]

See the stupid can not me talked nice to anymore people.

They need to be labeled the brain dead partisan hacks they are.

They put the republican party over EVERYTHING.

Which is an excellent example of projection....because the above is all you seem to do dear...putting ideology above everything...including common-friggen-sense.

 

[boedicca]

ANYONE who has read anything in depth on this crisis KNOWS it was not fannie and freddie or the CRA that CAUSED this real estate bubble and bubble burst and bank bubble and bubble burst....so do some reading IF YOU REALLY WANT TO KNOW THE TRUTH.....stay away from the blogs and read some facts on those that have done analysis and shown the statistics that support what really happened.

Au contraire. Anyone who actually understands the financial markets realizes that the CRA combined with the socializing of risk/privatizing of profit nature of Fannie and Freddie are at ground zero of the crisis.

It's a shame you don't want information from the non MSM media. Steve Malanga is an excellent analyst:

RealClearMarkets - Articles - The Long Road to Slack Lending Standards