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Tuesday, September 30, 2008

Blame the Niggras part II

last week a buddy of mine blogged Blame it on the niggras. In this blog he was commenting on the fact that some on the right are attempting to pin this whole financial crisis on the back of black folks. Now Ann Coulter has joined the bunch with her latest column.
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Looks like Ann Coulter has slithered out from what ever dark, damp hiding place she calls home to pen another masterpiece of sheer stupidity. She's now claiming that this whole financial crisis is the fault of niggras, liberals and Bill Clinton. According to Coulter liberals in the Clinton Administration put undue pressure on lending institutions like Fannie Mae and Freddie Mac to make more loans to poor and minorities. According to Coulter they were forced to practice "Affirmative Action" with their lending policies

Coulter writes:

“Under Clinton, the entire federal government put massive pressure on banks to grant more mortgages to the poor and minorities. Clinton's secretary of Housing and Urban Development, Andrew Cuomo, investigated Fannie Mae for racial discrimination and proposed that 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low- to moderate-income borrowers by the year 2001. Instead of looking at "outdated criteria," such as the mortgage applicant's credit history and ability to make a down payment, banks were encouraged to consider nontraditional measures of credit-worthiness, such as having a good jump shot or having a missing child named "Caylee."

Threatening lawsuits, Clinton's Federal Reserve demanded that banks treat welfare payments and unemployment benefits as valid income sources to qualify for a mortgage. That isn't a joke -- it's a fact.”

But she’s not done. She then goes on to write later in her piece:

“In 1999, liberals were bragging about extending affirmative action to the financial sector. Los Angeles Times reporter Ron Brownstein hailed the Clinton administration's affirmative action lending policies as one of the "hidden success stories" of the Clinton administration, saying that "black and Latino homeownership has surged to the highest level ever recorded."

I guess Ann never stopped to think that maybe Black and Latino home ownership surged because of a strong economy and record low unemployment rates during the Clinton years. Unlike the “good economy” of the 1980’s. The jobs created during that time actually paid decent wages and allowed many people the opportunity to finally be in a position to afford to purchase a home.

Then she comes up with gem of a statement:

“A decade later, the housing bubble burst and, as predicted, food-stamp-backed mortgages collapsed. Democrats set an affirmative action time-bomb and now it's gone off.”

Nice……

She finally ends her column with your typical right-wing rambling about Democrats and Political Correctness. What ever……

I would like to thank Ann Coulter for clearing this up for me. See I was thinking this whole financial mess was caused by all sorts of complicated economic principles and circumstances. But now I know it is much simpler than that. It was all the fault of liberals, Democrats, the Clintons and those uppity nigras buying houses they had no business buying.

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