Mortgage Meltdown / Mortgage Crisis

Just an observation that irks me on a regular basis. Why is it that whenever the mainstream media does a story about the mortgage crisis and sub-prime borrowers, almost without exception they show the images of and profile low income borrowers who are black or ethnic?

Why isn’t CNN, CNBC, ABC, or any of the other networks profiling the brokers who misled borrowers and got rich doing it or the large number of whites and upper income individuals who were also obtaining loans beyond their means? Afterall, the liar loans were prevelant at every level of society. Take a look at the number of million dollar plus homes in southern California which were financed during the real estate boom and are now foreclosed upon. Let’s be real. All of this talk about bad loans should not be limited to those who are typically targeted by the media as scapegoats. People were in over their heads at every level of society.

If we are going to bail out the mortgage bankers and others who were actually supposed to be highly educated experts, then we should be willing to assist some (not all) homeowners who are in distress. Mark my words, the Feds would not be able to justify saving Countrywide Home Loans as a stand alone entity, but not to worry. Bank of America could not have made a worse investment, as it appears on the surface, anyway. Bank of America came to the aid of Countrywide and Bank of America will now be so saddled with bad debt that they will, as a bank, be able to run to the Feds for assistance. Of course, the feds will justify their propping up of yet another bank by saying that it is in the best interest of the economy. Of course, bush can think it critical enough that they fed rescue bear stearns but he refuses to characterize this economy as being in a recession. forget the clinical sense and semantics of the argument.

when will those “blue collar, middle Americans who vote their race and not their economic interests wake up? bush and the right wing conservative republicans are fucking you in the ass with no lube!

If CNN and Wants to Get Petty, Yeah, Race Trumps Gender!

i will support obama over hillary. she is white first and does not serve as a role model to either my son or my daughter. obama in the white house will lift our nation and move it forward in a way that has not happened since the 60’s. hillary is simply more of the same. not to mention, it is not in the nature of bill clinton to be the first man and not greatly influence the decisions of his wife.

the bottom line is that rational, thinking human beings, to the same degree that everyone else is. the difference is that we have NEVER had the opportunity to support an African American candidate who is equally respected and supported by non-blacks. let’s be real. until the media asks every white voter whether they will vote their race or be willing to support a jew, or wasp, then this conversation should end now. the media is guilty of feeding into the senseless conversation being put forth by the clinton machine. i am embarrassed for the former president and appalled, but not surprised.

why in the world is this being tolerated by the executive decision makers at what used to be a respectable news organization. ted turner must be cringing now. is this really news or just entertainment tonight sensationalism delivered by suited anchors with gray hair?

so let me get this straight, we are entering a severe recession, our sitting president wants to start WWIII before he leaves office, our national infrastructure is crumbling, millions of americans cannnot afford health insurance or prescription drugs, our prisons are overflowing, the wave of foreclosures before us is likely to be the single greatest economic disaster in history, we still have not addressed the destruction of hurricane katrina, millions of young men are in prison, the high school graduation rate of our country’s young people is dropping every year, and illegal aliens from mexico and elsewhere in south america are draining our country of every natural and man made resource, and the most pressing issues that came out of last night’s presidential debate is whether black people will vote for obama because he is black, whether former president bill clinton was really the FIRST black president, and whether obama praised ronald reagan.

in the end, i think that we are all in agreement that politicians win votes based upon affinity. obama is certainly a black man but he is a candidate first and has never put forth his race as part of his “qualifications” for the presidency of the united states. unlike hilary who is actively courting the female vote and maccain