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caniff
Joined: 03 Feb 2004
Location: All over the map
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 Posted: Fri Aug 09, 2013 9:19 pm Post subject: |
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| bucheon bum wrote: |
| Yeah, something like that. |
So sorry BB, I had half-read the thread (guessing that it was just the typical establishment-suckling piffle that seems to often be puked forth from certain quarters) and thought that my comments were in relation to what is, in a larger sense, the morally-bereft wasteland that is DC.
We desperately as a people need a restart if we are to have any real hope for future generations, and if you think that's not true your head is firmly planted (or you somehow think the current status quo is the way to go as you believe that you will continue to benefit from it, which essentially makes you a piece of crap).
Nothing against you BB, but as a real person living in the real America, I have to say that DC sucks on multiple levels. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sat Aug 10, 2013 6:14 am Post subject: |
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Cross-post from off-topic.
HUD should definitely "gather data on segregation and discrimination in every single neighborhood" and then take reasonable steps to remedy it.
Forbes: Blacks poorer homeowners
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| The recent crash . . . show[s] how meaningful this is: White median net worth is down by only 16%, while black median net worth is down by 50%. This is because the stock market has significantly rebounded and compensated for whites’ losses in home equity, but blacks, without comparable stock investments, have not benefited. |
Forbes.
Wealth Gap Rises between Whites and Blacks, Latinos
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From 2005 to 2009, inflation-adjusted median wealth fell by 66% among Hispanic households and 53% among black households, compared with just 16% among white households.
As a result of these declines, the typical black household had just $5,677 in wealth (assets minus debts) in 2009; the typical Hispanic household had $6,325 in wealth; and the typical white household had $113,149. |
See also:
Housing Crisis hits Blacks the hardest
Blacks, Latinos lose major ground in Homeownership
In America, the color of your skin greatly determines your wealth. |
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Titus
Joined: 19 May 2012
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| Posted: Sat Aug 10, 2013 6:38 am Post subject: |
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| Kuros wrote: |
It is totally fair to say that America has denied to African-Americans not only the American Dream, but even a fair rental market. |
There is no American dream. That's housing industry marketing.
It'd be beneficial for policy to be outcome focused and not process/platitude focused. |
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Titus
Joined: 19 May 2012
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bucheon bum
Joined: 16 Jan 2003
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| Posted: Sat Aug 10, 2013 6:53 am Post subject: |
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| caniff wrote: |
| bucheon bum wrote: |
| Yeah, something like that. |
So sorry BB, I had half-read the thread (guessing that it was just the typical establishment-suckling piffle that seems to often be puked forth from certain quarters) and thought that my comments were in relation to what is, in a larger sense, the morally-bereft wasteland that is DC.
We desperately as a people need a restart if we are to have any real hope for future generations, and if you think that's not true your head is firmly planted (or you somehow think the current status quo is the way to go as you believe that you will continue to benefit from it, which essentially makes you a piece of crap).
Nothing against you BB, but as a real person living in the real America, I have to say that DC sucks on multiple levels. |
I was actually agreeing with you for the most part. I wasn't defending DC, just explaining it. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sat Aug 10, 2013 11:11 am Post subject: |
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That's a glib way to put it. Black communities were reverse red-lined. Mortgage brokers came to their door, sold them 80/20 ARMs, told them they'd be fine if they refinanced, and then black communities drowned in the collapse of the values of their homes. Three foreclosures on a block and your house could become about as valuable as your car, for net present valuation purposes.
Brokers targeted many of these individuals with lower credit scores. Its not like they heard the 'American Dream,' got all googly-eyed, and lost their way. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sat Aug 10, 2013 4:36 pm Post subject: |
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The repeal of Glass-Steagall, signed into law by Clinton under the watchful eye of Larry Summers, and the resultant securitization of mortgage packages sold to the unwitting/greedy/et al around the world (which were mostly rated "AAA" by the BS rating agencies) was a watershed moment for the globalist scum.
