Great news story today that dropped on us like a sack of anvils. Apparrently the NAACP is suing big lending corporations for giving subprime loans to African-Americans. This is another darned if you do and darned if you don't moment.
The
article says that Blacks were forced into sub-prime loans while white people were practically given their homes.
Ah yes. I remember when I was given my home. As a white person - I was given a home with a -5% interest rate and on top of that - The house was made cheaper so I could afford it.
REALLY!!?!?!?!??! I didn't know that credit bureaus were keeping your race on file. Oh well.
What this really boils down to is that now that foreclosures are at an all time high, the NAACP wants a piece of that sweet, sweet bail-out money that the banks have. Never mind that back in 1999 - the NAACP partnered with Fannie Mae to make sure that all these African-Americans who couldn't afford a home got one. (
source) Now that they all got one - it's criminal.
You know. I get really tired of the hyprocricy. It's all about keeping in favor with your base and somehow these groups like the NAACP, ACLU, CONGRESS, POTUS - all seem to think that if they keep turning into the wind we will all forget that 5 minutes ago they were facing the other direction.