Fannie Mae/Freddie Mac

Discriminatory Lending
First of all, this post is way overdue. I should have posted something on this topic 6-8 months ago. In fact the evidence in these videos was taken from sources spanning the past decade. I have made claims in the past that Fannie Mae and Freddie Mac issued loans to very unqualified borrowers. I am using the term "Discriminatory Lending" but probably in a way that most people do, I am talking about what is often termed "reverse racism", which is a stupid term because it is just plain old vanilla racism, but this is the legacy jargon we have to use. In 1977 the Community Reinvestment Act (CRA) was passed under Pres. Carter. In the late '90s (Clinton administration), there was push to relax loan regulations even further so that previously non-qualified borrowers would be issued loans. Why the Democratic Party has been able to dupe the majority of people into thinking this was a Bush/Republican invention and that the poor Dems wanted to push for regulation but were blocked eludes me. It is a complete and utter lie. In fact, it was exactly the opposite. Wake up! People are so shortsighted in their historical perspective that they can't bear to remember the past decade! Anyway, I



Specific Connection to President Obama
This video shows President Obama's connection with Acorn and litigation against lenders who he deemed to be racist because they denied loans to unqualified borrowers, a majority of which were African Americans. I assert that if the numbers just aren't there, you should not be issued a loan. Think about it, if you think that lenders were discriminating based on race, you are basically saying that a lender would turn down profit for the sake of perpetuating racism. Personally, I think loan officers just see you as a dollar sign, and don't care about race. Let's face it... I'll set up a dichotomy either they are "filthy capitalist pigs that will do anything for a dollar" or they are "red-neck racists who happen to be wearing a suit and tie" (belying the fact that many of the loan officers are probably not Caucasian as well). You can't have it both ways, and I believe that the truth is neither of those choices. They are just people doing their jobs within the confines of the then-current legislation. Anyway, I have said my $0.02, watch the video :)