Thread: The Minority Mortgage Meltdown
#1 The Minority Mortgage Meltdown
03-07-2009, 01:23 PM
- Join Date
- Feb 2009
Even the New York Times can't avoid the angle:
Mainstreamest of the MSM admits: Yes, minority loans stoked the economic crisis
December 22, 2008
For weeks, writers like Steve Sailer and Ann Coulter have been pointing out that the economic crisis was likely caused, in large part, by the massive drive to give mortgage loans to blacks and Hispanics.
The reaction was easy to predict: Loony right-wingers and racists want to "scapegoat" minorities for economic problems that are really the fault of greedy whites.
But those critics are going to find it harder to dismiss the latest outlet for that observation: The New York Times. In a lengthy and wide-ranging Sunday piece, the paper puts the minority-loan angle up high, with a front-page photo and the caption, "In June 2002, President Bush spoke in Atlanta to unveil a plan to increase minority homeownership."
An inside photo shows a proud Bush touring a new development in heavily-black Atlanta, presumably staged to show what a Great White Father he is. One sentence in the story began, "He pushed hard to expand homeownership, especially among minorities, an initiative that dovetailed with his ambition to expand the Republican tent — and with the business interests of some of his biggest donors."
03-07-2009, 02:51 PModay, financial institutions face a damned-if-they-do, damned-if-they-don't quandary: If they loan to blacks, they're accused of "predatory lending," and if they don't, they're accused of "redlining.""If every poor man is to come here and start requesting money for all his children, the applicants will never be satisfied and the nation's finances will collapse." Emperor Tiberius: Tacitus:Annals
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