NAACP says bank giants steered blacks to bad loans

There are 372 comments on the Marin Independent Journal story from Mar 13, 2009, titled NAACP says bank giants steered blacks to bad loans. In it, Marin Independent Journal reports that:

The NAACP is accusing Wells Fargo and HSBC of forcing blacks into subprime mortgages while whites with identical qualifications got lower rates.

Join the discussion below, or Read more at Marin Independent Journal.

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Purity

Novato, CA

#1 Mar 13, 2009
Clearly, the global elite, including the federal reserve bank (privately held/non-governmental organization) and the banking system have an agenda. Read "Web of Debt" by Ellen Hodges Brown, JD.

We are ALL victims of the schemes of the global elite, to bring all of us to serfdom, not just black people.

Welcome to the Land of Oz.

“Registered & Dangerous”

Since: Jan 09

Milford, CT

#6 Mar 13, 2009
But they didn't steer white people toward bad loans?

HELLOOOOOOOOOO THE WHOLE COUNTRY IS IN THIS SITUATION!
NigcaPlease

El Paso, TX

#10 Mar 13, 2009
Come on already. Enough with the race card tactics.
Mike

Gettysburg, PA

#13 Mar 13, 2009
The reason for the higher rate on the other property is because she wasn't living in it and it would be an investment property. Financial institutions normally charge higher rates for these loans. A person is more likely to default on a rental property, than the house they live in, if something happens.

Since: Aug 08

Hanover, Pa

#14 Mar 13, 2009
Has anyone else noticed that we live in a time when the only person at fault is someone else?
TSM

El Paso, TX

#15 Mar 13, 2009
African American are you as stupid as the NAACP indicates you are.
I personally would be outraged! You would think that the African Americans were the only ones impacted by this home mortgage crisis not so. If there’s predators there lurking inside the black community

“T-Warrior”

Since: Dec 07

El Paso Tx (Rochester NY)

#16 Mar 13, 2009
Talk to ACORN and like organizations for sueing banks to force them make those loans to African Americans.
chance

Budd Lake, NJ

#19 Mar 13, 2009
Well as far as I can see there were many dumb people. If my eyes and ears serve me right, people of all races are losing their homes. Bad loans were given to white people too. The NAACP more than likely needs something to do , maybe they have to meet a quota for public issues.
The Lovely Sophie

Santa Cruz, CA

#20 Mar 13, 2009
TimeforChange23 wrote:
Has anyone else noticed that we live in a time when the only person at fault is someone else?
Oh, yes and it is getting old real, real fast!

No one forced black folks or anyone one else to sign on the dotted line.

We got an awful loan a few years back and worked our tail ends off to get rid of it! OK, we said. We signed the papers, no one put a gun to our heads and we paid the price. Lesson learned, lesson gained.
Garganchuan

Los Angeles, CA

#21 Mar 13, 2009
unbelievable people! can I get an amen!
what do u think

Sunnyvale, CA

#23 Mar 13, 2009
gimme a break! here we go--cry, cry, yell, yell, act mad, act hurt, act offended, play the victim and hope idiots will feel sorry for you! not me!
Come on

Greenwich, CT

#31 Mar 13, 2009
How many people on here want to bet that white people got duped by unscrupulous lenders at least 10 to 1 over black people? Who's gonna cry for me - Argentina? The NAACP needs a reality check.
nosferatu

Willow Street, PA

#33 Mar 17, 2009
Man, these people ALWAYS want to blame someone else. Amazing.
Ben Dover

Camp Hill, PA

#34 Mar 17, 2009
I know a guy that knows a guy that went to school with this guy that has a black friend. His black friend said he wasn't steered to a bad loan.
Murray

Lubbock, TX

#35 Mar 17, 2009
"I was blown away," said Weaver, an NAACP member. "I didn't have any choice (but to sign).... It made me feel violated"

Waaah!! They made me sign. BS. She could have walked away from the closing at any time. The resason in this case the rate went to 11% was she was adding $40k to her outstanding liabilities without a corresponding increase in debt service capacity.
Boby M

