Join the forum, it's quick and easy

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Stillnutty passed away
The Fed's Credit Report EmptyWed Feb 06, 2019 3:59 pm by Sad American

» UF2 Members Chat Thread: Part 3
The Fed's Credit Report EmptyThu Mar 02, 2017 1:02 am by DesperateInRI

» UFO 2.1 VIDEO JUKEBOX - Our Chords & Keys To Ascension
The Fed's Credit Report EmptyWed Mar 01, 2017 8:19 pm by DesperateInRI

» I see this board has been quiet
The Fed's Credit Report EmptyTue Jun 07, 2016 1:24 pm by Knight1009

» Hello Ya'll. *Theirmommie*
The Fed's Credit Report EmptyTue Nov 17, 2015 9:42 am by my_lucid_bubble72

» 20 % of Americans Struggle To Buy Food
The Fed's Credit Report EmptyThu Jul 16, 2015 1:00 pm by pbrad009

» The Make Some One Day Challenge
The Fed's Credit Report EmptyWed May 27, 2015 12:32 pm by Prof_NSA

» Clues to why they not hiring you
The Fed's Credit Report EmptySun Apr 05, 2015 5:25 pm by Sandra5yearsunemployed

» New Year Nothing Change
The Fed's Credit Report EmptyTue Jan 20, 2015 5:48 pm by Prof_NSA

» Passed?!?! H.R. 3979: Emergency Unemployment Compensation Extension Act of 2014
The Fed's Credit Report EmptyFri Dec 19, 2014 4:24 pm by charliekerper

» Forbes: America's #1 Problem is Jobs, Not Debt
The Fed's Credit Report EmptySat Nov 15, 2014 10:50 pm by jmainframe

» Economy just getting worse
The Fed's Credit Report EmptyMon Oct 06, 2014 12:16 pm by oncemore

» January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent
The Fed's Credit Report EmptyFri Oct 03, 2014 11:23 am by DesperateInRI

» Hey Guys!!!!
The Fed's Credit Report EmptyMon Sep 29, 2014 9:17 am by pbrad009

The Fed's Credit Report EmptyThu Sep 25, 2014 11:56 pm by pbrad009

Social Networks
July 2024

Calendar Calendar

The Fed's Credit Report

Go down

The Fed's Credit Report Empty The Fed's Credit Report

Post by sbraney Fri Mar 11, 2011 2:14 pm

This is a damned disgrace - I've been trying to explain to people what the following article clearly articulates. As the unemployed recognize, there isn't a lack of skills in this country, but a lack of jobs due to outsourcing. The two areas that are doing well, because the pundits have convinced the gullible americans that their kids won't have a chance in this economy unless they jeopardize the equity in their homes - using it as collateral to obtain the loan that their son/daughter needs to get an education - indebting their kids and perhaps themselves for a lifetime since student loans ARE NOT dischargeable in a bankruptcy and will follow both to the grave - they will garnish wages including social security. AMERICANS MUST UNDERSTAND THIS - in addition, cars can be repossessed...the gangsters are at it again::: What's worse is that the taxpayers will need to bail them out again as they are back at the trough, playing the same games that got the globe into this financial disaster.

The Fed's Credit Report

"What's disturbing about the report is that the two main areas of improvement are auto loans and student loans.

So, we're back to "Square 1", right? GM is offering "72 months zero percent financing" to people with dodgy credit. And then the dodgy loans are being chopped up, glued together, and sold to as bonds to "yield seeking" institutional investors around the world.

The credit issued via student loans soared from $317 billion to $342 billion from December to January, a $25 billion windfall in just one month. But, as we pointed out in an interview with Professor Alan Nasser, the student loan business is the biggest swindle of all. Bigger than subprime by many orders of magnitude. Here's an excerpt from the interview:

MW--Is it fair to say that the student loan industry is a scam that targets borrowers who will never be able to repay their debts?

Professor Alan Nasser---"It's as fair as fair can be....How many of these students are subprime borrowers? That is, how closely do student loans resemble junk mortgages? The answer hinges on three factors: how these loans are rated, how likely the borrower is to repay, and the default rate on student loans."


Posts : 94
Join date : 2011-02-20

Back to top Go down

Back to top

Permissions in this forum:
You cannot reply to topics in this forum