• Should we Trust the Center for Responsible Lending?

  Filed under Economy, Payday Loans
  Feb 19

  Yeah it sounds like a good idea. Create an organization that is a watchdog of sorts in the lending world. We could probably use such a thing. But after the latest revelation on the founders of CRL, you really have to wonder…

  Marion and Herb Sandler, founders of the Center for Responsible Lending, made Time Magazine’s list of 25 people to blame for the financial crisis. How you ask? They owned a bank in the 1980′s that started to do some tricky, shady loans called option ARM. Well they sold this bank to Wachovia in 2006 (for a mere $2.6 billion by the way) and Wachovia shortly imploded. Why? From the massive losses of their bad loans from the bad portfolio they purchased from these people.

  

  Marion and Herb Sandler, founders of CRL

  So these swindlers make off like bandits and we all suffer as a result. Now they have their Center for Responsible Lending. Who is in their sights? Payday lenders. And they spew the same verbal diarrhea as everyone else why payday lenders are bad. Well, can we really trust anything they say? After all, they are one of the primary culprits in our financial crisis.

  Don’t listen to these crazy people. Never take advice from people who can’t live it. And never think anyone is trustworthy or reliable when they are some of the top 25 people responsible for the financial meltdown in this country.

  Tagged as: Payday Loans
  
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