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Playbook: Cry racism when minorities do not qualify for mortgages

By Steve McGough / July 14, 2009 /

One of the biggest problems that caused the mortgage “crisis” was lending money to people who could not afford to pay it back. Fixing that problem required lenders to pay attention to income, credit scores, savings habits and debt ratios. Guess what happens?

Thomas Sowell On The Housing Crisis

By Jim Vicevich / February 24, 2009 /

Thomas Sowell is a very bright man with uncommon common sense. A guest on my show only once (he is very tough to nail down), a free market thinker he does a great job of tracing the root cause of the current financial crisis, an even if you are one to believe that “greedy bankers”…

Governement Promotes Subprime Loans – Gets Caught

By Steve McGough / April 3, 2008 / Comments Off on Governement Promotes Subprime Loans – Gets Caught

There is quite a bit of blame going on concerning the so-called subprime loan crisis. Depending on who you speak with, it’s either the predatory lenders that took advantage of people, or it was the people who signed the contract that clearly stated they were buying into an adjustable rate mortgage, but just didn’t care.…

A bank you should do business with – East Bridgewater Savings

By Steve McGough / March 17, 2009 /

If you ran a bank that had zero loan defaults, no foreclosures on the books and none expected, how do you think your institution should be rated? If you’re the FDIC, you issue a needs to improve rating since the bank did not loan out enough money according to standards set by the Community Reinvestment…