Censored for Cynicism
- Oct 20, 2008
- Reaction score
Liar!No.....racism was used to allow people with horrible credit to qualify for loans on mortgages they couldn't afford.
If you were black you could get into a $300,000.00 mansion for zero down and a credit score of 450 with no stable income.
Then close to a million people walked and left the bank holding the note.
That started the economic crash.....which was the excuse they used to dream up the Stimulus that Obama claimed would pay for shovel-ready jobs that didn't exist.
It was BUSH who changed the law giving no down payment loans to people with bad credit for more than the property was worth. Most of the abandoned houses were abandoned by WHITE real estate speculators, then those bad loans were packaged together by greedy WHITE bankers and sold to greedy WHITE speculators as AAA bonds.
Then racist scum like you blamed blacks.
Funny how there were many shovel ready jobs in Dem states, but none in GOPQ states.