Let's Blame Black People!!

"Weapons of Mass Deception" are the lies about how the housing crisis is the fault the poor minorities who got loans they couldn't afford. But let's be real: the mortgage companies didn't want to give up their racist practices and are trying to punish the regulators with shifting the blame now, when the real blame lies with them.

I got my first mortgage through the ACORN program. I am white, educated, and got no family help for my first home purchase. The ACORN program helped me get that condo and I paid that mortgage in full when I sold it four years later. Let's not blame ACORN.

When I refinanced my house six years later, the interest-only loan was practically shoved down my throat. I still said 'No'. I'm not Econo-Girl for nothing. The mortgage broker assured me "they" won't let the interest rates get too high. In the end, I got a fixed rate thirty year mortgage. But if someone wasn't as informed as me, they would have taken it, thinking it was a no-brainer.

What the free-marketers, bankers, and mortgage lenders hate to admit: they live or die based on the will of the voters. So if we say so, that's it. Jump, boy, jump. Higher.

1 comment:

The Lazy Iguana said...

A lot of people still think it was all dark folks that caused the meltdown.

The sad thing is that here in Miami, some really nice places went into default. A lot of people who could afford a $1 million home wanted a $5 million home. And they got them. And then they foreclosed.

Now how many risky minorities would it take to equal a $5 million loan?

But it gets better! There are entire condo buildings, still under construction, that are foreclosed. Now who is going to buy a building still under construction for the full loan value? Nobody.

If you want to point the finger at borrowers, I would point it at the DEVELOPERS, SPECULATORS, and HOUSE FLIPPERS. Not people who genuinely wanted to buy a home and actually live in it for a decade or two.

But it is more fun to blame the darkies. And then somehow, because when Obama was practicing law he represented ACORN (along with the US Justice Dept) to get a "motor voter" law passed (like most if not all other states did - even Texas), and ACORN can somehow be tied to this mortgage mess (I am sure a lot of developers obtained loans through ACORN, and lets not forget about the time I was standing in line at the bank when a bunch of ACORN activists busted in and forced the bank, at gunpoint, to loan everyone in the lobby money to buy a house) - that Obama can be tied to the mess as well.

Just like somehow Obama is responsible for all the "voter fraud" - when it was ACORN that pointed out to the election officials that some registrations were questionable, ACORN that went on record saying that some of the registrations were questionable, and state elections officials saying that there have been no cases of people voting multiple times as a result of this.

People are just not buying it.

I early voted already.

I hope Obama wins Alaska and Arizona. That would be classic. I do not think it will happen, but if it does it will be great. We will not have to hear from McCain or Palin ever again.

I also want Obama to sweep all the swing states, by a decent margin. This would kill the neo-con political movement, and force Republicans to redefine who their base really is.