When the F are enough people gonna figure out there's a massive screw going on? It's been happening for decades, ferchrissakes.
I guess the doings of Honey Boo-Boo is too captivating for the vast army of retards currently wasting space in my country for them to take a second to ponder why I and many like me are pissed that our tax dollars flow into their fat, uneducated mouths and that they allow (through their collective ignorance) shocking acts of depravity to be perpetrated by an obviously criminal regime (also on our dime).
I'm f'in sick of it, and I have no time nor respect for anyone who gives the whores in DC (which is, generally speaking, what they have proven themselves to be time and time again) even an ounce of credence.
Sorry for the rant, but I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. We're well past the point of rationally being able to expect an incremental approach accomplishing f-all. |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sat Aug 10, 2013 6:21 pm Post subject: |
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| caniff wrote: |
I'm f'in sick of it, and I have no time nor respect for anyone who gives the whores in DC (which is, generally speaking, what they have proven themselves to be time and time again) even an ounce of credence.
Sorry for the rant, but I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. We're well past the point of rationally being able to expect an incremental approach accomplishing f-all. |
Let's deny DC the vote; let's make sure they don't get a Representative! |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sat Aug 10, 2013 7:32 pm Post subject: |
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| Kuros wrote: |
| caniff wrote: |
I'm f'in sick of it, and I have no time nor respect for anyone who gives the whores in DC (which is, generally speaking, what they have proven themselves to be time and time again) even an ounce of credence.
Sorry for the rant, but I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. We're well past the point of rationally being able to expect an incremental approach accomplishing f-all. |
Let's deny DC the vote; let's make sure they don't get a Representative! |
Better yet, just let a group of elites run our lives! |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sat Aug 10, 2013 8:42 pm Post subject: |
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| caniff wrote: |
| Kuros wrote: |
| caniff wrote: |
I'm f'in sick of it, and I have no time nor respect for anyone who gives the whores in DC (which is, generally speaking, what they have proven themselves to be time and time again) even an ounce of credence.
Sorry for the rant, but I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. We're well past the point of rationally being able to expect an incremental approach accomplishing f-all. |
Let's deny DC the vote; let's make sure they don't get a Representative! |
Better yet, just let a group of elites run our lives! |
Since we're exchanging ridiculous ideas regarding DC, I will submit my plan to relocate the District of Columbia to become the District of Cahokia.
The capitol of the U.S. should be near the center of the 48 States, it should be in the Midwest, and it should be on the Mississippi River. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sat Aug 10, 2013 9:21 pm Post subject: |
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| Kuros wrote: |
| caniff wrote: |
| Kuros wrote: |
| caniff wrote: |
I'm f'in sick of it, and I have no time nor respect for anyone who gives the whores in DC (which is, generally speaking, what they have proven themselves to be time and time again) even an ounce of credence.
Sorry for the rant, but I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. We're well past the point of rationally being able to expect an incremental approach accomplishing f-all. |
Let's deny DC the vote; let's make sure they don't get a Representative! |
Better yet, just let a group of elites run our lives! |
Since we're exchanging ridiculous ideas regarding DC, I will submit my plan to relocate the District of Columbia to become the District of Cahokia.
The capitol of the U.S. should be near the center of the 48 States, it should be in the Midwest, and it should be on the Mississippi River. |
Let's have it on a floating island and the representatives and senators will have to compete to see how many coconuts (pork) they can get.
Maybe not the best idea, but I think it would be an improvement over the current model (and my money's on California for the win based on past events). |
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Titus
Joined: 19 May 2012
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| Posted: Sun Aug 11, 2013 6:11 am Post subject: |
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| Kuros wrote: |
| Black communities were reverse red-lined. Mortgage brokers came to their door, sold them 80/20 ARMs, told them they'd be fine if they refinanced.. |
On the one hand you seem to want them treated equally, as if they're actually equal, and then on the other hand you speak of them as if they have zero agency. Which is it? Either blacks are intelligent enough to look over a mortgage application or their agency in the economy/society needs to be limited.
