Capital New York

jack_gott commented on Bloomberg: 'Plain and simple,' Congress caused the mortgage crisis, not the banks

interesting how frightened everyone is to acknowledge the truth: all this...and not a word on the monetization of racial tension... all this...and not a word on how we're living in the wreckage of a U.S. housing finance collapse caused by an Ivy-laden experiment to increase black American home ownership. reparations only happened after the 'elites' found a way to profit from it. >Our beloved virtuous omniscient American Oxbridge Tribe successfully used government force to compel lending to blacks and hispanics who were horrible credit risks, then the AOT made billions by using government power to securitize and monetize those mortgages (via Freddie and Fannie), >The amounts not tucked into the Hamptons property market was distributed to lobbyists and political campaigns; >now they blame it on others' "greed", and their solution is that we all give them even more power. >if anyone dares to challenge their alternate history? would anyone dare ask Franklin Raines to return his $128 million bonus? oh dear no...that would be....'racist') >in the unlikely event that anyone desires to understand recent history: go peak at the 1994 "Policy Statement on Discrimination in Lending" by Clinton's "Interagency Task Force on Fair Lending", and see what happened thereafter).

Posted on November 2nd, 2011 9:01am