Real Wealth Society

Friday, April 11, 2008

Lehman Loses $300 Millon on Stated Loans By Mr Mortage

Lehman brothers has anounced today that they have lost $300 million from one borrower on their super stated income loan business....

So these are the banks that we need to bail out? Did they "lend" $300 million to a couple of Modern Day Ocean's 11 style financial heist crew? They realized there was a problem when they didn't get the payment?! Maybe they should have examined a little more than two executives and some letterhead. Mr.Mortgage's opinion regarding your tax dollars is NO BAILOUT!



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