TV News LIES

Wednesday, May 29th

Last update06:31:28 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...


The Dow Jones hits 40,000 for the first time. What to know about this major milestone

DJ hits 40,000 for the first time The Dow Jones Industrial Average surpassed 40,000 points on Thursday for the first time ever, signaling...

Biden hails ‘America’s comeback’ as 303,000 new jobs in March beat forecast

Biden hailed new job growth numbers The US workforce added 303,000 jobs last month, far more than expected and the 39th straight...

Trump's Truth Social shares are plunging again, erasing billions of dollars in value

Truth Social shares fall again About two weeks since its meteoric debut, shares of Truth Social are slumping, wiping out billions...

U.S. Employers Added Robust 303,000 Jobs In March In Sign Of Economic Strength

Labor Dept.America’s employers delivered another outpouring of jobs in March, adding a sizzling 303,000 workers to their...
 
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!