Las Vegas, NV

#37 Mar 17, 2009
NAACP is factually and completely wrong and they know it! This is a typical choreographed diversionary allegation report! This is typical AP main stream reporting which omits the information to full fill their leftist agenda of mis-information! The black caucus with assistance of several high ranking white Congresspersons including almost exclusively Democrats (B. Frank, C. Rangel, C. Dodd, C. Schumer, M. Waters) with the assistance of former CEO's of Fannie Mae (Raines and Johnson, both black) were the lead proponents of forcing Fannie Mae and Freddie Mac and numerous private financial entities top make sub-prime mortgage loans to unqualified minorities to obtain homes they simply had no ability to purchase under the guise of providing affordable housing to minorities for Democrat votes! A certain Black minority based group specifically, ACORN, played a major part in this fiasco in their actions of protesting in front of the financial institutions and their CEO residents in their pursuit to force the intuitions to make the high risk sub-prime loans to minorities! The mainstream press and NAACP simply figures you have forgotten who, how, and why the majority of the financial melt down was precipitated on this scam!
tin lizzie

San Antonio, TX

#38 Mar 17, 2009
nosferatu wrote:
Man, these people ALWAYS want to blame someone else. Amazing.
it has been almost 150 YEARS since brother fought brother to set these people free. and they were brought here by other countries and sold.. all this time and they are still crying race. time to do for themselves instead of casting blame and being cry babies.
earn all you want like any responsible person does.
grow up.
jason

Shippensburg, PA

#39 Mar 17, 2009
I REALLY AM FED UP WITH THIS NAACP. WHAT WOULD HAPPEN IF I STARTED THE WHITE PERSONS TV CHANNEL. ALL PEOPLE NOT JUST BLACKS ARE GETTING RIPPED OFF.I LOST OVER 50 THOUSAND AND A HOUSE SALE.YOU JUST HAVE TO SUCK IT UP AND MOVE ON. IS IT RIGHT??HELL NO,BUT THE LITTLE GUY ALWAYS GETS THE SHAFT.
nosferatu

Willow Street, PA

#40 Mar 17, 2009
Common Sense wrote:
<quoted text>
Exactly. Obama blamed Bush for everything, but everyone forgets he had the power to change things too. He was in Congress. Why wasn't he warning everyone about the housing collapse or introducing legislation to prevent it?
Oh -- that's right -- he was too busy campaigning. Something he WASN'T elected to do.
G*d, give it a rest. Bush took away our rights, Obama is taking away our money. It's all a plot to keep us working for them. The only thing any of them will understand is violent revolution. Where IS Bill Ayers when you need him?
nosferatu

Willow Street, PA

#41 Mar 17, 2009
Boby M wrote:
NAACP is factually and completely wrong and they know it! This is a typical choreographed diversionary allegation report! This is typical AP main stream reporting which omits the information to full fill their leftist agenda of mis-information! The black caucus with assistance of several high ranking white Congresspersons including almost exclusively Democrats (B. Frank, C. Rangel, C. Dodd, C. Schumer, M. Waters) with the assistance of former CEO's of Fannie Mae (Raines and Johnson, both black) were the lead proponents of forcing Fannie Mae and Freddie Mac and numerous private financial entities top make sub-prime mortgage loans to unqualified minorities to obtain homes they simply had no ability to purchase under the guise of providing affordable housing to minorities for Democrat votes! A certain Black minority based group specifically, ACORN, played a major part in this fiasco in their actions of protesting in front of the financial institutions and their CEO residents in their pursuit to force the intuitions to make the high risk sub-prime loans to minorities! The mainstream press and NAACP simply figures you have forgotten who, how, and why the majority of the financial melt down was precipitated on this scam!
"This is typical AP main stream reporting which omits the information to full fill their leftist agenda of mis-information!"

HAHAHAHA, how naive are you? It's only a leftist thing, eh? Sucker.

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