Here We Go Round the Mulberry Bush Again …
19th July 2017
Steve Sailer turns over a rock.
Millions of dollars will soon be spent in Richmond to help increase the number of African-Americans homeowners. A newly announced partnership between Housing Opportunities Made Equal of Virginia, Inc. (HOME) and Wells Fargo will provide $4 million to help close the racial home ownership gap.
…
Some things I discovered back in 2008:
– There are a gigantic number of these type of “fair housing” NGOs across the country. One national association of them had over 600 organizations as members.
– A lot of these NGOs fighting white racism in mortgage lending are run by white people like Ms. Crislip.
– A $4 million payoff is a lot to an NGO, but is a minor cost of doing business to one of the Four Big Banks like Wells Fargo. The mortgage market is so big that the word “trillions” comes up: for example, in January 2005, Countrywide Financial launched the metastasization of the Housing Bubble when Angelo Mozillo, having attained agreement from Fannie Mae to buy his dubious mortgages, announced his plan to lend One … Trillion … Dollars to minority and lower income borrowers by 2010.
– The Obama Administration had lots of schemes to rake off mortgage money to its allies in these kind of NGOs that search out examples of disparate impact and trumpet them until they get paid off.
July 20th, 2017 at 10:28
“The Obama Administration had lots of schemes to rake off mortgage money to its allies”
Leaving aside the fact that this statement–accepted as true by all conservative Kool-Aid drinkers–is unsubstantiated, I get the distinct impression that the author is jealous, along the lines of, “Why didn’t I think of that?”
Of course President Clown has his own schemes, involving his golf and hotel properties, but we’re supposed to look the other way on those.
July 20th, 2017 at 12:40
Said ‘schemes’ based on value for money, unlike the soak-the-taxpayer schemes of the Obama crowd.
Good luck ‘looking the other way’ in re Trump, since the DemLegHump media can’t seem to talk about anything else. ‘Illegal immigration is down? Never mind that – RUSSIA!’ ‘Working-class job growth is up? Never mind that – RUSSIA!’ ‘Democrats just can’t seem to win elections these days? Never mind that – RUSSIA!’ ‘Hillary gave 20% of our uranium supply to Russia in exchange for donations to the Clinton Foundation? Never mind that – TRUMP!’