I can't wait for the Election Year to be over, so we can get back to the standard handouts-to-redistribute-wealth, which is MUCH less costly to working people (the 50% bunch who pay taxes), so the parasites stop sucking more money out of our wallets, to buy their votes in November.
Reparations will NEVER stop.....as long as Progressives are in charge....OR RINO'S.
I'm in a business where I've had to follow the lending meltdown from the very start, and a lot of what you read about it inaccurate or just flat-out wrong.
Two things to keep in mind:
1) Around 70% of foreclosed loans were made by lenders that did not have to comply with CRA (Community Redevelopment Act) requirements.
This was no accident - the large "Countrywide" scale lenders were specifically created to avoid this and a lot of other state and Federal supervision - that's why they were able to write the sort of loans they often did.
And a *lot* of these loans were made to middle class and upper Income borrowers.
2) The lenders that had to comply with CDA were mostly community banks that underwrote loans much *more* carefully than the mega-lenders like Countrywide, and the result is that loans made by CDA compliant lenders actually have a substantially *lower* than average foreclosure rate.
The mortgage melt-down was a perfect storm of greed and self-interest that ran all the way from the street corner offices of the real estate agents, mortgage brokers and appraisers all the way to the corner offices at Countrywide and Fannie Mae and up and down both sides of the aisle in congress and at the regulators.
And if you think that all this happened just because the government forced banks to lend to brown people, you have been had by the very people who got rich running this scan, and you will likely be had again before this is over.
Educate yourself!
A good place to start is:
"All the Devils Are Here: The Hidden History of the Financial Crisis" by Bethany McLean.