Rita Sklar's claim of scapegoating is correct, but the scapegoating is from bankers in Oklahoma trying to blame economic downturns on immigration reform activist for their sub-prime loans to illegals! The study put forth by the Arkansas Friendship Coalition is lie! I got this message from IRON-"The Oklahoma economy is going to maintain a stronger economy than all states around us because we cut off at least 6,000 off medicaid programs, 40,000 Illegals have left Oklahoma, taking their children out of school. ICE is cooperating with us and helping detain and deport a bus load of illegals driven to the border EVERY DAY. no, Oklahoma economy is doing very well.
The Arkansas Friendship Coalition is handing out the pro-illegal "study" to state legislatures. Below is a flyer handed out a year ago by Immigration reform activist in Oklahoma.
IRON’s April, 2007 flyer to Oklahoma Legislators
It appears the Economic Impact Group study is a year too late.
Oklahoma Bankers Association knew an economic downturn was coming due to reckless lending. Their resulting loan defaults and halted housing developments are from their own careless loan practices – NOT from HB1804
*************************************
HOUSE OF CARDS BEGINNING TO TOPPLE
Foreclosures May Hit 1.5 Million in U.S. Housing Bust Worst in 16 years
* NO MONEY DOWN LOANS + 125% loans + loans to illegal aliens CRASHING
* 1.5 million more Americans may lose their homes,
* Another 100,000 people in housing-related industries could be fired,
* 24 Mortgage Companies have closed or trying to resell.
* Fallout estimated in 100 additional subprime mortgage lenders may go under, according to realtors, economists, analysts and a Federal Reserve governor.
http://quote.bloomberg.com/apps/news?pid=20670001&refer=&sid=aY3mu1qdRq94
New Century Gets Default Claims, Says It Lacks Cash - Second-biggest subprime mortgage lender out of cash to pay creditors - lenders including Morgan Stanley, Citigroup Inc. and Goldman Sachs Group Inc. about $8.4 billion. WORST IS YET TO COME!
Ripple Effects Accredited, not immune to the deplorable conditions in the subprime space. Fremont, shut its subprime lending operations last week under pressure from U.S. regulators.
OceanFirst Financial Corp.,holding company for OceanFirst Bank, says it will revise 2006 earnings because buyers of some of its subprime loans are forcing the company to take them back. The bank offered loans starting last year through the Columbia Home Loans unit -- are already defaulting, the Toms River, New Jersey-based lender said. The loans offered to cover 100 percent of a home's value. Subprime loans, a term applied to some of the riskiest home mortgages, are given to risky borrowers at interest rates 2%- 3% higher and have low initial ``teaser'' rates that adjust higher in later years. Delinquencies were 12 % in the third quarter. Now 20% unemployment among illegal aliens could be a cause.
CNN MONEY REPORTS RIPPLE EFFECT TO BE SEEN SOON
http://money.%20cnn.com/2007/%2003/12/news/%20companies/%20subprime_%20brokerages/%20index.htm
IRON Group
P. O. BOX 1204
Jenks, OK 74037 918-906-6027
_________________
No comments:
Post a Comment