Washington Times: Illegal immigrants to blame for credit crisis

[Bootylicious!! 2]

IMO, if banks were stupid@ss enough to loan money to people without the proper paperwork then they deserve to go down. I know here in NC you have to have proper documentation to get any kind of loan, car, house, etc. ITIN numbers don't even work for that because they don't come up as legit socials. I don't understand how illegals are getting the blame for this. Seems to me the stupid@ss bankers should be getting blamed. Of course, it's so much easier to put it off on illegals because they are the cause of everything $hitty in the world.

TWO states that verify status to issue loans... man...

Imagine that?!?!?!

[w¡n9Nµ7 §£@¥€r 123]

Non-residents can buy property and take out mortgages in this country, in any states. How do you think all those Canadians and Europeans and Japanese buy up all those vacation homes and commercial properties?

They just get different rates, that's all.

[EstebanTrabajos 7]

Non-residents can buy property and take out mortgages in this country, in any states. How do you think all those Canadians and Europeans and Japanese buy up all those vacation homes and commercial properties?

They just get different rates, that's all.

Indeed, the difference here is that they ID themselves as foreign investors, which is what they are, not as illegal immigrants.

Keyword here is to VERIFY your identity and legal income.

[Chica Yeyé 41]

Non-residents can buy property and take out mortgages in this country, in any states. How do you think all those Canadians and Europeans and Japanese buy up all those vacation homes and commercial properties?

They just get different rates, that's all.

No no no. It's all the illegals' fault AJ, sheesh. Educate yourself would you please???

[w¡n9Nµ7 §£@¥€r 123]

Keyword here is to VERIFY your identity and legal income.

Yes.

[IAMX 3,055]

Non-residents can buy property and take out mortgages in this country, in any states. How do you think all those Canadians and Europeans and Japanese buy up all those vacation homes and commercial properties?

They just get different rates, that's all.

Indeed, the difference here is that they ID themselves as foreign investors, which is what they are, not as illegal immigrants.

Keyword here is to VERIFY your identity and legal income.

With this self-regulation we had, verifying income was easy as lenders were more than willing to help you inflate both income and credit to justify loans that were likely beyond one's means once the higher interest rate kicked in. Of course, this is only an "illegal immigration" issue because some want to actually focus on the extremely small percentage that have anything to do with illegal immigrants. Usually the people who always whine about illegal immigration and are looking for a reason to bring it into any debate they can.

[Peikko 1,575]

Is the argument really that if there were no illegal immigrants this situation would never have arisen? That's ####### - it may well be true that the presence of illegal immigrants made an already bad situation worse but I have no idea how one could accurately quantify this.

Edited September 30, 2008 by Madame Cleo

[w¡n9Nµ7 §£@¥€r 123]

Is the argument really that if there were no illegal immigrants this situation would never have arisen? That's ####### - it may well be true that the presence of illegal immigrants made an already bad situation worse but I have no idea how they are quantifying this statement.

Mexican people fvcked this up for the rest of us!

When do we invade?

[IAMX 3,055]

Is the argument really that if there were no illegal immigrants this situation would never have arisen? That's ####### - it may well be true that the presence of illegal immigrants made an already bad situation worse but I have no idea how they are quantifying this statement.

Mexican people fvcked this up for the rest of us!

When do we invade?

When General Aficionado becomes less subtle and just outright declares war on Mexico.

[EstebanTrabajos 7]

I have no idea how one could accurately quantify this.

Weed or, since they are rich mofos, Vicodin and Prozac.

When General Aficionado becomes less subtle and just outright declares war on Mexico.

As I said, Vicodin and Prozac effects.

Edited September 30, 2008 by GueraYTavo

[Gigli2008 70]

No, I am saying that the banks should have stuck to the principle that one of the qualifiers for eligibility for mortgage is legal residency or citizenship.

That has never been a principle. Foreigners have always invested in real estate here. Heck, half the commercial properties in Manhattan must be owned by non-resident Japanese and/or Europeans.

It is a principle in Texas. You either buy cash (which is okay) OR if you need a loan, you have to prove legal residency or citizenship. I do work for Frost Bank - A big bank in Texas. Another Texan from El Paso on this thread says the same thing.

[Peikko 1,575]

Oh noes! I see brown people!

In other words nothing legitimate to say apart from resorting to bull #######.

Is the argument really that if there were no illegal immigrants this situation would never have arisen? That's ####### - it may well be true that the presence of illegal immigrants made an already bad situation worse but I have no idea how they are quantifying this statement.

Mexican people fvcked this up for the rest of us!

When do we invade?

A.S.A.P, a nice Mexian/USA war would really boost the economy and all those US citizens who would feel this was a just war? Can't beat that with a big shitey stick now can you?

[EstebanTrabajos 7]

It is a principle in Texas. You either buy cash (which is okay) OR if you need a loan, you have to prove legal residency or citizenship. I do work for Frost Bank - A big bank in Texas. Another Texan from El Paso on this thread says the same thing.

Word

A.S.A.P, a nice Mexian/USA war would really boost the economy and all those US citizens who would feel this was a just war? Can't beat that with a big shitey stick now can you?

WOOHOO! World War III baby, and wait until Chavez and Putin get their party started and there will be fireworks on our 4th of July baby!! AUUUUCH!

Edited September 30, 2008 by GueraYTavo

[Chica Yeyé 41]

[HAL 9000 96]

If Congress and the White House are genuinely interested in fixing some of the structural problems behind the mortgage meltdown, here are three things that could actually help the situation:

* Cut or eliminate corporate income taxes. Instead of spending $700 billion to bail out the mortgage industry and banks, give the economy a real boost by cutting corporate tax rates. The United States has the second-highest corporate-income-tax rates among industrialized countries. This tax steals money from IRAs, 401k plans and workers' pension plans. Cutting the tax would send a message to the private sector that Washington will reward productive, entrepreneurial activity instead of throwing good money after bad.

So now you support McCain??

I've already voted (via absentee ballot) so at this point I can support whoever I want!

Whea is you now AJ??

I also voted absentee... woo hoo!

I'm at work. NJ lets you vote absentee now for no good reason - just because. I hate goign into the polling station and parking and standing in line. I hate having to either wake up earlier to go in before work or having to get home later if I go after work. This was just easier

Cool. My legal residency is in a battleground state. So I am happy to contribute.