I imagine many African-Americans and Latino-Americans are rejoicing over this news. After years of being accused of draining the public's coffers, the true culprits have been identified. The funny thing is that for so long this has been common knowledge among America's truly poor, disabled, under-privileged and disenfranchised citizens. Many supermarket cashiers who barely exist on their paycheques could tell you about the Armenians who pull up in BMWs and Mercedes, wielding food stamps, to pay for their groceries. Many of them are granted entrance into the country as refugees and are quickly processed through immigration, while the Latinos are treated with scorn. Yet no one in Los Angeles has an Armenian housekeeper, baby-sitter or gardener. I await the results of pending investigations by the States' D.A.s into the mortgage fraud, can't wait to see how deep they are willing to dig.
Maybe while they're at it, they'll also investigate why its so easy for Armenians and Koreans to obtain business credit to establish a "REVOLVING" door of businesses in African-American and Latino neighborhoods, when African-Americans and Latino-Americans can't even obtain credit to complement their going concerns.
FAIR USE NOTICE:
This site may at times contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml