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Old Posted Sep 30, 2017, 6:50 PM
cornholio cornholio is offline
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Join Date: Jun 2006
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Quote:
Originally Posted by whatnext View Post
Accountable Mortgage Investment Corp? Who the hell are they? $28 million against an $8 million property. Seriously you have to wonder how many of these kind of lenders are out there and what's the economy's exposure if things start to go bad? I bet these places aren't even on the radar of government watchdogs.
Exactly...This is the real story in this entire article.

Laundering is laundering and it links the black local economy with wealthy Chinese people trying to get money out of China. That is bad of course to some degree but a non big story. We have police to deal with this. But the underground banking sector that is formed because of this and fueled because of this...That is something police cant deal with and that is something that can bring down a entire economy. And the thing is no one knows the size of it but oh my it looks like it could be quite big and organized. And obviously un regulated...

28.8 mill against 8 mill...via by the sounds of it mostly unregulated underground lenders. Did the writer really just gloss over this?
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