Posted on 12/08/2014 2:10:54 PM PST by SeekAndFind
the same Government she gladly joined
“minorities were targeted by the federal government for access to subprime mortgages, ...”
Exactly. Banks would never have given these loans if they hadn’t been forced to do so by the Federal Government.
That must explain the thousands upon thousands upon thousands of fraudulent inner-city mortgage scams, right???
Like most liberals, this clown realizes that most voters are stupid.
Lose / Lose
Unfreaking believable...
The Left used minorities to drive these sub-prime mortages, even taking lenders to court. There judges bought the line that minorities were being treated unfairly, by redlining.
So the judges ruled that the lenders had to make loans.
Now this beeache states that minorities were targeted.
Unfricken believable.
Community reinvenstment act (CRA) peanuthead’s....slick-willy’s gift that kept on giving.
KYPD
I wish that this woman would move to another planet. That might be far enough away.
Right. Banks were falling in line with the government crusade against “redlining”.
Basically, banking 101....
Targeted? That’s a matter of interpretation. They were given an opportunity. Those who abused it paid the price; those who used it wisely became and remained homeowners when they otherwise might have not been able to do so.
The government forces using strong arm tactics banks to provide loans to people who are not credit worthy, who cannot re pay the loans and who have not intention of repaying them.
When the people ultimately default on the loans, they want to claim the the banks victimized them?
They said that blacks were being held to higher underwriting standards than whites and were therefore "unfairly" being denied mortgages. If that were actually the case, blacks would have had a lower default rate than whites. That was not the case by a long shot.
To remedy the situation, they then insisted that banks lower the underwriting standards for blacks ala the "Community Reinvestment Act." The result was that blacks (and lots of other people) got loans which they were never going to be able to repay. This resulted in the subprime mortgage collapse.
Now they want to say that blacks were "targeted" with subprime loans, when they were the ones who did the targeting.
Barnie Frank did it........ she should go kick his ass
Exactly! The government forbade redlining (wherein banks segregate areas deemed too risky for real estate loans) and required banks to “invest” a minimum level into troubled communities, thereby largely creating a problem that would not have existed without government intervention.
This type of "outrage" plays well with the flaming libtards, but my guess is the mortgage lenders would've been accused of racial bias if the minorities in question hadn't been recruited and given these mortgages.
I am so sick and tired of these people.
They don’t call it “the government plantation” for nothing.
Bingo! The BS dance liberals do is stunning to watch.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.