… on a national level has jumped the proverbial shark. (And yes, using “jump the shark” is meant to be that snarky.)
On the other hand, I’m looking forward to an honest-to-goodness libertarian movement.
And to give my first linked post due, the charade in Nashville is not the entirety of the Tea Party movement, but it is the current brand. And that will be a stink that’s pretty hard to wash off.
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Predatory Lending is a major contributor to the economic turmoil we are currently experiencing.
Here is an example of what I am talking about:
Scott Veerkamp / Predatory Lending (Franklin Township School Board Member.)
Please review this information from U.S. Senator Jeff Merkley regarding deceptive lending practices:
“Steering payments were made to brokers who enticed unsuspecting homeowners into deceptive and expensive mortgages. These secret bonus payments, often called Yield Spread Premiums, turned home mortgages into a SCAM.”
The Center for Responsible Lending says YSP “steals equity from struggling families.”
1. Scott collected nearly $10,000 on two separate mortgages using YSP and junk fees. 2. This is an average of $5,000 per loan. 3. The median value of the properties was $135,000. 4. Clearly, this type of lending represents a major ripoff for consumers.
http://merkley.senate.gov/newsroom/press/release/?id=A09C6A80-537A-4EB1-83C5-31925F046B6F
Comment by jmb27 — February 6, 2010 @ 9:37 am