Monday, April 9, 2007

Blacks, Latinos Deserve Forgiveness for Signing Sub-Prime Loans

Mr. Wade Henderson, President of the Leadership Council On Civil Rights and Ms. Janet Murguia of the National Council of La Razza want loan forgiveness and special conditions for blacks and latinos in America who signed sub-prime loan agreements of their own free will.

Apparently, these loans were designed by greedy lenders and pumped by unscrupulous real estate agents to dupe, hoodwink and otherwise fool black and latino Americans into buying more home than they could really afford, thus causing the mass of foreclosures in American communities.

So, if you are an American taxpayer this means that we are all supposed to pony up the federal extortion bar and compensate ethnic minorities for being financial imbeciles!

This is almost too ludicrous for words.First of all, it might surprise black and latino Americans, who's eyes were too big for their financial stomachs when they went into debt to acquire those homes, to know that they find themselves in good company. Thousands of white Americans also signed on the sub-prime dotted line too. So where's the love for your equally stupid white American brother?

This compensation movement really insults the intelligence of every single ethic minority in this country.

It also suggests that it's ok to be a moron.

I'd much more prefer that We, the People, i.e. All Americans, take full responsibility for our actions for a change - even for the titanically stupid mistakes that cause us to lose our homes, sell our possessions and declare personal bankruptcy.

The answer is simple, Mr. Henderson and Ms. Murguia:
No, the Gub'ment ain't bailing you out, because Gub'ment is you!

You signed the mortgage. You took responsibility. There are no do overs. You break it. You bought it.

The sooner we stop acting like overgrown children, the better.

Now back to our regularly scheduled program of Americans who know how to live within their financial means.


Anonymous said...

Bravo. The problem (this time) is that mortgage loans are secured by collateral, ie the real estate. If you don't pay, your house is repo'd. These "subprime" customers have spent a lifetime of borrowing money and then not repaying. So naturally they expected they could do it again. Well, what a surprise it must be to have consequences...

IrvineRenter said...

Is that for real? I would go off on a rant at this point, but you did it well in your post, so I won't bother. Maybe David Duke will go to Washington to lobby for a bail out for white people?