Aaah .. but welfare has more to do with this than you seem to realize. The only reason that the risky borrowers were capable of getting a loan at all (black or white) was because of a bill passed to force banks to give these loans. Your short sightedness is showing again. Of the people who do get welfare it's about even, between black and white. If you are also referring to AIG morons, then you don't understand what the difference between rich and poor is at all.
But all that aside, you are still wanting to reward morons for not saying "no" to loans they can't afford, and by making it sound like it's only blacks who did this you are calling black people morons or thieves. So far everything you post only demonstrates that they shouldn't have been allowed a loan in the first place because they either wanted to steal the money or were too stupid to understand even simple economics.
Responding to you is feeding the troll obviously, the rich ripping off those who are far less wealthy than them is far more worse than poor people getting welfare, the poor need assistance, these greedy rich people don't need anything yet its the poor that gets the most negative attention and only now the rich greedy people are getting some. Its been this way for years and no the blacks who took subprime loans are not the greedy ones you incoherent jackass, its not a case of taking the money and running, they are the ones losing out and being trapped in debt, its the lenders who are the greedy ones, they do crap like this:
Predatory Lending: Redlining in Reverse
There are no precise quantitative estimates of the extent of predatory lending. But the growth of subprime lending (higher cost loans to borrowers with blemishes on their credit records) in recent years, coupled with growing law enforcement activity in this area, clearly indicates a surge in a range of exploitative practices. Not all subprime loans are predatory, but virtually all predatory loans are subprime. Some subprime loans certainly benefit high-risk borrowers who would not qualify for conventional, prime loans. Predatory loans, however, charge higher rates and fees than warranted by the risk, trapping homeowners in unaffordable debt and often costing them their homes and life savings. Examples of predatory practices include:
*Balloon payments that require borrowers to pay off the entire balance of a loan by making a substantial payment after a period of time during which they have been making regular monthly payments;
*Required single premium credit life insurance, where the borrower must pay the entire annual premium at the beginning of the policy period rather than in monthly or quarterly payments. (With this cost folded into the loan, the total costs, including interest payments, are higher throughout the life of the loan);
*Homeowners insurance where the lender requires the borrower to pay for a policy selected by the lender;
*High pre-payment penalties that trap borrowers in the loans;
*Fees for services that may or may not actually be provided;
*Loans based on the value of the property with no regard for the borrowerÂ’s ability to make payments;
*Loan flipping, whereby lenders use deceptive and high-pressure tactics resulting in the frequent refinancing of loans with additional fees added each time;
*Negatively amortized loans and loans for more than the value of the home, which result in the borrower owing more money at the end of the loan period than when they started making payments.
