Well my wife and I built our home here (Charleston, SC) 8-years ago and we didn’t have an issue with our loan nor have we ever paid our mortgage late. I hate articles like these articles because they assume to speak for all of black America.
I’ve been a member of this site since 2000 and have spent just about the last 20-years of my life traveling to some of the worst places on earth defending freedom. Stop painting with such a broad brush. We’re not all liberals loons. At least the members of this site should be smart enough to know better.
TD - USAF
And you did all that you did without the help of the Nation, the country’s oldest Marxist publication, the Reverend Jesse Con Artist and any liar-in-chief such as Al Sharpton. Imagine that.
Exactly the point that was NOT made in the article.
People who are not Black and who are not Latino but who have poor credit records are also ‘targeted’ for sub-prime loans. These people are also in for ‘catastrophic times’ if they cannot meet the terms of their loan agreements. But I guess if they are not Black or not Latino, it’s not as ‘catastrophic’.
Terrence...THANK you for your service.....There is NOTHING that covers everyone!!! You should know that. I’m a woman, and NOTHING about women covers all of my life, actually MOST don’t but I will admit that women are DUMBER than men in most things....finances, politics, business,news of the day, so I am stereotyping even though I don’t fit that stereotype. Don’t play the victim card.
I want to make sure you realize that I wasn’t personally painting with a broad brush. All I was pointing out is that those minorities who were previously turned down, and now getting subprime loans, in 99% + of those cases it was credit/income reason, not racism. I’m not saying that some loan officer out there didn’t have racist intentions, but I’d say the vast majority do not in this instance.
TD.....how in the world did you apply what I said to YOU?????
Thank you for your service, Terrence.
It’s possible that there may have been some biases in lending, that some people got subprime loans who should not have.
But my view is that this bias was most likely on the basis of socioeconomic class, not race. I can’t see why a middle-class black person would do anything different than any other middle class person when looking for a loan. He/she would shop around, check credit scores, and be fully informed of his or her borrowing options.
Jesse Jackson’s “victim” is more probably a poor, uneducated person with little financial sophistication. But this sort of person is more likely to be white than black or hispanic, although there are blacks and hispanics who fit the description. But this is hardly the sympatheic victim that Jackson or the Nation is comfortable with portraying. Classism is simply one of the prejudices that Jackson and the Nation, as well as most liberals, are still comfortable wearing. Poor whites...ewww....don’t they vote Republican??
The accusation of racial bias, however, stings deeply. It prompts activists to act, legislators to pass laws and bank lawyers to make settlements out of court.
But isn’t it interesting that Jackson portrays the victim in such a racially determined way? As if only black people and hispanics can’t figure out that they are being ripped off? How does he know that the race of the victim even mattered in the case of this injustice? Who is the racist here?