Man trump had me dyyyyin talking about Bloomberg wanting a box to stand on for the debates
Mike Bloomberg once blamed banks making loans to black Americans as the cause of the 2008 financial crash
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He wasn’t entirely wrong about redlining, which did play a part, but nowhere near being the sole or biggest factor for the meltdown. However, this attempt to shift blame away from Wall Street, onto the average person is comical at best.
You can’t blame a person for being squeezed into an unfavorable position and then give em a choice that mostly benefits you. Its nonsense.
But I didn’t comment for his sake. I only wanted to talk about the economic illiteracy behind this.
At the end of the day, Bloomberg’s just a puppet that’s there to make a little more money from
campaigning, but most importantly, be the fall guy to bolster Sanders into that nomination.
You can’t blame a person for being squeezed into an unfavorable position and then give em a choice that mostly benefits you. Its nonsense.
But I didn’t comment for his sake. I only wanted to talk about the economic illiteracy behind this.
At the end of the day, Bloomberg’s just a puppet that’s there to make a little more money from
campaigning, but most importantly, be the fall guy to bolster Sanders into that nomination.
Actually he was entirely wrong.
1. He framed redlining as a practice of financial based decisions from lending institutions to avoid high risk loans. That isnt what redlining was/is or was intended to do. It was created for the intended practice of segregating blacks and denying them the opportunity to access lending for home purchases solely on the basis of skin color.
2. He then blamed the start of the economic collapse on giving blacks loans they didnt deserve. Another fiction. Bush policies, his war, and lack of wallstreet and bank regulation caused that crisis.
My bad, I misspoke. I was referring to redlining being one of the factors of the collapse. Bottom feeding to the poorest creditors with zero regulation was in fact a thing. Just not the way he’d like it to be.
Bush policies were largely responsible for those bolded quotes brother. He knew he had to inflate the economy to float his war and keep consumer confidence high. He purposely turned a blind eye to wallstreet and bank fuckery saying markets do best when allowed to work (go unchecked). And he encouraged blind lending and the loading up of mortgage backed securities investing by the banksters.
just like Reagan Clinton and Obama - the national gop and dem parties
Bush jr was paid by the banks to let em run wild
and gave a special bonus for bankruptcy reform bill
even if Bush didnt invade Iraq and the economy was pushing late 90s levels of prosperity
the fuckery the banks and ratings agencies pulled would still have caused the exact same crash we saw in 08 ...
and now they back to doing the same shit again
You should go back before Dubya, cause Clinton played the biggest role in repealing Glass-Stegall. Bush came in and finished the job but Clinton’s blatant repeal for deregulation, something most economists at the time frowned upon, was the true genesis of this. Then followed CDO’s, MBS’s and tranches of toxic debt fueled by rocket scientists and the like. That and Alan Greenspan throwing in his $0.02.
Democrats were losing to republicans badly for almost 2 decades because they lacked Big Money Donor Class. Before Bill Clinton the last democrat to win the white house was carter back in 1976.
So in the early 90s democrats got in bed with Wall Street. That’s when the corporate democrats like Bill Clinton was born. They pass all kinds of friendly deregulation policies towards Wall Street.
George Bush was passing Tax Cuts for the Rich, Fighting 2 Middle East wars running trillions in debt which is what accelerated the bubble.
Yup. Bush was the icing on the cake, more or less, but the actual cake itself came around when William Jefferson captivated American hearts from the trickle down policies of good ol Americana boys like Senior Bush and Reagan, who also played their parts.
Regardless of where it all started, it’s safe to say that these corporate shrills are parading around for your entertainment value, nothing more.
Expecting change from these CAC’s is wishful thinking at best.
none of these things caused the crash of 08
and all of the problems created by those things were not addressed during the "recovery"
we haven't gotten that hit yet
I could be wrong because I haven't studied the topic, just casually observed it. I specifically remember being introduced to the 'housing bubble' in 98 during my hustling days. All the cats who tried to get me into that shit ended up getting federal cases years later. So the shit definitely started under Clinton, thrived under Bush, and then went belly up when the ceiling was hit.none of these things caused the crash of 08
and all of the problems created by those things were not addressed during the "recovery"
we haven't gotten that hit yet
What I remember the most under Bush is the crisis thriving because he ignored it. With all his bullshit wars and other fuckery, the public wasn't paying attention either. While the housing crisis was in full swing, Bush was doing state of the unions on fucking steroids in baseball. He was literally fiddling while shit was burning around him -- and the democrats ain't say shit about the fire so folks shouldn't even try to pin this all on Bush.
I know it's heresy on BGOL, but Obama just threw a bandaid and rubbed some peroxide on a gunshot and let the shooters off with a slap on the wrist. A few cats tried to point that shit out with the legislation and were damn near burned on the stake on this forum.
You don't get a housing crisis on partisan politics. It takes bipartisan fuckery to get that type of shit done. And it's hard to talk about the situation when folks huddled in their corners on some crips(democrat) and bloods(republican) shit. Bankers don't care because they the plug for both sides.
This muthafucka is just as bad as Biden....
The DNC is pitiful to allow a rule change for money....sad state of affairs.
He shouldnt even be in the race.
The DNC is pitiful to allow a rule change for money....sad state of affairs.
He shouldnt even be in the race.
That AIN'T all
WAIT - IS THIS FOR REAL?
Yeah, I watched that show last night.....
Shit is crazy.
I dont know what to say about how black people interact with politics....
We are not even playing checkers.,.....we are playing tic-tac-toe.
Mini Mike
Cats are worse than idealistic and naive 3rd graders discussing politics.Have they seen what decades worth of black politicians have done? These coons basically BEGGED cacs for the drug war and prison industrial complex. They oversee some of the worst places to live as a black person(see cleveland, east cleveland, and many other cities). Black caucus has been a joke.
