Ameriquest (once the largest subprime (junk mortgage) lender in the nation) goes out of business, after having marketed thousands of subprime mortgages with falsified documents, in the hopes off quickly selling them for a fast profit.
[restored 5/18/2024]
While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Republican (fascist/socialist) President George W. Bush proposes a bailout of mortgage borrowers who are unable to meet their rising debt obligations, paid for by other mortgage borrowers―seized through the unlawful Federal income tax―who had been responsible with their finances, and met their payment obligations.
[restored 5/18/2024]
Subsequent Events:
References:
CBS News Timeline: U.S. Credit Crunch & Financial Failures Follow Subprime Mortgage Crisis
wjz.com/business/credit.crisis.timeline.2.8186/99.html
Subprime crisis impact timeline
en.wikipedia.org/wiki/Subprime_crisis_impact_timeline
Ameriquest Mortgage – Wikipedia, the free encyclopedia
en.wikipedia.org/wiki/Ameriquest_Mortgage