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News Link • Corruption

Corruption: Banks Lending UNSECURED To Terrorists?

• The Market Ticker
 

A bit of digging around The Internet on this guy reveals the following:

Zazi's aunt, Rabia Zazi, said that her nephew recently visited the Peshawar region of Pakistan _ where she said his wife lives. Najibullah Zazi hopes to bring his wife to the United States, his aunt said.
     
She said Zazi was born in Pakistan but moved to the United States at an early age and grew up in Queens. He moved to Colorado several months ago to help his father with his shuttle business, she said.
     
Gonzales said Zazi had left another shuttle company for ABC, where drivers are more independent and can set their own hours. He said he was surprised to hear news reports about Zazi.

Oh, so we have a 25 year old Afghan immigrant, presumably here legally but probably not a naturalized citizen.  He didn't own his own business, he drove a delivery vehicle for a shuttle company.  A decidedly pedestrian line of work, and one that doesn't pay all that well (can you say "taxi driver"?)

Yet our banks - the ones that have received federal bailout money - gave this guy $50,000 worth of outstanding credit on multiple lines, which he all drew down and spent (presumably on whatever he was up to here) prior to filing bankruptcy.

Can someone answer this question:

HOW IN THE HELL DO OUR BANKING REGULATORS ALLOW THIS SORT OF OUTRIGHT FRAUDULENT GRANTING OF CREDIT? $50,000 IN UNSECURED CREDIT LINES TO A FREAKING DELIVERY DRIVER WHO APPEARS TO BE A FOREIGN NATIONAL WITH NO ASSETS IN THE UNITED STATES AGAINST WHICH TO SECURE THE LOAN?  

THE BANKS THAT WE BAILED OUT FAILED TO STOP THIS CRAP ALL THE WAY UP TO MARCH OF THIS YEAR AT LEAST (WHEN THIS GUY FILED BANKRUPTCY) AND PROBABLY STILL ARE DOING IT!

This is an OUTRAGE.  Not only did this guy effectively stick the US Taxpayer with the $50,000 in debt it appears he may have been using the freaking money to plot some sort of terrorist attack as part of an Al-Quaida cell INSIDE THE UNITED STATES?

TO PUT THIS IN ONE SENTENCE: BANKS THAT WE BAILED OUT WITH TAXPAYER MONEY ARE FUNDING TERRORISTS INSIDE THE US?!

And don't try to tell me this is an "isolated incident" either.  Some of these banks have had active programs for years to give loans and other services to undocumented illegal aliens.   Wells Fargo even advertised their willingness to lend to people in this nation illegally:

It's the American dream -- buying a home for your family. And now you don't have to be in the country legally to own one.

Wells Fargo is first major California lender to offer home loans to illegal immigrants, 10News reported.

 

"We're not required to ask the immigration status of any of our customers. That is the responsibility of the federal government," Wells Fargo bank representative Jerry Ruiz said.

Bank America has provided credit cards for years to illegal immigrants and others "without social security numbers", requiring only that they have a checking account for three months.  BAC will also extend mortgages to these people - individuals who could be deported at any time, sticking the bank (well no, sticking the taxpayer, since we bailed them out!) with the loss.

Oh, and if you want an ACORN connection to all this?  Here it is - this time with CITIBANK, who only exists today because of taxpayer largesse:

The local program, which uses tax identification numbers instead of Social Security numbers, is similar to programs run by small lenders – and two state agencies – around the country that have distributed millions of dollars to undocumented immigrants over the past few years.

 

“There is a huge untapped market out there, but it is a controversial program,” said Sarah Lumbert, office director of San Diego's ACORN Housing Corp., part of a national group working with Citibank to provide tax-ID loans.

Isn't that special?

Not only is the taxpayer bailing out banks that have made loans to illegal immigrants but now it appears that the taxpayer has been bailing out banks WHO EFFECTIVELY GAVE MONEY TO AL-QUAIDA TO FUND A TERRORIST ATTACK IN THE UNITED STATES!

(Yes, I know, in theory it was a "loan" on those credit cards.  But on the objective facts are you "lending" $50,000 on credit cards to someone who is employed as a delivery driver and has that sort of income, or did you really, when one analyzes the facts dispassionately, GIVE them that money?)

These banks need to be broken up, their so-called "assets" marked to the market, each and every one of these "loans" identified and chased down and the so-called "programs" that make this sort of abuse possible stopped - right now.  If we can find a law in here that was broken we need to start locking people up at the same time.


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