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.
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”.
Nobody can get it right. A family member worked for Habitat, where the houses were built for the “poor” and mortgages were tailored to their incomes, only a few hundred dollars a month...and most of them didn’t bother to pay, or paid seriously late.
They also couldn’t do things like tighten a screw to hold in a doorknob (in their own house, not a rental or public housing) and wouldn’t go to the free Home Depot “first homeowner” classes, tailored specifically to people who’d never been responsible for their own repairs before.
So what can you do. Barr was right, we’ve lost our religion, and with it, our sense of personal responsibility.
And they are still trying to blame the subprime mess on the repeal of Glass-Steagel. No mention of Ted Kennedy and Barney Frank in the article.
I wish someone could explain this activity to Tom Steyer & blow holes in his latest ads lambasting the banks.