The Government paid AIG to sell mortgages to low income Africans.

[dixiegrrrrl]

Thru the For -Profit Government agency *Overseas Private Investment Corporation (OPIC),*
AIG was given almost 10 million dollars to do to Africa what it did to us, in ....2008!

Name: WBC-BLUE FINANCIAL SERVICES LIMITED
US Sponsor: AIG Capital Partners, Inc.
Type: Finance
Description: Expansion of Mortgage Lending to Low-Income Individuals $9,750,000

Latest OPIC programs only go to FY 2008.
But the same bad finance games that worked here are STILL being played out in other countries.
AIG is alive and well and continuing the game.

Link:
http://www.opic.gov/projects/current-opic-projects?field_fiscal_year_value_many_to_one=25&field_project_type_value_many_to_one=All&field_project_dollar_range_value_many_to_one=All&field_project_region_value_many_to_one=All&field_country_value_many_to_one=All

link to description of OPIC:
http://en.wikipedia.org/wiki/Overseas_Private_Investment_Corporation

[RaleighNCDUer]

1. Not the same thing at all.

For one thing, 9,750,000 is a paltry amount compared to what they were doing here. And that is part of a program designed to make capital available to safe investments in underserved sectors - the link shows most of the monies going to micro-investment enterprises.

Giving loans to low-income people is not bad per se - it is giving loans to people who are clearly incapable of repaying those loans because you expect to make your money on the transaction fees rather than the loan interest that is bad.

[Hannah Bell]

3. you're kidding yourself.

[RaleighNCDUer]

4. Howso? nt

[Bitwit1234]

2. Just think how many voters the republicans planned to pick up.

My sister told me her husband, a real estate agent, was told by bush's administration that they HAD to find financing for each ethnic purchaser, or provide reasons why not.

[RaleighNCDUer]

5. Which has absolutely nothing to do with this. nt

[dixiegrrrrl]

6. People in Africa can't vote here.

WTF ????????????/