Monday, August 1, 2011

Holder: Approving loans for minorities with poor credit AGAIN? Wait till you see this

Investor's Business Daily, Mustang and I would like you to be appraised of something Eric Holder is doing now that might not surprise you but should alarm every American, especially now with our debt problem:

Eric Holder: Racketeer

Several forms of racketeering exist.  The best known is the protection racket, in which criminals demand money from businesses in exchange for the service of "protection" against crimes that the racketeers themselves instigate if unpaid; it is also known as extortion.  But not all forms of racketeering are illegal; for example, when the government or minority organizations do it, that’s okay.

For years, the Rainbow/Push coalition has threatened American corporations with charges of racism unless they “pony up” large sums of cash to help blacks.  This has been going on for years, and one corporate officer once said that no matter how much these corporations pay, it’s still cheaper than losing revenue to spurious claims of discrimination.

Not to be undone, now the federal government is doing it too.  Led by the racist Eric Holder, writer Paul Sperry of Investor’s Business Daily tells us:

In what could be a repeat of the easy-lending cycle that led to the housing crisis, the Justice Department has asked several banks to relax their mortgage underwriting standards and approve loans for minorities with poor credit as part of a new crackdown on alleged discrimination [emphasis added], according to court documents reviewed by IBD.”

“Prosecutions have already generated more than $20 million in loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist. An additional 60 banks are under investigation, a DOJ spokeswoman says.”

“No Job, No Problem.”

This sounds exactly like the racketeering perpetrated by Rainbow/Push; worse, Obama/Holder appear committed to returning us to the problem that generated the housing crisis to begin with.  And, of course, the video below will show you what started the housing crisis.  Watch at your own risk.

Does this even make sense with an upside down economy?  Do we really need to repeat a huge mistake whose genesis you'll see in the video?  What are your opinions about what Holder's doing AGAIN, NOW?

Mr. Mudd looked like a deer in the headlights, didn't he.  One would think he realized what trouble he was creating for the housing market but just had to keep on keepin' on....for SOME reason. If ONLY people had LISTENED TO BUSH.
z

17 comments:

Trestin said...

Websters should include with its definition of liberalism and image of a child trying to fit a square peg in a round hole.

Z said...

Trestin, good point; Odd you'd use WEBSTER (See my Sunday Faith Blog :-)

Pris said...

It's business as usual. The left only cares about their agenda, come hell or high water!

Corruption at it's finest, as the thugocracy plunders on.

Silverfiddle said...

Of course, all of us realize this is a false correlation. Dr Sowell writes extensively about this form of extortion by guilt.

In reality, the lenders are discriminating against people who cannot pay the money back.

Impertinent said...

Star parker hit the nail on the head....what's Al ( the racist pimp ) Sharpton have to say about this?

"A life of government guarantees and controls is not a formula for building wealth. Freedom and capital markets are. Blacks need to decide which they want.

And entrepreneurship must become part of black culture. Blacks need to get that poor people are not poor because rich people are rich.

The formula for more black wealth: less government, more ownership and initiative."


Unfortunately I believe it's too late. The incentives not to build "wealth" have been ingrained over 3 generations in favor of the former.

http://tinyurl.com/3soar27

Thersites said...

We'd be better off if the government just handed out cash to whoever wanted it... but no, the Left has to bring down the ENTIRE economy.

sue said...

Trestin - Noah or Daniel? (':

Bloviating Zeppelin said...

Let me please state the obvious:

Holder claims black. Obama claims black. Both have Leftist/Socialist histories and ideals.

You were expecting any less?

It's all about spending money that they haven't generated and for which they have no responsibility or accountability.

SCREW -- of course -- the American Taxpayers. Because most of them, at least for a few more minutes, are Caucasoids.

Oh boy. Are your metrics about to change, dudes.

BZ

Scotty said...

When the republicans won the majority in congress. Frank and Dodd should have had charges lodged against them for how they handled Fannie Mae and Freddy Mac.

As usual, the republicans did nothing! They won't do anything now either!

Z said...

Imp is right "Unfortunately I believe it's too late. The incentives not to build "wealth" have been ingrained over 3 generations in favor of the former."

The very idea that they'd try THIS old trick again is astonishing.

And PLEASE see the video I linked, too...Bush DID WARN about Fannie Mae and Freddie Mac MANY TIMES....
the Canadian video people have no trouble showing Americans OUR TRUTH but Americans allow our lefties to live in their own kind of 'gaga' land of misinformation they swallow hook, line and sinker

Impertinent said...

In a world whose purpose is to find Justice...not the Law....criminals like Dodd and Frank would have been dispatched long ago.

The fact is that they have demonstrated and lobbied for their own special interests ( read criminal enterprises from Fannie Mae to Fannie Mac to Leahman Brothers, Goldman Saachs, GE, CitiGroup and AIG ) that have robbed the middle class of their wealth. The criminals have never been charged ( SEC, Greenspan and Timmy Guitner either ) for the fraud and crimes they have perpetuated upon us Americans.

The loss of value in 401k's to CD's to simple stock investments have plummeted in the last 6 years to near zero worth.

And that is what we were led to believe would be there for us in our autumn years.

We've been robbed ( worse that a Madoff ) from a Ponzi scheme that demands jail sentences for everyone from Bonher to Obama.

Impertinent said...

BTW.....has anyone been aware that trhe VP of the US...has declared all of us as "Terrorists".

The hair-plug asshole Biden ( worse than a crap in a bucket ) has labeled us...1/2 of America as terrorists? When these scumbag freaks...refuse to label Islamist scumbags...as the real terrorists?

No...Americans who have decided to protest against the direction their country is heading are now ...Terrorists?

Look...IMHO it's real time to take a shit on these turds....sorry...these people including the VP of the US....are imbecilic
retards that need.....

Sheet...I hate...I actually hate...our reps in government.

Distrust....and hate them.

And the facts are clear......about 8% of Americans trust them.

Lisa said...

And they call the Tea Party Radicals for wanting to put an end to this "radicalism" in our government while Biden the Insignificant calls them terrorists.
And who would know better than the very group who lives by Rules for Radicals?

Lisa said...

Big Dummy offers his usual intelligent input. Maybe you should be outputting on some Obama loving blog. I am sure you would find many like minded f---s like yourself there.

Z said...

Lisa, dumb, but this liberal foul mouth is apparently so interested in Geeeez that he just can't leave. THanks for your response but he has to go..so he's deleted.
Man, back to moderation!
I kind of like it, actually....
but the idea of a person spending time lurking at blogs he/she says are stupid is just too much fun! :-)

Opus #6 said...

This makes sense from the standpoint of destroying capitalism. I wonder what kind of person would want to do that....

Z said...

FROM A FRIEND VIA EMAIL THIS MORNING

"I read your Eric Holder info. What is so coincidental...I was watching HGTV this weekend..about new home buyers...I was shocked to hear them talk about 3% down payments...and they were very current sales. I can't believe it...what a bunch of phonies. who knew we have to watch HGTV to get the real scoop."

Yes, folks, to get what our gov't is doing, we have to resort to House and Garden Television, huh?
I thought this email was amazing......she's right! Who wouldn't wonder at 3% down payments?? Yikes...and those people will be the first on the street when they can't keep up their payments.