Blaming brown people for some sh*t rich white dudes did

C

Cypress

Well-known member
Blaming poor brown people for sh*t some rich white dudes did.

Here's a handy tip: When you hear some con bitch and moan that Freddie Mac, Fannie Mae, and the CRA are to blame for the financial meltdown, what they're really doing is trying to shift the blame for some crap that some "free market" Con snake oil saleswomen/men foisted on the rest of us.

Why blame poor brown people? Because its what republicans do when covering their tracks at the scene of a crime. Brown people make convenient fall guys. Everybody suspects them! Case in point:


Private sector loans, NOT Fannie or Freddie, triggered crisis

By David Goldstein and Kevin G. Hall * McClatchy Newspapers

WASHINGTON — As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail.

Commentators say that's what triggered the stock market meltdown and the freeze on credit. They've specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie's and Freddie's financial problems.

Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.

Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height from 2004 to 2006.

Federal Reserve Board data show that:

* More than 84 percent of the subprime mortgages in 2006 were issued by private lending institutions.

* Private firms made nearly 83 percent of the subprime loans to low- and moderate-income borrowers that year.

http://www.mcclatchydc.com/251/story/53802.html
Click to expand...


Here's a handy translation guide, to wingnut speak on issues pertaining to race:

Conservative hack: "Voter ID laws are neccessary to protect the sanctity of voting!"
-Translation: "We want fewer brown people to be able to vote."

Southern White Dude: "Displaying the Confederate flag is a symbol of our heritage!"
-Translation: "We need to show those darkies who's still in charge of the south"

Republican operative: "The financial crises can be laid at the feet of liberal programs like CRA and Fannie Mae!"
-Translation: "Look over there! Brown people caused this, not our mavericky free market theology!"
Click to expand...
 
Point One: Brown people should get fucking ID's like the rest of us. This isn't Tammany Hall anymore.

Point Two: Its not really racist when you could point out that its white oppression that forced brown people into poverty, thus assuring that they would be largely weak prospects for loans and credit...
 
The only people I've heard bringing race into this are idiots like cypress and Barney Frank. Plenty of people of all colors have problems paying their bills. This shit is stupid and it gets us nowhere. Thank Cypress!
 
Brown People insured bad loans that were 70:1 leveraged and over 50% of the Mortages that helped drive up new home starts? That is what Freddie and fannie did, Congress is not "Brown People".
 
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