ooops this is an excerpt
Perhaps it's because they're more likely NOT to pay their bills on time?
World to end tomorrow - Women & Minorities hardest hit - NY Times.
Watch carefully as we march steadily towards November. Watch as the ususal suspects work hard to stir up the black vote, conjuring up all kinds of villans and boogeymen. Remember, it was George Bush who was responsible for the chain dragging death in Texas. Remember, Bill Clinton told us he saw many black churches burned as a boy.
Just you watch.
Seems a good FICO score, 20% downpayment, and requiring only 25% of your TAKEHOME pay to go to a mortgage is now RACIST???
Structural inequality is because of false leaders like da rev Jesse who moan and groan about discrimination, while the problem lies in self-inflicted pathologies such as no-father families, blind hatred of Whites and dependence on no-work handouts from a corrupt government.
If the loans weren’t illegal when they were made, then why should government have anything to say about it now? Ex post facto?
You're right, Lewis, you don't know what is... Interestingly, the underlying basis for his complaint is his apparently racist belief that 'black and Latino families' are not as smart as 'white families', and that therefore they are unable to figure out something as complicated as a mortgage...
“There is no question that a black or Latino family is twice as likely to receive a subprime loan as a white family,” fumed Lewis Fidler, a white New York City Councilman who participated in the day’s second panel, “The State of Home Foreclosures.” “If that’s not a civil rights issue, I don’t know what is.”
Lewis Fidler is a chemically stupid imbecile. The reason blacks and hispanics were given these mortgages is because the loan industry was forced to by ethnic front groups. Prior to giving these riskier loans the banks were accused of being racist. So they loosened up the loan requirements to help lower income people. Now that those people can’t pay and they go into foreclosure... Well, that’s obviously racism from the loan industry, right?
Sounds more like a personal responsibility issue.
the dirty little secret here...is that many of the predatory lenders were actually mortgage brokers... who lived in the same neighborhoods these loans were made, and knew that many of their clients would have qualified for prime rates, and actually steered them to the sub-prime market for their own financial gain. So if Jesse wants to scream racism...he might want to investigate his own backyard before flinging around generalizations.
If they couldn't afford the loan, they shouldn't have taken the loan.
Pretty simple idea, but it seems to work.
Catastrophic implies that it was an outside agency that caused it to happen.
“structural inequality” my ass.
if anything, it’s the affirmative action mumbo jumbo that’s making a joke of the idea of equal opportunity.