The headline, long as it is, pretty much says it all. A few months ago, El G Grande spotted the attempt by the members of the pop media to depict TARP as a success, bringing a PROFIT to the federal gubment. This was not the case, and only NOW are we seeing reports that the TARP theft is not paying off.
Duh. No kidding.
But here, Gard moves to remind people like Judd Gregg, the Senator who said TARP would make a profit, that he was wrong, and we knew it last year! Check this out! Tell as many people as you can! Be Seeing You!
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jmb27
Jan 17, 2010
Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.
Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
“Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM.”
The Center for Responsible Lending says YSP “steals equity from struggling families.”
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F