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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: lorne who wrote (96584)	12/9/2010 9:30:34 PM
From: MJ	Respond to of 224749

Didn't you know---it's the 'in thing' to go shoppng for foreclosed houses or short sales. One need look no further than some of the major players reponsible for the collapse----------Washington Mutual Bank, yes of Washington State and known as WAMU is one of the major banks who fueled the mess WAMU fed on the Mortgage Brokers (different from Real Estate Agents) to feed them loans. Mortgage Brokers preyed on buyers and homeowners seeking refinancing , taking hefty finders fees and loan origination fees. In addition homeowners paid Realtors Commissions of at least 6%--------based upon a price fixing system amongst the brokers and realtors. Mortgages were bundled and sold to investors-. Thus WAMU and their networks deceived-----stockholders, investors and buyers and homeowners, It is a house of cards slowly tumbling. This mortgage mess is as big as Enron or Worldcom--------people were deceived by the industry that was built around hype. In fact I would say it is larger than Enron or Worldcom as the fraud has cut deep into the heart of America. Yes, America has the measles------fueled by many unscrupulous carriers.