I really can't believe that this country that has come so far still has elements of this left in it. I know everyone hates the race card, but blame basso and other who are no promoting this crap with right wing articles, that this mortgage mess is the fault of initiatives for home ownership to low income minorities. There is no evidence of this. No one has provided evidence that these low income minorites are sub prime borrowers. No one has provided evidence that these are the mortgages that are defaulting. No one has provided evidence that these are the homes that are falling in value relatvie to the mortgages that are being secured by them. before you buy into this crap, realize that the highest rates of default are in towns like las vegas, where the second home phenomenon is over the top. its in the vaction spots of florida, the time shares, all these people who bought second homes hoping to flip them, as investments, etc. IT IS NOT, I REPEAT NOT, low income housing that is the problem. These low income housing iniatives have been around since the seventies. everyone isn't all of sudden defaulting on these homes. i really thought this tatic of blaming minorities for disasters had disappeared in this country. i guess not. like i just posted in another thread, do you know how hitler rose to power. do you know who he blamed for germany's economic mess after wwi. do you know what happened to those people he blamed. it really is the 1930s all over again and its pretty sad.
Thanks for the different perspective, pgabriel. I, for one, agree with you. I know it's purely anecdotal, but from my experience, the people I've known who have defaulted on their mortgages were people who bought these stupid McMansions that were waaaaay beyond their means.
It really shows how narrow-minded some people are. They can't see anything other than through a tired old prism of narrow partisanship and race. There have been a lot of people on here posting substantive things about the collapse of the financial markets that have a lot of good content on this BBS. Yet a few guys who I guess either can't understand it (because it's fairly complicated problem and not easy to get on the first go-round) or don't want to understand it keep trying to drag the discussion into a pre-set box which has very little connection to reality - and surprise, features a familiar cast of villains. I imagine it's even more disgusting over on the FREEPER forums and that the right wing hate groups have picked up these themes spun this into an even more depressing fantasy.
You are correct. It is NOT the low income housing that is the problem. There's a need for that. It's the corrupt PEOPLE running the low income housing programs and the way it's set up.
yeah, obviously with a black man having a legit shot at the presidency, it does seem extreme, I wanted to just show how this is a tried and true tatic not just in the history of the united stated, but the world. obviously when germany's economy collasped after ww1 for a lot of the same reasons now, the blame on jews went on jewish bankers. so its a tad bit different. and obviously we aren't head for a holocaust. its just anecdotal to demonstrate how people always look for scapegoats.
