Monday, September 29, 2008

Illegal Immigration and the Subprime Mortgage Crisis Hits Kansas City

"Two Leawood women have been sentenced to probation for helping illegal immigrants commit $7.7 million in mortgage fraud through the use of stolen Social Security numbers.

The three were originally charged with 23 counts linked to transactions between 2003 and 2004. Prosecutors also said the women earned $128,000 in fees from the fraudulent loans and $228,000 in real estate commissions.

Johnson County Judge James Franklin Davis asked prosecutors Friday why they approved such a light sentence. Assistant District Attorney Patrick Carney said that because only four of the fraudulent loans went into default, federal officials didn't want to prosecute because of the small amount of losses."


The Hays Daily News has the full story.

2 comments:

Anonymous said...

Today, illegals are helping to destroy the economy with their sub-prime loans.

Tomorrow, it will be all about the jobs illegals are taking away from us when unemployment hits double-digit numbers.

When the bottom falls out of the economy and jobs become scarce, citizens will finally realize that having illegals in our country that don't pay for their illegal loans and take away even the most minuscule jobs are hurting us pretty bad.

During the great depression, men traveled literally hundreds of miles to find work. If that happens today and men find those jobs already taken by illegals, you better believe there will be hell to pay.

I have talked to many union carpenters who are out of work and already pissed off that illegals are taking their jobs. When push comes to shove, these guys are not going to sit idly by and watch their families starve while illegals take their money and send it off to another country.

The same is true for out-sourced jobs to other countries. Many highly educated folks burdened with heavy student loans are watching their jobs bounce overseas so monster companies like AT&T can save a buck and have lower prices. But if jobs get scarce, AT&T will just have to do without customers as folks can't afford their services even at low rates.

I believe this nation is at a tipping point. The political parties are in for a shock. Union workers are feeling betrayed by Democrats who are throwing illegal slave-labor into jobs where union workers should be. And Republicans are going to get their due reward when not even a four-year degree will get you a decent job these days.

America, stop and look at your political parties! They're screwing us sideways and now they BOTH want us to bail them out of this economy! Look at the candidates - their both equally WORTHLESS.

This economy is going down. We've been living in a dreamland where personal debt is like a huge stone tied around our necks and at the same time political correctness is teaching us to walk off that cliff. Are we really that stupid? Are we really so blind? Maybe economic chaos is just what we need to slap us in the face and wake up.

God help us.

Tony said...

"The women were not given prison time, partly because only four of the 102 mortgages received by the undocumented workers have gone into default."

http://www2.ljworld.com/news/2008/sep/28/agents_sentenced_mortgage_fraud/

More flimsily evidence James.

Only 4 bad mortgages out of 102 makes illegal immigrants more reliable than all subprime mortgage holders.