All things ugly: Racism, Class Warfare, the Financial Crisis, A Black President...this is the bottom line bigotry of the Republican neocon...

  • coolarmydude

    Posts: 9190

    Oct 13, 2008 3:17 PM GMT
    Read this link about the "cause of this financial mess": http://articles.moneycentral.msn.com/Banking/HomeFinancing/did-poor-minorities-cause-the-crisis.aspx

    The article is referring to this video episode:



    I prefer a political party that will fight for all. The qoute at the end in which Ludlow says that not everyone can own a home just reaks of aristocratic elitism. THE FREAKING NERVE! "In order to form a more perfect union" does not mean to create a Haves versus Have Nots system.


    It just doesn't pass the common sense (or decency) test. Isn't it only about 4-6% of subprime mortgages that are in trouble? If not, it's still awfully low. It's not about the legislation that caused this; it's how the banks turned people on to the idea that they can max out their budget by living in a 50%+ costlier house. And don't forget all the speculators who artificially inflated housing prices in order to make boucoup cash!
  • GQjock

    Posts: 11649

    Oct 13, 2008 4:37 PM GMT
    This is basically blame the victim and SO wrong on so many levels

    First of all the Mortgage crisis is really what this economic meltdown is all about
    The Mortgage crisis is only a symptom of what we've been suffering under for the last 30 yrs

    and that's REAGAN ECONOMY
    The Government should be whittled down to the bare bones and thrown out with the bathwater mentality
    Reganomics has given free reign to Corps ..... Corporate welfare to the tune of BILLIONS and BILLIONS of dollars
    Tax Right offs
    Millions upon millions of jobs being shipped over seas
    Regulations slashed to the point that Corporations were writing their own laws
    Lobbyists basically handing out money and jobs to former governmental workers like candy for favorable laws
    on and on year after year
    The K Street Project
    And now it's finally come home to roost
    Banking Laws that were in place since the last depression were stricken
    there was money going from bank to bank and credit swaps being traded with out ANY oversight

    And YOU (the generic you) WANNA BLAME some poor minority families for THIS!!!!!
    Have you lost your mind?
    Wow.... if you think because some black families caused all this mess because they got a mortgage that they couldn't afford you really got some other problems that you need to attend to first
  • Posted by a hidden member.
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    Oct 13, 2008 6:17 PM GMT
    Poor White Americans and people of color has always been the perfect SCAPEGOATS! icon_biggrin.gif
  • Koaa2

    Posts: 1556

    Oct 13, 2008 6:24 PM GMT
    Good that Joe didn't let him get away with it.

    It is the new philosophy of "Privatizing Profit and Socializing Risk", and we, and the Politicians, are buying into it.There will be no end in sight!