A Crisis of Culture

[Tre]

Because the evil banks are interested in keeping them down and would never foreclose on a failed white business?

Probably explains why only blacks are losing their houses right now, the bastards!

I may not have made it clear in my prior post, but my statement that you referenced was about economic class, not race.

[The Ugly]

I may not have made it clear in my prior post, but my statement that you referenced was about economic class, not race.

Still, banks are about MONEY, no? Why invest in a failed venture?

This ain't class war or commentary on the American Dream; it's simply capitalism sorting out the weak. No bank is gonna pull the plug on a successful enterprise, which undermines any keep-em-down conspiracy.

[dr.chimps]

Still, banks are about MONEY, no? Why invest in a failed venture?

This ain't class war or commentary on the American Dream; it's simply capitalism sorting out the weak. No bank is gonna pull the plug on a successful enterprise, which undermines any keep-em-down conspiracy.

Kind of ironic since the strong farked up this whole latest financial mess and had to be (again) bailed out by the weak - ie. private profit and public losses. 

[The ChemistV2]

Still, banks are about MONEY, no? Why invest in a failed venture?

This ain't class war or commentary on the American Dream; it's simply capitalism sorting out the weak. No bank is gonna pull the plug on a successful enterprise, which undermines any keep-em-down conspiracy.

Unfortunately, through policies like the Community Re-investment Act, banks and mortgage companies were basically forced to lend money to the absolute worst credit prospects imaginable..knowing the chance for repayment was zilch. Without trillions made in sub-prime loans, we wouldn't have had Wall street packaging this crap as investments and at least one major cause of the economic meltdown would have been averted. Amazingly, Obama wants to expand this act even further.

[ManBearPig...]

Kind of ironic since the strong farked up this whole latest financial mess and had to be (again) bailed out by the weak - ie. private profit and public losses.  

no, they never had to be bailed out in the first place.  no one in their right mind who supports capitalism supported the bailout clusterfuck.  billions of dollars later, we're worse off than we were, yet the money's gone.

the "public" was very much against bailouts , as were 99% of america's businesses who get the shaft because they're not "too big to fail".

the powers that be just signed the checks, and raised a big middle finger to the american public, very much like they're trying to do with the healthcare shit now.

[The Ugly]

Kind of ironic since the strong farked up this whole latest financial mess and had to be (again) bailed out by the weak - ie. private profit and public losses. 

Capitalism would never have approved so many ridiculously high-risk mortgages. That's government telling banks to lower their standards because "everyone deserves a home."

[Tre]

Unfortunately, through policies like the Community Re-investment Act, banks and mortgage companies were basically forced to lend money to the absolute worst credit prospects imaginable..knowing the chance for repayment was zilch. Without trillions made in sub-prime loans, we wouldn't have had Wall street packaging this crap as investments and at least one major cause of the economic meltdown would have been averted. Amazingly, Obama wants to expand this act even further.

You only got a part of that story right. 

A ton of foreign money got dumped into the U.S. housing market (don't ask me for exact figures), which helped to artificially inflate home prices in certain areas.  This was aided by the devaluation of the dollar vs foreign currencies.   

Lenders weren't forced to make bad loans, but *chose* to because, in the end, they were going to end up with any amount of cash paid in, PLUS the properties themselves.  Realtors, mortgage brokers, banks, and even appraisers were all in on it.

[The Ugly]

Unfortunately, through policies like the Community Re-investment Act

Yes. Very anti-capitalism, I'd say.

[ManBearPig...]

You only got a part of that story right. 

A ton of foreign money got dumped into the U.S. housing market (don't ask me for exact figures), which helped to artificially inflate home prices in certain areas.  This was aided by the devaluation of the dollar vs foreign currencies.   

Lenders weren't forced to make bad loans, but *chose* to because, in the end, they were going to end up with any amount of cash paid in, PLUS the properties themselves.  Realtors, mortgage brokers, banks, and even appraisers were all in on it.

i don't know about this man, sounds like something sevastase would post.

what i do remember however is people buying houses and re-selling them before they even closed on them for 50k more!  everyone was panic buying for a long time, as if the houses were somehow going to go out of style.  shit, i remember in 2003, i was out of college for a month, and bought a condo.  no, i didn't have a job yet and i lived with my parents and i was preapproved for 100% financing.  i sold it two mortgage payments later (that i took a cash advance from a credit card on) and made 23k.

