does the azzhole NOT remember how we got into this mess in the first place???
Posted on 11/15/2012 1:03:30 PM PST by rightwingintelligentsia
NEW YORK (CNNMoney) -- The housing crisis hurt low-income communities and minorities more severely than other groups, Federal Reserve Chairman Ben Bernanke said Thursday.
"Lower-income and minority communities are often disproportionately affected by problems in the national economy, and the effects of the housing bust have followed that unfortunate pattern," Bernanke said in prepared remarks presented at the Operation HOPE Global Financial Dignity Summit in Atlanta.
Bernanke pointed to homeownership rates for African Americans, which fell 5 percentage points over the last eight years, compared to a 2 percentage-point drop for other groups.
While there has always been a gap in homeownership rates between white and black households, that gap has recently grown wider. The homeownership rate was 44% for blacks and 74% for whites as of September, according to the Census Bureau.
(Excerpt) Read more at money.cnn.com ...
Thank you for posting the information about your father and you, on your profile page, and thanks to your father and you for your love of our country. (I refuse to call our country the obsequious whitepaper term, “the homeland,” that some Inside The Beltway [thoughtless] “Think Tank” dreamed up!)
The only discrimination minorities or anyone else faces in securing a mortgage is employment status and credit rating.
Bad life choices and just bad luck will affect both of the aforementioned points of discrimination. There should be no expectation of equal outcomes in this country only equal opportunity.
Ben Bernanke. Another gift to the American people of George W. Bush that keeps giving.
That appears to be the current scam with all these mortgage commercials. They get $450 bucks and you get no refinancing..............
A thirty year loan is 3.34% that is for everyone. The sub prime mess was that lower income people where given a higher credit score so they could qualified. Is Bernanke talking about a second loan to cover down payments? Or a low credit score should not pay a higher interest.
Hey. . .yea. . and then we can bundle all those loans and sell them to banks that are too big to fail! BEAUTIFUL!!
Well said! In my life I've had neighbors that I'd hesitate to lend a lawn rake! It is not a matter of skin color it's your character that counts.
Regards,
GtG
http://www.freerepublic.com/focus/f-news/2608592/posts
VIDEO OF ANDREW CUOMO STARTING THE HOUSING MELT DOWN!
(04-06-98)
CUOMO: To take a greater risk on these mortgages, yes. To give families mortgages that they would not have given otherwise, yes.
Q: [unintellible] … that they would not have given the loans at all?
CUOMO: They would not have qualified but for this affirmative action on the part of the bank, yes.
Q: Are minorities represented in that low and moderate income group?
CUOMO: It is by income, and is it also by minorities? Yes.
CUOMO: With the 2.1 billion, lending that amount in mortgages — which will be a higher risk, and I’m sure there will be a higher default rate on those mortgages than on the rest of the portfolio …
(more at link)
*
Good and I hope none of these unqualified get a home. I started out very very poor. Hardly a dime in my pocked and worked my ass off getting to a position to qualify to buy a home. And it was a very small house to start with.
It couldn’t possibly be that they are disproportionately unable to own homes due to their own and their forebearers’ choices. Nah, gotta be “discrimination,” because it’s not as if racism has lessened in recent decades, or anything. It just got secreter.
does the azzhole NOT remember how we got into this mess in the first place???
To be fair I can’t imagine there exists in the world any responsible person you could appoint Fed chairmen that would get confirmed and nit be corrupted. It’s aorta like trying to staff a cable news channel with conservative reporters. Those people just don’t exist. Cartel banking is for men like Bernanke. Heck, Greenspan used to be a Randian—of which we were constantly reminded and through which liars tried to damnable hus record—and look how he turned out. A Wand character simply wouldn’t be Fed chairman, or would be for a week before he blew up the building, or something.
Try nominating someone you do trust, like, I don’t know, say Thomas Sleekly. He’d never be confirmed. Or if by miracle he was, they would lock the front door, turn the lights off, hide behind desks and wait for him to go away. Or just assassinate his character.
To be fair I can’t imagine there exists in the world any responsible person you could appoint Fed chairmen that would get confirmed and nit be corrupted. It’s aorta like trying to staff a cable news channel with conservative reporters. Those people just don’t exist. Cartel banking is for men like Bernanke. Heck, Greenspan used to be a Randian—of which we were constantly reminded and through which liars tried to damn his record—and look how he turned out. A Wand character simply wouldn’t be Fed chairman, or would be for a week before he blew up the building, or something.
Try nominating someone you do trust, like, I don’t know, say Thomas Sleekly. He’d never be confirmed. Or if by miracle he was, they would lock the front door, turn the lights off, hide behind desks and wait for him to go away. Or just assassinate his character.
Yes - the banks tend to “discriminate” against those who do not have the means to allow them to pay the loans...
Everything that was old and failed is new hope again? Reverse discrimination in Michigan and now let’s repeat loans to people based on race rather than economic qualification.
This is too wierd!
Candidates for Chairman of the Fed or Secretary of Treasury:
Ron Paul - Congressman
John Mauldin - Investment Analyst and Writer
John Allison - Former CEO BB&T
The Federal Reserve System would steal nukes and hold the country hostage before they’d let Ron Paul be chairman.
Whoops, I meant Thomas Sowell. Stupid computer.
One of the reasons the electoral college was put into place was because the founders didn't trust the common folks to have brains enough to vote in the best people. Also we are a republic and the electoral college keeps the winner take all policy of a democracy out of the mix. However, this is only true if the Electors use their constitutional given rights to cast the electoral votes for the one they know is the better person to run the country. If we have honorable electors we will see Romney win in the end. However, this is probably not going to happen since we have few honorable men left in politics.
If the purpose of the Electoral college was to ever be used this is the time, as far as I know it has never been used the way it was intended.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.