finknottle Posted October 2, 2008 Share Posted October 2, 2008 It speaks to the scum of the right that they have to blame minorities for this crisis. Maybe it plays into "don't vote for Obama because he's black" card. This is the most discusting thing I've seen in this campaign. But nothing surprises me that comes out of the republican camp. I think the proof is in the question someone raised: the majority of the problem loans came from high-end loans--$200K to $500K. Someone please provide the data that shows BLACKS--because that is what this bull sh-- is about, are to blame for those loans. This is the worst bull sh-- I've ever seen pushed by any party. And once again the scum of the left is turning a question of loose lending standards into one about race, as they have done opportunistically since the early primaries. But to your point about where the defaults are occuring, it has been explained many times: - if you relax lending standards for low income borrowers, there is more demand and more capital available. - if there is more demand and more capital available for low end housing the prices there increase. - if the prices increase for low end housing, it drives up the price for middle range housing and ultimately high end housing. - if lending standards have been relaxed for low income borrowers, the same relaxed standards must be allowed for all borrowers. This increases the buyers of mid- and high-end properties who are bad credit risks. Link to comment Share on other sites More sharing options...
DC Tom Posted October 2, 2008 Share Posted October 2, 2008 It speaks to the scum of the right that they have to blame minorities for this crisis. Maybe it plays into "don't vote for Obama because he's black" card. This is the most discusting thing I've seen in this campaign. But nothing surprises me that comes out of the republican camp. I think the proof is in the question someone raised: the majority of the problem loans came from high-end loans--$200K to $500K. Someone please provide the data that shows BLACKS--because that is what this bull sh-- is about, are to blame for those loans. This is the worst bull sh-- I've ever seen pushed by any party. I'm not going to get baited into a racial debate here...but in the DC market, $500k is a pretty typical mortgage of the past 5 years. $200k wouldn't even get you a town house here. The $200K-$500k range is probably just the range for sub-prime mortgages in major metropolitan areas - not coincidentally, the same areas that are experiencing the highest foreclosure rates. Link to comment Share on other sites More sharing options...
SDS Posted October 2, 2008 Share Posted October 2, 2008 It speaks to the scum of the right that they have to blame minorities for this crisis. Maybe it plays into "don't vote for Obama because he's black" card. This is the most discusting thing I've seen in this campaign. But nothing surprises me that comes out of the republican camp. I think the proof is in the question someone raised: the majority of the problem loans came from high-end loans--$200K to $500K. Someone please provide the data that shows BLACKS--because that is what this bull sh-- is about, are to blame for those loans. This is the worst bull sh-- I've ever seen pushed by any party. Speaking of low rent... I'm not even going to dignify it with a rebuttal. Link to comment Share on other sites More sharing options...
TPS Posted October 2, 2008 Share Posted October 2, 2008 Speaking of low rent... I'm not even going to dignify it with a rebuttal. Regardless, good to see you active on the political again! Link to comment Share on other sites More sharing options...
Recommended Posts