Sunday, February 15, 2009

60 minutes World Of Trouble--World Savings Video

This 60 minutes video will make you sick. The kinds of lending practices you will see in this video were common place. There was one single goal--to create fee income and enrich management at the expense of ordinary Americans.
Three years before the housing market crash, Paul Bishop says he warned his superiors at World Savings - the nation's second largest savings and loan company - that many of the mortgages they were granting were misleading and predatory.

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I have written many times about the housing scam and Options Arms--The Toxic Mortgage

From All American Investor