Originally Posted by rich-allen

I just wanted to point something out here: Citibank lead the charge to loan money to illegal Mexicans. They went as far as hiring over 400 Spanish speaking mortgage finance pros.
These guys would go around and help illegals get loans without documentation and even jobs! All they needed to say was that they did landscape work under the table and they were golden.
Add twenty friends from the home land and suddenly you have a bunch of illegals with 13 cars and a house they turned into one BIG MATTRESS.

As soon as they defaulted on the loan, many took sledge hammers and destroyed the homes turning them virtually into junk.

One of my employees just bought his house and he told me that 5 out of 10 homes he looked at were damaged in this manner and 8 out of 10 had extensive remodeling done so the home could sleep 20+ people.

Now we find out Citibank has $1.4 Trillion in bad home loans.
I'm sure everyone can remember when Bank of America followed suit.
All these banks were jumping on the band wagon attempting to loan to illegals. A market untouched (for a damn good reason).

I would rather see the big three get $100 billion each than see these back stabbing banks get a dime!!


Sorry, I had to rant.

Rich