Buffet Bilking Borrowers?

[TerryRohrer]

Mobile-Home Lender Owned by Buffett Is Sued Over Risky Mortgages​

A federal consumer bureau claims Vanderbilt Mortgage, owned by Berkshire Hathaway, made loans to buyers of manufactured homes it knew could not repay them.

C.F.P.B Sues Unit of Warren Buffett’s Berkshire Hathaway Over Risky Mortgages

A federal consumer bureau claims Vanderbilt Mortgage, owned by Berkshire Hathaway, made loans to buyers of manufactured homes it knew could not repay them.

www.nytimes.com

 

[Terrel L. Shields]

B- H makes money the old fashion way...by hook and by crook.

 

[Elliott]

Having been investing for over 50-years, anyone would have to be impressed with Warren and Charlie's record for turning over rocks and making good investments. But when Birkshire/Hathway was started I thought, "Why would someone so smart think they could get into real estate's ups and downs? Who would be that stupid? Do they not know how easy it is to lose your shirt with mortgage brokers lies, mortgage lenders out to make a buck, bankers ineptness, etc.?" Just look at the trillions the GSEs have lost.

 

[Mark K]

Mobile-Home Lender Owned by Buffett Is Sued Over Risky Mortgages​

That's the way of the US today. If you don't pay your mortgage, the gov't will sue the guy that loaned the money.

If he didn't loan the money he'd be getting sued for discriminating against financially challenged people.

I wonder if the CFPB will sue F/F for buying and encouraging risky loans?

 

[TerryRohrer]

That's the way of the US today. If you don't pay your mortgage, the gov't will sue the guy that loaned the money.

If he didn't loan the money he'd be getting sued for discriminating against financially challenged people.

I wonder if the CFPB will sue F/F for buying and encouraging risky loans?

I knew in the 1980s, when a local bar was found liable for a drunk driver killing someone, that we were in trouble. Since then, every level of government has been committed to ensuring that no individual or entity is accountable for their own decisions or actions.

Just in this morning news, Californian's shouldn't be culpable for fires, farmers shouldn't have to suffer slight dips from record revenue, students shouldn't have to pay back loans, on and on. We have become perpetual adolecents, insisting that we each be allowed to make whatever decisions we choose, then insisting that some one else pay to ensure it works out for US. Humans are pretty simple. When you remove all disincentives for being stupid, we become the dumbest critters on the planet.

 

[gregb]

I knew in the 1980s, when a local bar was found liable for a drunk driver killing someone, that we were in trouble. Since then, every level of government has been committed to ensuring that no individual or entity is accountable for their own decisions or actions.

Just in this morning news, Californian's shouldn't be culpable for fires, farmers shouldn't have to suffer slight dips from record revenue, students shouldn't have to pay back loans, on and on. We have become perpetual adolecents, insisting that we each be allowed to make whatever decisions we choose, then insisting that some one else pay to ensure it works out for US. Humans are pretty simple. When you remove all disincentives for being stupid, we become the dumbest critters on the planet.