“Perhaps the only domestic issue George Bush and Bill Clinton were in complete agreement about was maximizing home ownership, each trying to lay claim to a record percentage of homeowners, and both describing their efforts as a boon to blacks and Hispanics.”
I hope this doesn’t come across as racist, but the state of our politics is very sad. The protected voter bloc classes - blacks and hispanics - always get a pass. They can deal drugs, murder, get welfare for life, buy homes they can’t afford - and no one in government thinks twice about continuing to give them perverse incentives that destroy their lives. It’ll be the same with gun controls when it comes to enforcement - white people will have to abide, the voter blocs will get a pass.
The Clinton admin, under Janet Reno's direction, threatened banks and lending institutions with severe penalties if they didn't relax their standards and allow black and Hispanic mortgage seekers easier terms. The lending institutions had applied, on average, stiffer qualifications to blacks and Hispanics for a good reason: they defaulted on their loans at a much higher rate than whites or Asians. And standards for whites were stiffer than that for Asians for a good reason as well: whites defaulted on loans at a higher rate than Asians.
In short, the standards the lending institutions applied were all fair based on statistical evidence. The Clinton admin almost completely wrecked those standards. And incidentally, the current tyrant, King Barack, would like to return to those days of easy credit for unqualified borrowers. Which means we can look forward to another financial debacle.