TV News LIES

Sunday, Feb 25th

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...


Dow Jones plunges 1,000 points as inflation fears spook investors

Stock Market plunges more than 1000 points Wall Street was on Thursday heading for its toughest week in more than two years after...

Dow plummets 665 points, capping worst week in 2 years

Stock Market U.S. stocks fell sharply on Friday after a stronger-than-expected jobs report sent interest rates higher. The Dow...

U.S. Stocks Plummet, Erasing Gains for the Year

US stocks plummetU.S. stocks plunged, sending the Dow Jones Industrial Average down almost 1,600 points, as major averages...

Bombardier Gets Surprise Win After U.S. Rebuffs Boeing Trade Case

Bombadier wins right to ship to US without tariffBombardier Inc. can start shipping C Series jets to Delta Air Lines Inc. as scheduled after...
 
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!