Thread: Obama and Subprime loans “affirmative actionâ€

Everyone who wonders why we're such bad economic shape needs to see this. It explains how obama and the dems, over the years, were able to sue and bully banks into giving bad loans to underqualified borrowers (illegals and legal unqualified citizens). These ninja loans (no income, no job, no assets) are what set the recession wheel in motion and why we now need a stimulus pkg signed by none other that the person responsible!

http://hotair.com/archives/2008/10/10/V ... REW-CUOMO/

I hate to say but the minorities were the flaw in this.

Seems, if you're a minority, you get special treatment.

This is what took the whole housing market down.

Seems, if you're a minority, you get special treatment.

Absolutly. I remember when I was in Florida I worked with a woman who was waiting for YEARS to qualify for one of these loans. As long as ANY minority popped into the picture, they had to wait. They were in the process of finally moving into their home and they tried to pull it again, but after years of having it happen, they got a lawyer and fought back and got it. They both worked, took the classes, made a downpayment.....but they were white......but in order to be non-racist they couldn't come out and say "minority only"....just "low income".....but reality was, it was basicly "minority only".

Originally Posted by Paidmytaxes

I hate to say but the minorities were the flaw in this.

Seems, if you're a minority, you get special treatment.

This is what took the whole housing market down.

Wow, maybe the minorities will argue for equal justice now, seeing how easy it was to convince bankers to approve "ninja" loans. Are these bankers the same bankers who make it almost impossible to cash a small(we're talking under a hundred bucks) check drawn on their bank unless you have current ID, a major credit card, and leave a thumbprint? LOL
How many ads have you seen that target folks who've been renting at a rate higher than buying a home. You can't blame minorities without blaming the bankers...