On Sun, Jan 07, 2018 at 06:16:02PM +1000, [email protected] wrote:
In consequence, if you unloaded a house after 2005 November, you
were necessarily unloading it onto someone who was a beneficiary of
an affirmative action mortgage.
On 1/7/2018 7:21 PM, Zenaan Harkness wrote:
And since the game is rigged, the actual beneficiaries were mostly
the banks (they were bailed out after all), and those who sold their
houses and so cashed in on the general Investment Theatre, and "the
tax payer" foot the bill for those got in on the scam. But the banks
were the most significant beneficiaries - they always are.
Lot of banks went bust, and were bailed out. But in many cases, for
example the biggest and villainous of them all, Countrywide, those
running the bank lost their jobs, and their shareholders lost their
investment. https://duckduckgo.com/?q=Countrywide+mozilla&ia=web
Indymac bank (which held most of the Countrywide assets) was seized by
the regulators. Countrywide financial was sold to Bank of America
Homeloans for four billion, which represented a huge loss to Countrywide
shareholders, though not a total wipeout.
Meanwhile a whole lot of brown people and single women got to live in
nice houses free for quite a while.
Yes, what was intended as a big handout to blacks, browns and single
women, largely wound up in the pockets of white folk, myself among them,
as such handouts tend to do. But it was still a big handout to blacks,
browns, and single women.
