Sep 22, 2008

Turns Out Black People Are At Fault for Financial Meltdown

Who would have known? But, yes, it turns out black people are the problem and the reason taxpayers are bailing out Wall Street.
Neil Cavuto, host of Fox News' Your World, conflated giving home mortgages to minorities with risky lending practices, suggesting that efforts to increase homeownership among minority borrowers contributed to financial problems at Fannie Mae and Freddie Mac.

Discussing the decision by the U.S. Treasury Department and the Federal Housing Finance Agency to place Fannie Mae and Freddie Mac into conservatorship, Cavuto asked Rep. Xavier Becerra (D-CA) on September 18, "[W]hen you and many of your colleagues were pushing for more minority lending and more expanded lending to folks who heretofore couldn't get mortgages, when you were pushing homeownership ... Are you totally without culpability here? Are you totally blameless? Are you totally irresponsible of anything that happened?"

Cavuto later said, "I'm just saying, I don't remember a clarion call that said, 'Fannie and Freddie are a disaster. Loaning to minorities and risky folks is a disaster.'"
Yes, black people are the bad guys. Sometimes they rob you on the street, other times they take out a loan and make your bank die.

Look for Neil's soon to be released book, "Who Let All These Negroes in my Bank?"

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