OK, right wing. Let me see if I have this right

[LuckyTheDog]

Some of you actually believe that lending to minorities is what led to the collapse on Wall Street? What about all those collateralized mortgage obligations? What about the deregulation that facilitated all the trading in CMOs? What about the fact that bond rating agencies basically lied to investors?

Wouldn’t just SOME of that have a more important impact? Do you REALLY want to hang the failure of the nation’s moneyed elite around the neck of the little people?

Are we REALLY supposed to feel sorry for billionaire hedge fund managers and believe they were “duped” by moderate- and low-income families? Seriously?

[RobertSeattle]

1. ..And did this have happen BEFORE Obama became President?

...So you could insure the bail-out in the Republican Socialist model rather than the well-regulated Democratic model?

[sinkingfeeling]

2. See this response.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=4066094&mesg_id=4066094

[LeftHander]

3. No one understands that gibberish...

But they can wrap their little white brains around a deadbeat black man...

So...it works for them.

America is dead. Too many idiots who do the beckoning of the greedy.

[sinkingfeeling]

4. OK, just call them liars. Ask them how the hell a couple of hundred thousand 'poor' people could

bring in $1.3 trillion in bad assets to Wall Street genius bankers?

[louis-t]

5. Y'know I'm curious. If "60% of sub-prime loans went to minorities"

how much of that 60% defaulted? If the percentage is the same as for white, the "60%" talking point is useless.

[sinkingfeeling]

8. Where did you get the 60% of sub-prime loans went to minorities?

[louis-t]

11. Right-wing rhetoric.

LTTE, etc. Saying that mortgage industry was pressured to loan money to minorities and that caused the meltdown.

[Javaman]

6. what gets me is this...

so many people on DU get so pissed off about the people that "bought to much house" or "didn't qualify so screw them" or my fav, "they fucked themselves so screw them", is that these people that "destroyed" the economy still had to be APPROVED for the loan. Got that? they still had to be APPROVED!

That is why, the responsibility of this colossal mess falls squarely on the shoulders of the lenders.

They could have easily said, "no fucking way are you approved for this 500K house with a 20k per year jobs, are you fucked in the head?" but no. They stamped the approval all over the applications and even going so far as coaching the applicant in how to fill out the application.

So folks, all this misplaced anger has nothing to do with the people who borrowed the money, it's the lenders.

repeat after me, it's the lenders. easy? now go away and stop bitching and lets help the people of this nation instead of the fucking 2% rich bastards.

[KG]

7. +1

[AldebTX]

9. If That's The Case

Lets just buy the "poor" people's mortgages and let the rest go.

[Ilsa]

10. That is so obscene! So much of the bad loans were

spec lending for property not occupied by the owners. Idiot investors who thought they were so smart that they could just flip the property in six months and make a bundle were part of the problem in this.

I wonder if it is possible to get ahold of the classification of SFR to minorities that went belly-up just to prove them wrong?