Obama & Dems to FORCE Banks to Make Risky loans AGAIN!

Discussion in 'Politics' started by get_involved, Sep 4, 2011.

  1. get_involved
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    get_involved Gold Member

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    "Talk about not learning from past mistakes: A government department is again intimidating banks into lending to minority borrowers at below-market rates, all in the name of combating "discrimination." Welcome to the next housing mess."

    What a moron Obama is! The job is WAY over his head!

    Mary Kissel: Justice's New War Against Lenders - WSJ.com
     
  2. editec
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    editec Mr. Forgot-it-All

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    According to the article you linked to..

    and the article also say that the Feds complaint that banks:

    NOWHERE does it really prove that the government is forcing banks to lend to peope who cannot afford the loans.

    It says that it does that,



    but nowhere does it show an example of the Feds forcing banks to lend money.

    It complains that the banks charge Blacks more money for the loans, and it complains that the banks don't have branches in redlined neighborhoods.
     
  3. Matthew
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    Matthew Blue dog all the way!

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    Sometimes when a group is more at risk at defaulting on a loan they get charged more. It is kind of like Teenage drivers paying more as they are more likely to get into trouble on the road or fuck off and get drunk, crash.
     
    Last edited: Sep 4, 2011
  4. jillian
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    jillian Princess Supporting Member

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    yeah, but the racist scum always blame the CRA for the crash and continue to harp on the same lies.
     
  5. code1211
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    code1211 Senior Member

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    As I drive through the rougher parts of town, these are the "Minority Areas", probably similar to those referred to in the article, I see the real reason for the reluctance to build banks in these areas.

    Just for fun, go to the worst part of whatever town you might live in in. Around here, a good choice would be Lafeayette Square. Find a bank and walk in with a tape measure on your belt. Here is what will very likely happen:

    1. the doors to the lobby automatically lock.
    2. You are asked to empty your pockets into the tray.
    3. The armed security gaurd will come to the other side of the 2 inch glass door and review the items in the tray and may ask for your identification.
    4. Once it's established that you have legit business in the bank, you are allowed to enter.

    This differs from the branch in my neighborhood in that there is not the auto locking vestibule, no valuables tray into which I will need to place my firearms and knives, no bullet proof glass, no armed security and no weekly robberies.

    There is that little maze to form the line by. Man, that must cost a fortune.
     
  6. Matthew
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    Matthew Blue dog all the way!

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    Wow, somehow charging a group that have shown to be riskier to give loan to is now RACIST. Well guest what- when a group be it teenage drivers or blacks that are far more likely to default on there loans they both are going to pay more. White teenagers or blacks looking for loans. The rules are what they're. Nothing racist about it...Of course blacks don't wish to be treated equally, but better or they will scream racist. BEAM ME UP SCOTTY!

    :cuckoo:
     
    Last edited: Sep 4, 2011
  7. code1211
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    code1211 Senior Member

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    There is probably no evidence showing that Gibson Guitars is getting pressure to unionize, either.
     
  8. FA_Q2
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    FA_Q2 Gold Member

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    When you sue someone because they are not serving black arias then yes, you are FORCING them to serve that aria. That would include loans.

    Note: the article does point out one such suit to AIG in 2010 that was settled. Do you not understand how this works?
     
  9. editec
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    editec Mr. Forgot-it-All

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    Yes and there is no problem AFAIC, if that is what is happening.

    So the question regarding overcharging Blacks for loans comes down to one question

    IS IT TRUE?
     
  10. code1211
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    code1211 Senior Member

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    According to the facts, yes. The hard truth of the situation is that if a lender can make more money lending, that lender will lend. Are no-white peope always charged a higher rate or always UNpreferrred burrowers?

    NO.

    Asians repay at higher rates than whites. It's not the color of the skin. It's the color of the money.

    Factors associated with student loan default among different racial and ethnic groups | Journal of Higher Education | Find Articles at BNET
    Steve Sailer's iSteve Blog: Student loan default rates by ethnicity
    http://aux.zicklin.baruch.cuny.edu/jrer/papers/pdf/past/vol18n02/v18p279.pdf
    ยป Which Racial Groups Are The Most Likely To Default On Loans?
     

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