FDIC in mess over subprime loans

[The OC Scam]

Why is the FDIC in 2002 selling subprime loans? I don’t the FDIC wants the main stream media getting their hands on this??

“July 21 (Reuters) – The Federal Deposit Insurance Corp, a regulator of U.S. banks, is itself embroiled in a mess related to subprime mortgages, the Wall Street Journal said on Monday, citing court documents.

The U.S. government gave out high-interest, subprime mortgages, according to government documents filed in federal court, the newspaper said.

The Journal said federal officials seized Superior Bank FSB, a national subprime lender based in Illinois, in 2001, and the FDIC continued to run the bank’s subprime-mortgage business for months as it looked for a buyer.

Superior funded more than 6,700 new subprime loans worth more than $550 million, according to federal mortgage data, the newspaper said, and the FDIC sold a big chunk of the loans to another bank.

The Journal also said Texas-based Beal Bank SSB bought a portfolio of Superior loans, about half of which originated under the FDIC.”

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSBNG25521020080721

[DWCAP]

Are 2001-2001 subprime loans really the same thing as 2005-2006 subprime loans? I thought subprime loans, pre 2003, were basically loans to people with bad credit not the financial death sentence they became. So they expanded home ownership under general lending principals inplace long before the bubble started to really inflate. This is bad why?

[DWCAP]

Are 2001-2001 subprime loans really the same thing as 2005-2006 subprime loans? I thought subprime loans, pre 2003, were basically loans to people with bad credit not the financial death sentence they became. So they expanded home ownership under general lending principals inplace long before the bubble started to really inflate. This is bad why?

[DWCAP]

Are 2001-2001 subprime loans really the same thing as 2005-2006 subprime loans? I thought subprime loans, pre 2003, were basically loans to people with bad credit not the financial death sentence they became. So they expanded home ownership under general lending principals inplace long before the bubble started to really inflate. This is bad why?

[DWCAP]

Are 2001-2001 subprime loans really the same thing as 2005-2006 subprime loans? I thought subprime loans, pre 2003, were basically loans to people with bad credit not the financial death sentence they became. So they expanded home ownership under general lending principals inplace long before the bubble started to really inflate. This is bad why?

[DWCAP]

Are 2001-2001 subprime loans really the same thing as 2005-2006 subprime loans? I thought subprime loans, pre 2003, were basically loans to people with bad credit not the financial death sentence they became. So they expanded home ownership under general lending principals inplace long before the bubble started to really inflate. This is bad why?

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