[Tre]

no, they never had to be bailed out in the first place.  no one in their right mind who supports capitalism supported the bailout clusterfuck.  billions of dollars later, we're worse off than we were, yet the money's gone.

the "public" was very much against bailouts , as were 99% of america's businesses who get the shaft because they're not "too big to fail".

the powers that be just signed the checks, and raised a big middle finger to the american public, very much like they're trying to do with the healthcare shit now.

99% correct. 

Those of us who have solid incomes and even those who've lost their jobs all opposed the corporate bailouts given to the super-wealthy by both the Cheney and Obama Administrations. 

There is an argument for sustaining Detroit (no one wants to see entire regions 'die'), however 'we the people' need to take control and not allow them to continue with things like their stupid job banks, etc.

[Tre]

i don't know about this man, sounds like something sevastase would post.

what i do remember however is people buying houses and re-selling them before they even closed on them for 50k more!  everyone was panic buying for a long time, as if the houses were somehow going to go out of style.  shit, i remember in 2003, i was out of college for a month, and bought a condo.  no, i didn't have a job yet and i lived with my parents and i was preapproved for 100% financing.  i sold it two mortgage payments later (that i took a cash advance from a credit card on) and made 23k.

Outstanding investment for you  , but the lenders that provided 100% financing around the country did so knowing that it was an extremely profitable venture.  Sure, we've lost some small banks as a result, but everyone else was 'too big to fail', even a foreclosure factory like Countrywide.   

[dr.chimps]

Capitalism would never have approved so many ridiculously high-risk mortgages. That's government telling banks to lower their standards because "everyone deserves a home."

You might be surprised what 'capitalism' would be willing to do if there was a glint of profit in it. But I think you know this. Unvarnished capitalism like that objectivism shit Ayn Rand used to spew doesn't work in the real world.   

[uberman09]

Its sad that people died in wars to protect a way of life, that is now being abused by bleeding hearts the political world over, there are no more strong leaders, we all pay higher taxes to support filth the world over, its unsustainable in the longterm. Comes back to democracy and capitalism, two ways of life that will eventually bring about our downfall.

so true. generations of ireplacable men of valor butchered just for this shit we see today? irony.

[sean]

i don't know about this man, sounds like something sevastase would post.

what i do remember however is people buying houses and re-selling them before they even closed on them for 50k more!  everyone was panic buying for a long time, as if the houses were somehow going to go out of style.  shit, i remember in 2003, i was out of college for a month, and bought a condo.  no, i didn't have a job yet and i lived with my parents and i was preapproved for 100% financing.  i sold it two mortgage payments later (that i took a cash advance from a credit card on) and made 23k.

I was in the same position after college, yet I just couldnt get my head around the fact that with almost Zero income on the books, how i could qualify for a home.. yet people all around me were.. And I see why now!  Trust your gut is the moral i guess.

[uberman09]

100% correct. 

The so-called 'immigration debate' is nothing but a smokescreen by both sides, as both Democrats and Republicans are trying to win Latino loyalty.  Republicans know that their constituents want them to appear anti-immigrant, so they talk about walls and having token anti-Mexican laws in small towns in Texas.  The Dems, on the other hand, know that they need to appear to be all about equality, so they create 'safe towns' and the like.  Meanwhile, we ALL benefit from the cheap labor the immigrants provide. 

Remember when the nation's biggest banks like Wells Fargo and Bank of America began giving huge mortgages to non-citizens, who only had to show proof of having paid utility bills in order to demonstrate creditworthiness?  Where was the outrage from *either* side of the aisle on that? 

It never came.  Yet, an American citizen who's struggled 20 years to save up $10,000 for a down payment and can afford to pay a $900-1000/month mortgage - we know this, because that's what his monthly rent has been and he's always paid it on time - can't get enough of a loan to buy anything more than a double-wide and a patch of land in the country, while the non-citizens are moving wholesale into the best master-planned communities where their kids will be able to walk to school, while the poor sap's kids will have to ride the bus...a service that he has to pay extra for.   

money , pyramidal society...same old story.

[The Ugly]

You might be surprised what 'capitalism' would be willing to do if there was a glint of profit in it. But I think you know this. Unvarnished capitalism like that objectivism shit Ayn Rand used to spew doesn't work in the real world.   

Sorta my point, though: No profit in this case.

I can't argue Ayn Rand to any degree, but I would much rather fail under capitalism than anything else.    

[Tre]

Capitalism would never have approved so many ridiculously high-risk mortgages. That's government telling banks to lower their standards because "everyone deserves a home."

Don't act like the government is working for this 'everyone' you speak of.

