George Bush Helped Liberals Push Minority Subprime Loans
by Charles Coughlin
The subprime crisis, which is currently threatening to destroy much of our economy, began with a liberal desire to increase the number of minority home owners. Frankly, this effort was pretty much doomed from the start. For one thing, home ownership among White people has been declining ever since the 1960s. Home ownership among Whites was 90 percent in the ’60s when there was a lot more available real estate and a lot fewer people in the US.
From the 1970s onward, White people have fled neighborhoods which had increasing Black populations. Two-thirds of young Black men are either in jail or on parole often for violent crimes. Many White people fled to the suburbs creating ever-longer commutes to work. During this time, many working class Whites began to lose their homes. They could afford to rent in the White parts of town, but they couldn’t afford to buy a new home in the suburbs. The suburban homes increased substantially in price because they had the advantage of not having garden variety Negroes shambling around looking for things to steal and White people to attack. Rich people were PAYING for the privilege of living in a segregated community –something which previously had been possible for Whites people of all classes –until liberals demanded that segregation be outlawed.
It’s bad enough the Democrats do everything possible to harm White people, giving our jobs to quota-hires and stealing our money through excessive taxation. Unfortunately, many Republicans wind up pushing the very same liberal programs that the liberals introduce. The Republicans have done extremely little to end racial quotas even though White people, who make up the backbone of the Republican party are the biggest victims of “reverse discrimination.”
Similarly, the liberals introduced the idea that there should be more minority home-owners. Did the Republicans stand in the way of these lunatic liberal programs to give high-risk loans to Blacks and Latinos? A few Republicans did, but George W. Bush hopped on the liberal bandwagon and vowed to greatly increase the number of minority home-owners.
In a 2002 speech, George W. Bush announced “I set an ambitious goal. It’s one that I believe we can achieve. It’s a clear goal, that by the end of this decade we’ll increase the number of minority homeowners by at least 5.5 million families.”
Despite this blatant pandering to minorities, over 90 percent of Blacks voted against Bush. This is like some sort of mental illness that afflicts Republicans at the top level of our government. Despite the fact that Blacks overwhelmingly support the Democrats and despite the fact that a majority of Latino voters also support the Democrats, Republicans like George Bush, John McCain and Trent Lott are notorious liberals, who seek to give an endless amount of taxpayer dollars to these minorities and who support the idea of an Amnesty for the 20 million illegal alien Latinos, who are in the US today.
If George Bush focused his efforts on paying back the people who voted for him, we could have gotten rid of racial quotas and federal regulators would never have pressured banks and mortgage lenders to increase the number of minority subprime loans. Today, we are looking at a disaster that easily could cost anywhere from one to several trillion dollars. Everytime a subprime loan went bad, a substantial loss typically ranging from $100,000 to $300,000 resulted. If Bush’s goal of increasing minority home owners by 5.5 million came true, that could amount to $1.5 trillion in losses to the financial community.