You also say you are a black attorney who has won millions for black people in LA. If deserved, fine. I don’t know enough about the particular cases to judge. But here is another one of your lonnnngggg quotes.
“The next major disappointment was during the financial crisis in the Fall of 2008. With Wall Street teetering on the brink of collapse, the Bush Administration proposed a bailout. On the first vote in the House of Representatives, however, it unexpectedly failed. The “Nays” came mostly from Republicans breaking with their President and Party leadership, but at that time Republicans were in the minority in the House. The marginal votes that put the Nays over the top came from members of the Congressional Black Caucus, who were concerned about the lack of protections against foreclosures on distressed homeowners included in the bill. They were demanding that if we were going to bailout Wall Street, they sure as hell better not turn around and foreclose on homeowners behind on their payments without some kind of forebearance (In retrospect their prescience was remarkable). During the ensuing week, Obama returned to Washington from the campaign trail, and put pressure on the black lawmakers who had voted Nay to change their votes (under threat of being 86’d from the White House of the first black President), and also turned down an offer from the Secretary of Treasury to include the foreclosure protections. At the end of the week, the bailout was put back up for a vote and it passed narrowly with the margin of victory being provided by the Black Caucus vote switchers. As a result, millions of homeowners unnecessarily lost their homes, many of them black, and statistically, all of the black wealth generated throughout the 90’s and 2000’s was wiped out. Our homeownership rate is now where it was 20 years ago, before countless hours were spent by countless people getting blacks into homeownership for the first time in their lives. The Wall Street millionaires and billionaires who caused the calamity lost nothing, and were back to record profits within a year or two. Communities were devastated by blocks full of empty and abandoned homes. I firmly believe to this day that either the banks should’ve been allowed to go bankrupt or the money should’ve been loaned to them with the requirement that they forebear on foreclosures until it was paid back, and that if either of those things had happened, the crisis would’ve been much less severe.”
Since barack obama was a major mover in seeing that unqualified blacks and others who could never have qualified for homeloans got them anyway from banks intimidated by boycotts and finally by law, are you NOW saying that once he became president, he wasn’t ‘black’ enough? Like say, bill clinton?
It was a mistake to try to force banks to lend to those who didn't qualify, and a lot of those who faced foreclosure had no business in their houses in the first place. But regardless, banks were still ultimately in charge of their own affairs, and there were plenty of banks that didn't go so far into the subprime game so as to need a federal bailout, including Wells Fargo. My vote would've been to deny them a bailout and let the chips fall where they may. But if they were to get a bailout, I would've voted to put strings on it for the benefit of those homeowners who were facing foreclosure not because they got in over their head, or refinanced twenty times, etc., but because of the decline in the entire housing market and then the economy itself.