Can the GOP Survive as a White Nationalist Party?

The Houston Chronicle's GOPLifer ^ | October 10, 2013 | Chris Ladd

[VerySadAmerican]

The three obvious regions are the Rockefeller Republicans from the NE. The mccaniacs who should be in the democrat party. And the Tea Party.

[chesley]

It’s always a problem for me to vote for a RINO, even as the lesser, etc. I’ve done it anyway, b’t like it.

Until we can beat the bastards in the primaries, we are always going to have to make this choice

[Fee]

Redlining, CRA and subprime were the starting point, but not the main disease. If an investor wants to buy subprime mortgage note, it is marked subprime, meaning there is riak to buying the mortgage and the investor will adjust his bid price accordingly and if he plans to buy a hedge or derivative to cover possible losses, the insurance company will charge a premium that will cover the higher risk. I will agree with you that the gov forced banks to set aside some mortgages for blacks to make up for past discrimination and it was dumb. That was a liberal scheme to use a wrong to create a private avenue for providing housing for poor people. The correct act was lawsuit in court and punish any bank officer for turning down a black applicant who has the same financial qualification as a white applicant. Instead the Clinton admin used a lawsuit threat to force banks to deviate from common commercial practices to provide mortgages to poor minority homebuyers. Wonder why bankers would accept money losing practices imposed by the gov, that is not usual. The top 20 banks in the US own 80 percent of the market and generate 26 percent of the US GDP. They don’t take orders from the fed gov, they give orders to the gov. They would go to court and fight then just give in. The weasel bankers claim that the gov policy forced them to act reckless and do liar loans. That is BS, because Clinton overcame banker resistance to subprime policy by offering to have Freddie Mac and Fannie Mae buy ALL types of mortgage loans after six months of underwriting it. The gov was willing to buy the loans without checking them for accuracy. Bankers jumped on the opportunity to originate huge loans, make money on the fees and points, and dump it on the gov within six months. Many major US banks encouraged good credit borrowers to sign up for larger loans to buy bigger homes they would not afford by making up credit scores and incomes on the applications. Larger loans meant larger profits for fees, commissions and points. The fed gov was stupid to assume the bankers would not ruin their reputations pulling off such a stupid stunt, but little did Americans know that bankers don’t give a damn who ends up holding the bag.
The rest is history, liar loans and subprime loans were bundled with good loans and formed AAA rated portfolios. These toxic assets were sold to investors, pension funds, etc etc and hedge funds set low premiums to insure the investors that could not cover the investor losses when the subprime collapse triggered an overall collapse of the real estate market. There was enough money to mitigate the subprime losses because the investor knew they brought them, but the liar loans defaults caught everyone by surprise because investors and hedge funds brought them at lower prices assuming they were AAA rated investments. What the banks did with liar loans was fraud and immoral, and everyone today is paying the price. To add insult to injury, the US gov was forced to bailout the scheming bankers via TARP!!!! Today the federal reserve (membership made up of the top 5 US banks) is still printing money to buy 40 billion USD of mortgage backed securities each month along with another 40 billion USD to buy US unsold US T bonds each month.