Posted: Today 2:24:43 AM EST
 Tricolor Runs Out of Gas I voted for this. |
I sell firearms produced by the finest child labor in the world, be it Filipino, Muslim, Mormon, Arizonan, or Texan.
RIP:LTC D.Cabrera/SGT C.Newman-29OCT11-OEF
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A 100 million dollar initial investment by JP Morgan, increased to 700 million. Then, they find out the collateral wasn't there to back the loan? lol But, .. . but, .. Fannie Mae and Freddy Mac said it was ok to ignore credit history, low credit scores, income and job history. Yup, all boxes checked; Everyone gets a new home on an ARM or Balloon mortgage. The real estate market blows up in 2008 Tricolor files chapter 7. What could go wrong? I'm not a banker or economist, but, maybe some of these folks should find a new line of work. |
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BEFORE: Giving loans to illegal aliens and criminals? What could possibly go wrong? I’m in! Take my money! AFTER: I don’t understand how this failure could have happened. What can we do to help these poor illegal aliens again? Even after losing billions because of their dishonesty, they won’t admit that illegal aliens an economic threat to the country. They don’t contribute nearly enough for the labor they provide to offset the costs. |
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Originally Posted By Cooper1: Aren't they just going to find a way to put that on everyone else? Banks won't lose. I don't think so in this case. These loans were private and not backed by the Fed. According to the video, the divestment/liquidation figures were 2 billion, which is most likely inflated. Then again, it is a bank, and banks get bailed out for doing stupid shit. Same as it ever was. |
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Originally Posted By M1907Sling: Wasn't it the Klintoon "administration" that demanded banks make housing loans to people with bad credit, who then (surprise!) defaulted, causing the housing crash? Libtards never learn.  Yes, and the loans were limited to low amounts, it was the 90's. Then some dumbasses at Freddy and Fanny asked for the loans to be increased to stupid levels and other great things like no income verification......... then it was 2008. |
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Originally Posted By Kharn: Did they check Boston Airport's parking lot?  Estimated 1,000,000+ cars drove across the border and will never be seen again. |
WTF is up with this bullshit anti-bayo lug crap. Was there a group of irrate japanese guys bonzai charging disabled school children and puppies that I wasn't aware of?
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Originally Posted By Climbmadone: Yes, and the loans were limited to low amounts, it was the 90's. Then some dumbasses at Freddy and Fanny asked for the loans to be increased to stupid levels and other great things like no income verification......... then it was 2008. Originally Posted By Climbmadone: Originally Posted By M1907Sling: Wasn't it the Klintoon "administration" that demanded banks make housing loans to people with bad credit, who then (surprise!) defaulted, causing the housing crash? Libtards never learn. Yes, and the loans were limited to low amounts, it was the 90's. Then some dumbasses at Freddy and Fanny asked for the loans to be increased to stupid levels and other great things like no income verification......... then it was 2008. That originally was the Community Reinvestment Act of 1977, Jimmy Carter. Maybe it got expanded under Clinton. |
"The past is a foreign country; they do things differently there."
L.P. Hartley
L.P. Hartley
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Originally Posted By FZJ80: That originally was the Community Reinvestment Act of 1977, Jimmy Carter. Maybe it got expanded under Clinton. Correct, but during the Clinton Admin, the "Housing and Community Development Act, (1992) was born. Lending was a discriminatory thing back then. Bill thought everyone should have a home, regardless if you could pay for it. .. .. or not. .. lol |
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We once seized several Kilos of meth from some illegal mexicans in a buy/bust in Atlanta. A local dealership (name brand) had sold them the slightly used, nice Lexus luxury vehicle they were in. The dealership still had a lien on it and the Mexicans owed a good chunk still. The vehicle loan was in the name of the illegal drug runner and knew the dealership sold it knowing he was illegal, no license, etc. As we sat down to ask about the buyer they basically admitted to selling cars to illegals all them time and chuckled about. They knew we were investigators and we were recording. We moved forward and seized the car, lien and all, from the dealership based on their knowing they sold to illegals knowingly. They didn’t challenge it and were out the remaining balance of 30k. |
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We are the Knights who say Fuuuuu!
