Oh I know why it crashed, it crashed due to the CRA, the Community Redevelopment Act. This pushed financial institutions to loan to people who were a poor credit risk meaning they had shitty credit because they didn't pay their bills. So instead of turning down their loan application the government in all their stupidity decided that it would be a good thing, in fact a forced thing that banks etc grant loans to the shitty credit people and to make up for the banks increased risk of loan default they should just charge these shitty credit people a higher interest rate which would increase the amount of their payment thereby practically ensuring the shitty credit people defaulted on the loan. What had been ILLEGAL for a financial institution to do, to give disparate treatment to people applying for the same loan type, like you know, charging black people more money for the same thing that a white person would get for cheaper was now LEGAL! THANK YOU BILL CLINTON. Democrats are not your friends if your black or a minority. Wake up!
Oh I know why it crashed, it crashed due to the CRA, the Community Redevelopment Act. This pushed financial institutions to loan to people who were a poor credit risk meaning they had shitty credit because they didn't pay their bills. So instead of turning down their loan application the government in all their stupidity decided that it would be a good thing, in fact a forced thing that banks etc grant loans to the shitty credit people and to make up for the banks increased risk of loan default they should just charge these shitty credit people a higher interest rate which would increase the amount of their payment thereby practically ensuring the shitty credit people defaulted on the loan. What had been ILLEGAL for a financial institution to do, to give disparate treatment to people applying for the same loan type, like you know, charging black people more money for the same thing that a white person would get for cheaper was now LEGAL! THANK YOU BILL CLINTON. Democrats are not your friends if your black or a minority. Wake up!
What’s the opposite of a Midas touch?
I have but one upvote, please take it