Monday, July 21, 2008

FDIC/Fed Gov Engaging in Predatory Lending

"Federal officials heap much of the blame for the subprime mortgage mess on lenders, claiming they recklessly made too many high-cost home loans to borrowers who couldn't afford them.

It turns out that the U.S. government itself was one of the lenders giving out high-interest, subprime mortgages, some of them predatory, according to government documents filed in federal court."

Whee! There'd only be better material for Real C'ville - The Bubble Blog if we began writing fiction.

Read about FDIC Faces Mortgage Mess After Running Failed Bank.

5 comments:

matt s. said...

Oh yeah... I saw this earlier today. This is fscking great isn't it? Another fine display of the .gov as just another rip-off con artist. I hate govt. lotteries too. Everywhere you look are wolves. I of course have said this for years but now I get to say I told you so almost every day. Life is good :/



(Can I say fscking here? I don't want to be the first one to crap on your carpet... oops... )

matt. s. said...

btw, did you guys see Scottsville in the NYT a few days ago?

http://tinyurl.com/5hb6w3
(NYT Online)

big news today is Wachovia Bank ceasing mortgage lending:

http://tinyurl.com/5udcpl
(Charlotte Bizjournal)

In Memoriam: Kat Kinkade, founder of Twin Oaks community, left this world last week:

http://tinyurl.com/5huqtv
(Washington Post)

Real C'ville - The Bubble Blog said...

Matt,

we don't censor here: you may use whatever language best expresses your point. and every carpet must have its first...poop.

scroll back a few posts...we linked to NYTimes Scottsville article. Adding interest to this, though, is the link provided in the comments....

The Wachovia news was a rumor this afternoon...and now it's verified....

Montpellier said...

Matt S. wrote:

fscking

Hmm...another IT weenie...what is it w/ IT weenies and bubbles (see Aaron Krowne of ML-Implode and Bubblemeter).

matt s. said...

ohai2u2 montpelier! your slashdot is showing :D


you know I've got the implode-explode rss feed. so techies get the blame for this one too I guess :/

"... and I would have succeeded too... if it wasn't for those blogging kids!"