TV News LIES

Tuesday, Dec 12th

Last update05:20:13 AM GMT

You are here News Economy Confessions of a sub-prime mortgage baron

Confessions of a sub-prime mortgage baron

E-mail Print PDF

The former loan company boss now sees himself as little better than a mid-rank drug dealer.

"I almost look at the mortgage industry kind of like the drug trade. Wall Street and the investment banks are the Bolivian drug lords," he says. "You look at this and you go: What were we doing? Who doesn't want the feeling of euphoria? Who doesn't like to get money?"

He continues: "Wall Street, the drug lords, were creating this product. Lenders and brokers are the street dealers who were largely making it available based on a consumer desire; a want for it."

More...


Most Recent Related Stories...


U.S. trade gap soars as imports from China hit record high

trae deficit soars The U.S. trade deficit jumped 8.6 percent in October as imports from China and other suppliers...

Richest 1% now owns half the world's wealth

Richest 1% own half the world's wealth The wealthiest 1% of the world's population now owns more than half of the world's wealth,...

The GOP tax plan could negatively affect your Social Security benefits

Tax reform? No, tax CUTS for the wealthy!Without a guaranteed monthly stipend, the number of seniors living below the federal poverty level could...

After a Tax Crackdown, Apple Found a New Shelter for Its Profits

Apple found new island to shelter its billionsIt was May 2013, and Mr. Cook, the chief executive of Apple, appeared before a United...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!