Maybe you're close to my perspective: The economy is a giant scam perpetrated by the intelligent against the dumb. The top and the bottom need to be severely limited in their actions.
xxx
Re: DC. The worst thing about it is that it is drenched in wealth and capital and yet continues to be a totally mediocre city. I'd rather spend time in KC or Helena. DC is filled with the most boring people. Every time I go I meet the same generic khaki wearing douchebag and it rots my brain to think he has actual power over our lives.
| Quote: |
| I think people need to start understanding that we need some serious, fundamental changes to how things are set up in our society. |
There probably won't be any serious, fundamental changes. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sun Aug 11, 2013 7:59 am Post subject: |
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There probably won't be any serious, fundamental changes. |
I tend to agree. We'll likely just see more can-kicking and rights-stealing as the situation gradually deteriorates.
Anyway, it's beautiful weather today here in Boston (and probably DC too, for all the khaki-wearing douchebags). |
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Kuros
Joined: 27 Apr 2004
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| Posted: Sun Aug 11, 2013 8:03 am Post subject: |
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| Titus wrote: |
| Kuros wrote: |
| Black communities were reverse red-lined. Mortgage brokers came to their door, sold them 80/20 ARMs, told them they'd be fine if they refinanced.. |
On the one hand you seem to want them treated equally, as if they're actually equal, and then on the other hand you speak of them as if they have zero agency. Which is it? Either blacks are intelligent enough to look over a mortgage application or their agency in the economy/society needs to be limited. |
Most African-Americans are not sophisticated lenders, and in that respect they are similarly situated to the vast majority of White-Americans (Anglo or Hispanic). But while many Blacks had mortgage brokers come to their door and make various misrepresentations and self-interested assurances, very few Whites had this experience.
You know how this worked. In 2005, a mortgage broker would work on commission and would get paid a percentage of funds loaned, or a flat fee per loan. Neither brokers nor originator institutions cared about whether the loan was sound. Under securitization, they were just originators. The toxic assets flowed into an asset-backed security, and back at Wall Street, rating-agencies rubber-stamped these nasty investments, Goldman et al. disguised their unworthiness with words like "tranches," then positioned themselves as counter-parties to American municipal pensions or German or Chinese investors. At the time, normal Americans, black, white, hispanic, were all equal in the sense that they had no clue.
Many of these Blacks knew they had bad credit and stayed away from banks because of it. So the mortgage brokers came to them, and targeted the very same neighborhoods banks had red-lined for blanket refusals 40-50 years earlier. No lawyer was present, because the brokers told them they did not need one. Its caveat emptor in the market, not on your doorstep.
This is just one example. We should place the blame of unfair and deceptive practices on the practitioners, not on those who sank under their onerous financial obligations. We should place the systemic failures on the architects of the broken system, not on those who trusted that the system worked. The defaulted debtors are suffering, by the way, its not as if they got away with anything. More than anyone else, those debtors who paid down those abusive 80/20 ARMs suffer the most. Their communities are no longer worthwhile because of all the foreclosures, in addition to all the other factors which keep Black-dominant communities low in value. They cannot sell enough to pay off their mortgages. They cannot leave. They will never be able to leave. Their mobility is zero.
| Quote: |
| The economy is a giant scam perpetrated by the intelligent against the dumb. The top and the bottom need to be severely limited in their actions. |
Who are the dumb? Laymen tend to be unsophisticated in the specifics of areas outside their practice. From high school, society specializes us and puts us into corners. Time is a limited commodity in life, and even a generalized educational system would mean that we were dumb in some respects. Its impossible to master every aspect involving a home, from financing to maintenance to final sale. So we need to cooperate with each other. Society of such sophistication necessitates cooperation. Indeed, it is dependent upon it.
So I would blame the so-called 'intelligent.' But they are more than intelligent. They are ambitious, they are uncaring, they are nepotistic, and they are more often than not, corrupt. They are the elites. |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Sun Aug 11, 2013 8:18 am Post subject: |
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| I'm with Kuros on this one. |
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