Holder Launches Witch Hunt Against Biased Banks

Investor's Business Daily ^ | 7/8/2011 | Paul Sperry

[TimSkalaBim]

In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination, according to court documents reviewed by IBD.

[snip]

Another Reno protege, Perez has compared bankers to Klansmen. Only difference is, he said, bankers discriminate "with a smile" and "fine print." He said this kind of racism, though more subtle, is "every bit as destructive as the cross burned in a neighborhood."

Perez has put in place an infrastructure to enforce "fair lending" — including a first-of-its-kind Fair Lending Unit staffed with more than 20 lawyers, economists and statisticians.

He's appointed a special lending cop to run it — Special Counsel for Fair Lending Eric Halperin, who also worked for Reno. Before returning to Justice, Halperin was chief Washington lobbyist for the Center for Responsible Lending, an anti-redlining group that urged banks to relax lending standards for low-income urban borrowers before the crisis.

[tanknetter]

I went to grade school with Perez. His father was a doctor, so he definitely did not grow up in poverty. And I doubt that he's ever worked in the private sector, so his view of how banks do business is straight out of the Marxist playbook.

He's in a Senate-confirmed position, right? Why the heck doesn't one of the GOP-led House Committees just summon him up to the Hill, put him under oath, and then force him to "clarify" his statements and positions? Throw what he's said in his face and force him into looking like a complete idiot.

(then again, I'm pretty sure I know the answer to that. Sigh.)

[hosepipe]

a half million people dieing in the Civil War paid serious reparations..

[ozzymandus]

When in danger, when in doubt, play the race card.

[CharlyFord]

Sounds like the same story that we heard during the Clinton Administration. Janet Rino threatened to prosecute bankers.

And, the libs have the gall to blame the 'rich' bankers when the housing market collapses.

Here we go again!

[The Sons of Liberty]

Should read:

"Holder Launches Witch Hunt Against Biased Banks Blacks"

[Iron Munro]

Holder Launches Witch Hunt Against Biased Banks

Holder Launches Witch Hunt Against Unbiased Banks

[Iron Munro]

[TimSkalaBim]

Hmm, good point. IBD convicted the banks in their headline. Disappointing, but still an informative article.

[Sons of Union Vets]

The banks should do as Michael “Midas” Mulligan did in ATLAS SHRUGGED

MIDAS MULLIGAN
http://www.conservapedia.com/Midas_Mulligan

[dragnet2]

“What Eric Holder wants is for the banks to simply give money to “his people.”

________________________________________________________

Here is Bush’s speech pushing home loans for totally unqualified minorities.

http://www.youtube.com/watch?v=MqR15H0gNBU

[La Enchiladita]

Anything for votes!!!

[SparkyBass]

[La Enchiladita]

People need to learn how to play the libs games.

Bingo.

[kitkat]

Can banks sue the government for forcing them out of business?

[RobbyS]

Howe we gotinto this mess in the first place. The insistence that the banks loan to people who are incapable of repaying those loans. I get into trouble “lending” my rental house to such persons. The banks get into trouble lending the money of their depositers to such.

[dennisw]

Thomas Perez at Justice is an uber-scumbag. Keep your eyes on him. He is definitely trying to crash the system and in this case, forcing banks to give and lend to Holder's people who are unqualified. For you and me to pay the freight for Democrat voters

Any Republican president is better than these communist wealth transfer agents

[RobbyS]

The original model was homes for veterans. But those homes were modest in size and cost, and VA was much more careful than fannie may and freddie mac. And as far as the Bush program is concerned, the Democrats immediately outbid him and pushede for even MORE. This is the problem with liberal Republicanism: you cannot outpromise the Democrats.

[TimSkalaBim]

Can banks sue the government for forcing them out of business?

No, unfortunately. According to the article, many banks will agree to engage in poor lending practices to avoid the harm caused by being branded a KKKer by DOJ. Not only does DOJ keep their "statistical evidence" for this supposed racism secret, they do it with the banks "agreement."

[SaraJohnson]

We need to do more of what crashed the real estate market in the first place! Obama wants the houses the banks own due to foreclosure to go to “his people.”

[SunkenCiv]

Thanks FUE.