So, I must conclude that all those loans that that were made on overvalued houses, without credit checks, without even verifying if applicants were gainfully employed, were made to blacks almost exclusively. At least, this is what your post implies. Carter and then Clinton,(Obama represented 220 people - and you blame the bubble on him!) And those blacks, representing 13% of the total US population, ALL defaulted and caused the crash. That's it?<quoted text>
No, the target of the housing was in urban areas that had been Red Lined! Mostly in minority areas. When Bill Clinton entered the White House he, and the Democrat controlled Congress, pushed through legislation that made it very easy for MINORITIES to sue banks based on the color of their skin.
Lawyers like Barack H. Obama represented these individuals and the banks, who knew they would lose, settled out of court. Obama represented 220 of these minority home loan applicants and as of 2008 only 18 were still in their homes. The rest having been foreclosed upon or sold short.
But meanwhile many of these solded their inflated value homes and moved to the burbs. And many in the burbs sold their inflated homes and moved to places like Florida. And that caused the Housing Bubble fo 2004-2006 which, like all bubbles, burst and the rest is history!
As a Typical Libtard who have A.D.D. and can't seem to blame either Carter or Clinton which caused the Housing Bubble. I also blame the Country Club RINO who had to opportunity to put the brakes on but turned a blind eye to the problem.
If you want a house, first save up 20% of the value of the home you want to buy!!! Sure, that is the Conservative way but the Conservative way did not cause the bubble nor cause it to bust!!!
Rogue, easier lending practices were instituted to give less favoured folks a break. Banks, mortgage institutions, brokers, broke the rules, cheated. How is that the fault of those who passed those laws?