[karpov]

Bankers will make a lot of bad loans if you insulate them from the consequences. This caused the 2008 financial crisis too. "Insanity is doing the same thing over and over again and expecting different results."

[bboop]

I thought the banks were ordered to make loans with lower financial standards so that it would ‘be fair,’ against their better business sense but mandated by the House, no?

[dynachrome]

“Keeanga-Yamahtta”

Someone overturned a scrabble box to pick out a name?

[jeffc]

...while subsidizing white flight to the suburbs.

Say what?

[Gay State Conservative]

Once upon a time the chant was "banks unfairly deny mortgages to minorities".Then came Attorney General Re No who announced that any bank that denies a mortgage to a "minority" will have the weight of the US Government fall on its head.Banks got the message.

Then,about 15 years later,the chant changed to "predatory lending".

Banks just can't seem to get it right in the opinion of the Rat Party.

[bgill]

The rest of us get to pay for those bad loans.

[ealgeone]

Richard Nixon gave voice to a shift in government policy in 1968 when he declared that “people who own their own homes don’t burn their neighborhoods.

Well, that theory has been disproven.

[ealgeone]

A down payment cost only $200; a buyer’s mortgage was linked to her income, not her house’s value; and the interest rate on the loan, subsidized by the federal government, was capped at 1 percent.

Wow...wish I could have gotten that deal.

[Professional]

If you don’t lend to them, you’re a racist.

If you DO lend to them, you’re a predatory lender.

= No Win

[CIB-173RDABN]

Bankers will make a lot of bad loans if you insulate them from the consequences

—

This is the mechanism behind “student loans”.

[Dilbert San Diego]

Is part of what’s going on, that people misunderstand what’s involved in home ownership?

For example, this house in the article needed lots of repairs and maintenance. The mother in the story may not have realized that it is her responsibility, her money needed, to maintain the home. If someone has been a renter their entire life, they may not understand/appreciate the fact, that the homeowner pays for all repairs out of pocket.

[Robert DeLong]

You are either a troll or you have a poor grasp on what really happened. Banks were forced into making loans available regardless of the realities.

Plenty of proof to back that up

[Jim Noble]

while subsidizing white flight to the suburbs

And what were the whites fleeing?

And that was bad why? What's so great about being around white people?

[E. Pluribus Unum]

When a bank denies a loan to a black person who does not qualify, that is RACISM!

When a bank grants a loan to a black person who does not qualify and the black person does not pay it back, that is PREDATORY LENDING!

Win-win for the racial entrepreneurs!

[elpadre]

at the same time the government built low income rental housing in predominately white neighborhoods all over the country.

[lurk]

Government involvement in lending. What could go wrong?

[A_Former_Democrat]

Yep. Those Affirmative Action Mortgages

You can’t fool Mother Nature. Chiffon

[Still Thinking]

while subsidizing white flight to the suburbs

The goobermint paid whites to move to the suburbs? I do not think that word means what you think it means.

[Bonemaker]

“When the Dream of Owning a Home Became a Nightmare”

It became a nightmare when we started paying illannoy real estate taxes.

[hanamizu]

The lesson seems to be that no matter what, anything bad that happens to black people just isn’t their fault—at least in the view of the New York Times.

[Secret Agent Man]

Giving people homes that have no idea how to take care of them, and don’t ever want to put money into upkeep, is a recipe for disaster.