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Winding down Fannie and Freddie could put minority careers at risk
Washington Post ^ | Feb 21, 2011 | Danielle Douglas

Posted on 02/20/2011 2:51:18 PM PST by Innovative

Dialing back government support for District-based Fannie Mae and McLean-based Freddie Mac could have far-reaching implications for minority financial professionals in the Washington region.

Not only are the mortgage finance giants two of the largest employers in the area, with a total of 10,000 workers, but many of those positions are held by people of color. Were the government-sponsored entities (GSE) eliminated, as the Obama administration is proposing, that may leave thousands of these professionals looking for a place to land.

At the close of last year, nearly 50 percent of Fannie's employees and 44 percent of those at Freddie were minorities.

(Excerpt) Read more at washingtonpost.com ...


TOPICS: Business/Economy; Extended News; Government; Politics/Elections
KEYWORDS: economy; government; jobs; minorities; racism; unemployment
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To: Innovative
Remember Reagan's line: "A recession is when your neighbor loses his job. A depression is when you lose your job. A recovery is when Jimmy Carter loses his job." Anyway, a necessary cut is one that affects someone else. A draconian cut is one that affects you.

There will be screaming about every cut. The term "government waste" implies that "Oh doo de doo. Garsh! We jest don't know whut we did with that money!" They know darned well what they did! Those $400 pentagon toilet seats weren't the result of incompetence. SOMEBODY signed off on a $400 toilet seat cause SOMEBODY got a kickback from the supplier that was overcharging. And guys, that happens thousands of times every day. There was an article about how some California agency signed a thirty million dollar contract for computers, but cost overruns pushed the price to $300 million. Somebody scammed the taxpayer for $270 million with the aid of the people inside the government.

41 posted on 02/20/2011 3:35:34 PM PST by Richard Kimball
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To: Innovative

As if the role of Fannie and Freddy should be to keep minorities working. Absurd.


42 posted on 02/20/2011 3:39:13 PM PST by youngidiot (Don't let the name fool ya, toots.)
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To: marlon

“And we all know what the third example is!!!!”

YEP!


43 posted on 02/20/2011 3:39:55 PM PST by aquila48
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To: Innovative

Who. Cares.


44 posted on 02/20/2011 3:41:32 PM PST by Psycho_Bunny (Hail To The Fail-In-Chief)
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To: Innovative

Employment isn’t a right. Fannie and Freddie are
insolvent enterprises sucking on the taxpayer
teat. Time to end it.


45 posted on 02/20/2011 3:42:27 PM PST by Myrddin
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To: Innovative
Fannie and Freddie were always all about under the table reparations. Shut 'em down and don't look back.
46 posted on 02/20/2011 3:42:54 PM PST by Paine in the Neck (Napolean fries the idea powder.)
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To: Innovative

It stinks when a job goes away. That’s life.

People of color can suck it up the same way as people without color, and pound the pavement looking for the next paycheck.


47 posted on 02/20/2011 3:49:15 PM PST by FourPeas
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To: Innovative

“Do you think an article would ever have been published lamenting the loss of jobs of white Americans?”

Nope. One thing you will not hear the lilly white MSM say is “white christian men hardest hit.”


48 posted on 02/20/2011 3:49:54 PM PST by EQAndyBuzz (The way to beat a terrorist is to terrorize him.)
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To: MarkL

Raines along with some of our “Elected Elites” should be in jail.


49 posted on 02/20/2011 3:55:38 PM PST by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: Innovative

World ends; women and minorities hardest hit.


50 posted on 02/20/2011 3:59:54 PM PST by denydenydeny (Power always thinks it has a great soul and vast views, beyond the comprehension of the weak-Adams)
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To: Innovative
Another way of looking at this is that affirmative action is what gave us the sub-prime mortgage crisis.

This is a devastating argument against further affirmative action.

51 posted on 02/20/2011 4:18:38 PM PST by E. Pluribus Unum ("If they bring a knife to the fight, we bring a gun." -- Barry Soetoro, June 11, 2008)
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To: Innovative
Kind of a joke really they won't be winding it down for years the banks need to finish dumping the toxic loans on the taxpayers first. Unlimited credit for GSEs seen as backdoor bailout
52 posted on 02/20/2011 4:23:30 PM PST by FromLori (FromLori">)
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To: Innovative

Get a real job! Minorities and women did not benefit from our paying millions to Franklin Raines and Jamie Gorelick to cheat the taxpayers out of billions. Minorities and women in the private sector lost their jobs and their homes as a result of this criminal activity.


53 posted on 02/20/2011 4:26:27 PM PST by jimfree (In 2012 Sarah Palin will continue to have more relevant quality executive experience than B. Obama.)
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To: Innovative

It got hijacked by politicians because people didn’t pay enough attention to details.


54 posted on 02/20/2011 4:30:46 PM PST by RWB Patriot ("My ability is a value that must be purchased and I don't recognize anyone's need as a claim on me.")
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To: Innovative

Fannie and Freddy are for those who can’t claim to be a Pigford billionaire!


55 posted on 02/20/2011 4:35:14 PM PST by rawcatslyentist (It is necessary that a person be born of a father who is a citizen; ~Vattel's Law of Nations)
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To: Innovative

TOUGH *HIT, SHERLOCK!

Since when do we keep people employed just because of the color of their skin?


56 posted on 02/20/2011 4:41:53 PM PST by kcvl
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To: Innovative
Winding down Fannie and Freddie could put minority careers robbery at risk...

There.
Fixed it.

57 posted on 02/20/2011 4:53:51 PM PST by Publius6961 ("In 1964 the War on Poverty Began --- Poverty won.")
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To: Innovative
This race based nonsense will cease when people stop wearing their race on their face.

??.....never mind....

58 posted on 02/20/2011 5:02:02 PM PST by Islander7 (There is no septic system so vile, so filthy, the left won't drink from to further their agenda)
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To: ronnyquest
“Wait, you mean that “people of color” will have to compete in the job market like everyone else, without recourse to preferential treatment? The hell you say!?”

Your sarcasm hit the nail on the head. I know without a doubt that I never received preferential treatment in my career because I am not a ‘person of color’, but I have been negatively affected many, many times in my life by programs and policies directed to preferential treatment in favor of minorities. I hate racism, and I hate prejudice, but the above statements are just fact. What is the goal of all this race-based decision/policy making? When does it end? Is there a finish line?

It's interesting that many liberals tend to eschew religion, since they seem to broadly embrace the concept of ‘original sin’ as it applies to Caucasians.

59 posted on 02/20/2011 5:10:14 PM PST by pieceofthepuzzle
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To: Innovative
Not only are the mortgage finance giants two of the largest employers in the area, with a total of 10,000 workers, but many of those positions are held by people of color.

Oh noes! People of color! Hell I'm a colored person as well, my color is apparently unfavorable with the powers that be right now.....

60 posted on 02/20/2011 5:37:09 PM PST by ScreamingFist (Quiet the Idiot)
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