Thread: Thompson Blames Immigrants For Mortgage Crisis

This is true of both legal and illegal immigrants. There are illegals who do own property. In my condo complex I have one in by building where the owner was deported and often in the media's sob story the people being deported own a house or condo. Also most foreclosure stories you would read about were mostly about Hispanics. I must add that not only did it happen with Hispanics but Russians as well. I used to see it in the Russian papers and magazines where the mortgage brokers would advertise in Russian and had people who spoke Russian on staff just like the realtors.

http://cbs4.com/politics/fred.thompson. ... 18574.html

Thompson Blames Immigrants For Mortgage Crisis
LOS ANGELES, CA (CBS4) ― Republican presidential candidate Fred Thompson has placed part of the blame for the current mortgage crisis on immigrants.

"A lot of them couldn't communicate with the people they were getting the mortgage from," Thompson told an Iowa audience during his "Clear Conservative Choice bus tour" according to a report in the Los Angeles Times.

Some of thos in the audience also expressed their frustration that even phone message options are recorded in Spanish.

"Everything is in Spanish," said Janice Easley, "It's sickening."

"You are so, so right," Thompson said.

Thompson's anti-immigrant rhetoric came as the former Tennessee senator tried to breathe some life into his lackluster campaign.

Thompson who joined the race in September and has watched as his campaign has slowly fizzled over the last few months. This month's Yahoo/Associated Press poll finds he's retained just over half of those who supported him in November.

(© MMVII, CBS Broadcasting Inc. All Rights Reserved.)

Preditory lenders financing houses that people can't afford. High enterest rates, even on crappy homes. When they default the preditor doesn't loose.

Dixie

You can't blame the illegals for this. The lenders should take the blame for giving loans to people who are not here legally and/or trackable.


The onus is on the lender.

Took the words right out of my mouth ArticleIV. You better believe they are to blame. For some reason every one of these lenders thought this to be a safe risk. I am sure that Bush told them that it was a safe risk. They deserve what they are getting and I hope they all shut down for good.
The old saying (What goes around comes around) is a perfect example of what is going on here.

I'm starting to really like this guy. He must be taking a gang of heat from his Hollywood buddies for this.

Basically in Miami the immigrants were being ripped off by their own people. In the past that is why immigrants learned to speak English and dealt with banks. These brokers would advertise claims that were unbelievable. I recall seeing ads in the Russian publications how you could borrow $500,000 for a home with 0 down and payments of $750 a month or maybe even less. Then these people's employers which were often their own people would write letters regarding how much income they were making and often times inflated that amount. They preyed on people who came from countries where there was no credit or they were unable to get any which is the saddest part as they had no clue about credit. I have a Russian woman on the floor below me who is in foreclosure right now due to that.