The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: Obama 'leads' blacks into poverty||Date: 10/8/2012 1:12 PM|
|Author: telegraph||Number: 647692 of 867742|
warrl:"To the extent that this is the President's fault, that would be Bush not Obama.
To the extent that it's Congress's fault, blame is about equally divided between the two parties."
Going back to the Jimmie (peanut farmer) Carter days, it was the progressives who came up with the Community Re-investment act, that extorted banks into starting to make loans to people not qualified to own them, but 'deemed' a special interest group.
That program was expanded under Bill, the groper, Clinton....forcing banks to make more crap loans.......at the behest of the thugs like Obama (who, as a law-yer sued banks for not making crap loans and extortion special concessions)......and Pelosi.....and a whole raft of other daft CA type libs who wanted to feed a housing bubble.
When it burst...it hurt minorities, who had put all they had into buying a house they should not have bought for the most part..... and wiped out most of their assets in one big swoop. Yepper, the progressives killed the wealth of the middle class....their savings down the drain due to 'owning' a home they shouldn't have gone near.....
Now, of course a few republicans went along....more people buying houses with borrowed money, on credit they didn't qualify for...but it was more jobs and more sales of stuff...to furnish the houses with borrowed money and credit.......
SOmewhere personality responsibility went out the window along with common sense, but that was foisted upon the masses by the progressives who had to teach that everyone was 'equally qualified' to buy a house, buy a fancy car, fancy clothes, $200/month cell phone plans, two pounds of gold neck chains, etc....
All I can say is that under Obama..the middle class has been wiped out. Joe Biden said it so it must be true.
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|