Remember the “housing bubble” and how it destroyed the economy? People of little or no means got loans for homes with no down payment. When they could no longer afford the mortgage they just walked away. Then the domino affect took over, exacerbated by downsizing and job loss and you get the economy or what’s left of it. Lesson learned.
Then why would the Obama administration allow Justice to do this?
“A sampling of Mr. Perez’s thinking, from April 2010 congressional testimony: “The foreclosure crisis has touched virtually every community in this country, but it disproportionately touches communities of color, in particular African-Americans and Latinos.” And: “[C]ross burnings are the most overt form of discrimination and bigotry. Lending discrimination is some of the most subtle. It’s what I call discrimination with a smile.”
So Justice is going after the lenders to punish them for “race” discrimination. Gee, what will that do to the lenders? How will it affect the economy? What will happen to those loans down the road? Can you say “GOODBYE” to your home equity and the economy! Someone needs oversight on the Justice Department.