Wednesday, February 18, 2009

Paul Bishop's Truth behind the World Savings Bank Fiasco

We all know that the reason we are in this economic recession is primarily due to the abundance of bad loans that were issued by banks. Below is a 60 Minutes story of a mortgage salesman named Paul Bishop who discusses the demise of World Savings and the reason why Wachovia inherited billions of dollars in debt when they acquired this bank. This is a very interesting video and now I know why Wachovia was another victim of the sub prime mortgage market.

Digg It!
Buzz Up!
Add to Stumble
Add to Delicious
Reddit
Twit This
Add to Facebook
Google Bookmarks
Sphere: Related Content

2 comments:

Anonymous February 25, 2009 at 7:34 PM  

WOW, CAN THIS VIDEO BE USED IN COURT AS EVIDENCE AGAINST WACHOVIA?

SIREN February 25, 2009 at 10:42 PM  

Who knows but it is definitely some incriminating stuff!!