Banks behind France’s own housing scandal

via: PressTVGlobalNews
July 24, 2012

He is one of the thousands who were tricked by French banks into accepting poisonous loans.

French banks set up subsidiaries which offered property loans to middle class families, on one condition: the homes could never be sold, had to be compulsorily rented and only banks, not the landlords, could select tenants.  Then they received warning letters from banks.

Home owners realized the contract sent by banks had been illegally skewed whereby, they were forced to repay 6 times their initial loan and all their belongings were auctioned off.

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