They're the same group of people who - in the blink of an eye - also allowed those banks to increase maximum credit card interest rates to usurious levels and to collect unconscionable fees for overdrafts, over-limit transactions, late payments, etc. while ensuring that the credit card companies had unchecked latitude for deciding when to raise a person's rate or to lower his credit limit.  It was legal for the bank to lower a person's credit card limit and to tag him with over-the-limit fees for as long as the balance was over the new limit, even though he'd been under the limit when the purchases were made. 

[The Ugly]

Don't act like the government is working for this 'everyone' you speak of.

How did you get that from my post?

[lax]

I don't see this as a race issue at all. 

Every weekend I talk to a lot of trashy people who sit on barstools drinking and smoking all night, many of whom complain about not having health insurance.  I've been buying my own for years, even as the price steadily goes up.  I would rather pay that, than my cell phone bill.  I'm pretty flippant about paying bills, doing it when I get to it - but the health insurance gets paid automatically when I get it.

I am with you on that

[lax]

And what about the doctor? How is the doc's health? Doctors are notorious for telling others to be in shape, yet they are in terrible physical condition. One time I went to the doctor and he told me that I was obese at 5'5 and 168, yet I had a 6 pack, got up @5am every morning to run, he had more than a Goodyear spare tire, and he smoked.
Plus this doctor, working in the er didn't say what shift they work, and chances are doesn't get to eat a quality meal, just something on the run, which could mean junkfood.
Also, that doc works in Miss, a state that is the poorest in the US, and yes has a lot of black folk. Miss, never recovered from the Civil War. If that doc were to have worked in some parts of the Midwest and south, the doc would say the same thing about rednecks and poor whites, who'd rather spend money on a gun rack and camo and cigarettes and get drunk and beat up their girlfriends while living with her in a trailerpark and not paying rent
 have alot of the same here in Maryland.
No lie, I had a woman come in and want file a retraining order against a 6 yr old, the 6 yr old hit her 6 yer old son. She was told she couldn't, she what about the parents they do drugs all the time in their trailer. She was told she couldn't file for that, but call child protective services. She was also told that little boys fight, and that's what her son needs to learn, to defend himself. Guess what she told that child in front of my face? She told him,

"If he comes at you again, I want you to get a brick, no go to the kitchen and get a knife, and stab him!"

I yelled at her for telling her 6 yr old to stab another 6 yr old, and kicked her out.
Lax, was this one of your esteemed relatives?

No, not my relative. And your post and suppositions here are pretty weak, actually. Just sayin'.

[lax]

sorry moose jay, there is no board certified physican in that Mississippi town using that name. 

hell, I don't know, someone e-mailed it to me. Either way, it is resoundingly true.

[Wiggs]

I stopped going to the doctor
Last year I went to get my bloodwork done
A consultation alone here with a doctor costs 55euros
So last time I was at doctors,a black and a polish woman were in front of me in queue
They flashed their medical card (free healthcare pass) as I paid my 55euros
Sickening

Maybe you should become a black or a polish women.

[dr.chimps]

hell, I don't know, someone e-mailed it to me. Either way, it is resoundingly true.

LOL. Crack reporting, Woodward. 

[Wiggs]

I love it how so many morons will blame the blacks and we are 12% of the population in the states and not every black is hurting A guess would be half. So 6% of the people are causing all these problems or 6% of 300mil.  No.  As MattC loves to say, the numbers don't add up...Let me guess? You want to throw in the Mexicans also? Oh brother...Like many have said it's not mainly a race problem although I will say it contributes to a degree.

BTW health care is a RIGHT not a privilege. So you facking imps that feel you can make a dollar of everything can go fack yourselves...
Just look where we rank in health care and that will show you how great we're doing since we always pride ourselves in being the facking best at everything.  France is #1 in health care.  Perhaps we can buy a clue...When you have people of the middleclass that are one surgery aways from being bankrupt. this is a problem...

FUCK YOU ALL and I HOPE YOU CHOKE ON BLACK COCKS, GO TO THE HOSPITAL AND THEY BANKRUPT YOU FROM THE JIZZ THE MUST PUMP FROM YOUR GUTS...

[Parker]

No, not my relative. And your post and suppositions here are pretty weak, actually. Just sayin'.

Actually, no they don't . The posts made by Tre, The Ugly, ManBearPig, Dr. Chimps, all have quite the redeaming value than anything you have posted, especially since it is a email and come to find out that person doesn't exist. You are like the people who send money to the reps of the Nigerian National Bank, just from a email.