Politics
Politics
Out of context: Reply #2133
- Started
- Last post
- 33,770 Responses
- ********0
Except someone must have edited the page. It used to say: Allegations of Predatory Lending
On October 4th, 2008, NBC's Saturday Night Live ran a skit which caricatured the Sandlers as predatory lenders who had scammed unsophisticated borrowers into purchasing homes that they could not afford. This skit stemmed from criticism that the Sandler's Savings and Loan had accumulated billions of dollars in sub-prime mortgages during the sizzling home markets of the 1990's and early 2000's. When the Sandler's sold Golden West to Wachovia in October 2006, these unstable loans would become the basis for Wachovia's meltdown in September 2008