If sub-prime loans were at the root of our financial crisis, why are we still writing them? Two agents living near me work for American companies writing sub-prime loans out of their homes. They are getting wealthy writing loans to illegal Mexicans who live in the U.S., and also Mexicans who live in Mexico. One of these agents told me his company has been assured that losses if any will be covered by the Obama bail-out.
Can anyone help me understand why we tolerate this? This is total treason. We citizens put up the money, if the loan fails we cover that also.
Can anyone help me understand why we tolerate this? This is total treason. We citizens put up the money, if the loan fails we cover that also.