Now instead of just ruining the neighborhoods they moved into, Blacks ruined the entire financial system.
Bravo. ************************************************************************ On Wednesday, November 5th, Vote for Barack Obama Right Wing Mike http://www.cafepress.com/rightwingmike --- On Thu, 10/2/08, Adam Buckland <[EMAIL PROTECTED]> wrote: > From: Adam Buckland <[EMAIL PROTECTED]> > Subject: RE: [OT] Is there a link between affirmative action and the > housingbubble/bailout? > To: "ProFox Email List" <[email protected]> > Date: Thursday, October 2, 2008, 10:00 AM > And in the eight years in between the two events how much > did GWB do to > change it.... nothing... > > -----Original Message----- > From: [EMAIL PROTECTED] > [mailto:[EMAIL PROTECTED] On > Behalf Of Pete Theisen > Sent: 02 October 2008 14:21 > To: ProFox Email List > Subject: [OT] Is there a link between affirmative action > and the > housingbubble/bailout? > > Hi Everybody! > > http://www.anncoulter.com/cgi-local/article.cgi?article=275 > > Selected paragraphs: > > "Instead of looking at "outdated criteria," > such as the mortgage > applicant's credit history and ability to make a down > payment, banks > were encouraged to consider nontraditional measures of > credit- > worthiness, such as having a good jump shot or having a > missing child > named "Caylee."" > > "Threatening lawsuits, Clinton's Federal Reserve > demanded that banks > treat welfare payments and unemployment benefits as valid > income sources > > to qualify for a mortgage." > > "In 1999, liberals were bragging about extending > affirmative action to > the financial sector. Los Angeles Times reporter Ron > Brownstein hailed > the Clinton administration's affirmative action lending > policies as one > of the "hidden success stories" of the Clinton > administration, saying > that "black and Latino homeownership has surged to the > highest level > ever recorded." > > "Meanwhile, economists were screaming from the > rooftops that the > Democrats were forcing mortgage lenders to issue loans that > would fail > the moment the housing market slowed and deadbeat borrowers > couldn't get > > out of their loans by selling their houses. > > "A decade later, the housing bubble burst and, as > predicted, > food-stamp-backed mortgages collapsed. Democrats set an > affirmative > action time-bomb and now it's gone off. " > > "Now, at a cost of hundreds of billions of dollars, > middle-class > taxpayers are going to be forced to bail out the > Democrats' two most > important constituent groups: rich Wall Street bankers and > welfare > recipients." > -- > Regards, > > Pete > http://pete-theisen.com/ > > [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
