And here we have another one of the (((Special People.))) This time making billions off of predatory loans to minorities and helping to usher in the housing crisis that had such a devastating effect on jobs and the economy. Do they care about the country or its people at all? I think the answer is clear for all who have eyes to see. And the answer is no. The individual below is supporting the Democrats of course. Why wouldn’t she? If Biden wins, she will be able to rape and pillage our country even more. You can find the full article at Freebeacon.
Heiress to Predatory Mortgage Empire to Spend $200 Million for Dems https://t.co/JcegURoTFN
— Brent Scher (@BrentScher) September 14, 2020
The heiress to the subprime mortgage empire that preyed on minorities on its way to earning billions of dollars is now spending $200 million to boost liberal groups in battleground states, according to the New York Times.
Susan Sandler, the daughter of billionaire banking giants Herb and Marion Sandler, announced Monday that she is investing $200 million in “racial justice groups” as part of an effort to build a liberal infrastructure in states “undergoing rapid demographic change” such as Texas, Florida, and Georgia. The move from Sandler, a longtime donor to Democratic candidates and groups, is the start of a transition away from the short-term world of supporting campaigns to a long-term effort at building power, according to the Times.
The source of Sandler’s cash injection is her parents’ subprime mortgage company, Golden West Financial Corp., which was sold to Wachovia Bank in 2006 for a reported $25 billion. The couple built its fortune by offering millions of adjustable-rate mortgage loans to individuals, many of whom couldn’t afford them and eventually defaulted on their homes.
While the Sandlers came away with billions of dollars, many blame the loans they offered for causing the burst of the U.S. housing bubble and resulting financial crisis of 2007. The defaulted loans cost Wachovia billions of dollars, forcing it to merge with Wells Fargo, which eventually agreed to pay a $50 million settlement to borrowers who were misled by the Sandlers.