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Originally Posted By ServusVeritatis: We once seized several Kilos of meth from some illegal mexicans in a buy/bust in Atlanta. A local dealership (name brand) had sold them the slightly used, nice Lexus luxury vehicle they were in. The dealership still had a lien on it and the Mexicans owed a good chunk still. The vehicle loan was in the name of the illegal drug runner and knew the dealership sold it knowing he was illegal, no license, etc. As we sat down to ask about the buyer they basically admitted to selling cars to illegals all them time and chuckled about. They knew we were investigators and we were recording. We moved forward and seized the car, lien and all, from the dealership based on their knowing they sold to illegals knowingly. They didn’t challenge it and were out the remaining balance of 30k. Unless it is a "Buy Here - Pay Here" used car shop, the dealership isn't out a penny. The dealership sold that loan to a lender BEFORE that vehicle ever left their lot with the customer. The LENDER has the Lien, and most likely challenged it in court. Even if they were to lose in Court, (highly unlikely unless the Court could prove the lender actually knew the buyer specifically intended to commit crimes.). The Lender likely hedged any risk with insurance on their loans / liens. Like everything else, the cost is always going to be spread down & ultimately paid by all consumers. Bigger_Hammer 
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LIFE'S JOURNEY IS NOT TO ARRIVE AT THE GRAVE SAFELY IN A WELL PRESERVED BODY,
BUT RATHER TO SKID IN SIDEWAYS, TOTALLY WORN OUT SHOUTING "HOLY $H!T...WHAT A RIDE"!!
BUT RATHER TO SKID IN SIDEWAYS, TOTALLY WORN OUT SHOUTING "HOLY $H!T...WHAT A RIDE"!!
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Originally Posted By Silverbulletz06: Estimated 1,000,000+ cars drove across the border and will never be seen again. Originally Posted By Silverbulletz06: Originally Posted By Kharn: Did they check Boston Airport's parking lot? Estimated 1,000,000+ cars drove across the border and will never be seen again. Nothing new, years ago we found out the Mexican Federales were driving a recently stolen Ford F150 P/U from Virginia, when asked to return it, they said FU. Info is dated but it only costs about $4K to ship a connex container from the Port of Baltimore to the West coast of Africa. Hint: Customs doesn't really check outgoing containers. A Tunisian, signed for two luxury SUVs, no money down and rented another luxury SUV under his livery company, loaded them on a connex container. Abducted his kid from Ex wife and went home. Tunisia doesn't have an extradition treaty with the U.S. |
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Originally Posted By M1907Sling: Wasn't it the Klintoon "administration" that demanded banks make housing loans to people with bad credit, who then (surprise!) defaulted, causing the housing crash? Libtards never learn. Yep. Some tard on X tried to argue with me that W caused the crash. |
Now she's making $15 an hour as a 'tard wrangler with a degree in women's studies... - tommytrauma
We are the Knights who say Fuuuuu!
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It's been no surprise that there is a lot of Subprime auto leading. Since the Real Estate bust of 2007-2008 mortgage requirements were tightened significantly and lending is like a balloon, squeeze on end (mortgage) and the money just flows somewhere else (auto loans & credit cards). Subprime Auto Loans have been a huge segment of the market for a decade because their is a lot of demand and the rates are extremely high. The concern has been there for years of another lending disaster if the economy slows down or enters recession & suddenly defaults skyrocket. TriColor wasn't the first & certainly will not be the last. Bigger_Hammer
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LIFE'S JOURNEY IS NOT TO ARRIVE AT THE GRAVE SAFELY IN A WELL PRESERVED BODY,
BUT RATHER TO SKID IN SIDEWAYS, TOTALLY WORN OUT SHOUTING "HOLY $H!T...WHAT A RIDE"!!
BUT RATHER TO SKID IN SIDEWAYS, TOTALLY WORN OUT SHOUTING "HOLY $H!T...WHAT A RIDE"!!
