On the foreclosure front, big news here. Eric Holder and attorneys general from 42 states have shaken down the country’s mortgage lenders for $25 billion. Folks, this whole notion of these predatory lenders and people being tricked into taking out a mortgage, have you ever heard of that happening? People wandering innocently by a bank on the street and some guy inside the bank with a hook grabs ’em in, “Okay, pal, you’re taking out a mortgage.” That’s what the regime wants us to believe happened with this.
So as part of a campaign effort here, reelection effort, $25 billion from the country’s mortgage lenders to give to customers who were hit upon and forced, under duress, to take out a mortgage… (interruption) What was that? Can you get a piece? Perhaps. I think everybody’s share comes out to as much as $20,000. You might get paid off as much as $20,000 here if I’m reading it right. Now, what this is, folks, is social justice at work, because after all, the banks were forced by the government at the point of a gun to loan to people they knew couldn’t afford the mortgages. That’s what really happened. That’s the root of the subprime mortgage crisis. It was the government forcing the banks to lend money to people that never had a chance, would never be able to repay the loans. Social justice, affordable housing, the so-called good intentions and don’t judge us on the failure of our results.
So now the banks have the pay the price for making those bad loans. This is all part of continuing the ruse that the banks were the originators of this scandal and the originators of the problem. And so now there’s a $25 billion shakedown. I’m gonna tell you, Snerdley, you can apply for it, but I’m gonna tell you — all of you mortgage people — you are not gonna see a dime. This is nothing but a slush fund. What Obama has done was gone to the bank, ’cause they’re having trouble fundraising. They’re nowhere near their billion dollars they’ve been bragging about. You ought to see what they’re gonna do at their convention. They’re gonna charge, what is it, a million dollars for a skybox. A million-dollar donation or something like that, to witness Obama’s acceptance speech. I think there’s a million-dollar charge or donation for something.Continue reading on www.rushlimbaugh.com