@Watcher *as usual* ignoring the facts and getting hit with a 2 piece.Love to see it.
I really believe in classism and I disagree for the main reason middle class usually don't mess with poor class and upper income blacks usually almost never fuck with lower class blacks.
It's a event in Little Haiti every month that usually brings alot of affluent blacks together, it's in the hood and the dudes from the block try to run up in there and all get kicked out. If what you said was true we'd be in a much better shape but we're not because even though all of us are black, alot of us don't mess with each other life that.
Class trumps race usually, being black isn't going to save the black community if the banks are white or whatever.
I disagree with your statement above. In the higher circles of american society blacks are still shunned in spite of qualifying economically, educationally, and with practical experience. How else can you explain the exclusion of blacks in the most highly regarded social or country clubs? Why do blacks so rarely rise to Sr. executive management; CEO, CFO, COO in publicly traded companies? There was a time when people of irish, italian, and jewish decent, among others, were also overlooked for social advancement and positions of authority. Then they got their white cards punched and many immediately started shitting on darker skin people as inferior and unworthy.
Now laws outlaw most racial discrimination, but I ask you does it still frequently happen?
Exactly!
Redlining doesn't have to do with offering loans to poor people. He talked about redlining in a deliberately misleading way to give bigger blame to the government for their acts. Doomsberg fails to mention that redlining is the practice you highlighted based on RACE - ILLEGAL. Banks & financial institutions literally drew up red lines around areas that they did not want to offer loans to, because of race. We know, because our folks would apply and get denied. All while having the same financial profile as white applicants.
At the heart of the CRA, ECOA, and FHA, is all about fair lending and the banks willingly decided to curb their practices and decades OLD guidance leading and aiding to the economic COLLAPSE. They DID THAT SHIT.
Cmon you are all around the edges of it. Just admit you are a white republicanbut you’re voting for white people so why say less in power is your end game?
I couldn’t care less about trump
he’s unfit and unqualified but he is entertaining and good for telling the truth on serious matters (eg Operation Solar Warden and the International Bankers). You paint him as a racist but his favorite President was so-called black.
no such thing as “lesser of two evils” and if there was that would be the republicans as democrats have screwed over the so-called black community since their inception.
According to you the party who has the most Black politicians by far is the evil party. Republicans who are 99% white and their constituency base are the whites that would still lynch black people if they could get away with it are ok.
uh huh
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What facts would that be. That the white posters like yourself and others constantly shit on Black people while pretending to be Black? Because of a few bad Black politicians we should accept white people always being the majority huh?
Love to see it.
Oh wait, @gene cisco says we should vote for policies not color. Now we trust white people will pass policies for the Black community.
Non of you so called Black people ever put forth real solutions you all just advocate for not voting democrats.
Please point out the city where increased black representation has lead to better lives for all Black people. Because there are actual cities right now with black representation. Some for decades. We don't have to wait for your ultra liberal wet dreams to see the results.
Fool can't do it. I already gave examples of fail to fools and it was crickets. Idiot is color struck instead of worried about policies and results. For example, I don't care what color the person is who finally has the balls to reclassify marijuana on the federal level(one less thing to go after black people for). Black Jesus ain't do it. He called it a gateway drug when petitioned. We don't need anymore black politicians like him.
I'm beginning to think watcher's mentally ill. He's incoherent and makes no sense ever. For example, I been saying for four years that democrats should be talking jobs and health care, not doing the failed Trump attacks. He calls me a republican. Nancy Pelosi finally puts it in a memo last week. It's gospel.
He needs lab coat type help.
You two are a joke. I guess because Trump tells you Black cities are shitholes you believe it. Increase Black representation could never lead to better lives for Black people huh. Once again Gene Cisco answer the question. You complain nothing has changed in 50 years WHAT MAJORITY HAS RAN GOVERNMENT IN THOSE 50 YEARS? Answer clown.Fool can't do it. I already gave examples of fail to fools and it was crickets. Idiot is color struck instead of worried about policies and results. For example, I don't care what color the person is who finally has the balls to reclassify marijuana on the federal level(one less thing to go after black people for). Black Jesus ain't do it. He called it a gateway drug when petitioned. We don't need anymore black politicians like him.
I'm beginning to think watcher's mentally ill. He's incoherent and makes no sense ever. For example, I been saying for four years that democrats should be talking jobs and health care, not doing the failed Trump attacks. He calls me a republican. Nancy Pelosi finally puts it in a memo last week. It's gospel.
He needs lab coat type help.
Name a city? Atlanta.
Before you recite your prejudice bullshit go look at some data.
If only there was proof which one of us is more knowledgable. Oh wait..
BGOL voting poll. I believe this will show how Trump wins the presidency. Currently Trump wins
Say if you are voting for Hillary or Trump. If you are voting for a 3rd party candidate your vote goes in the no vote section. If you are not voting, state if you lean normally to democratic or republican. I'll add the people on my list in we know how they are voting. Correct me if I'm wrong...
www.bgol.us
As a Cook Co(Crook County) IL resident there is lots of fuckery and it has to be addressed honestly. Chicago democratic machine has purged 400,000 black residents from the city since 1980. This ain't prejudice, this is 40 years of failed policy for black Chicago. Black people around here are hot and the finger is not being pointed at Trump. It is being pointed at the white liberals we call them the Green Team, Lakefront Jew Liberals, and The Madigoons. Am I saying conservatives will fix it hells to the no. Black people need to start playing on team black period. I made a post about black P.A.C.'s and it gets avoided like the plague by many.
Exactly. White people are the problem regardless of party. They will never have our best interest in mind when creating policy.
Since you have the data, save us some time and tell us what has improved for black people in ATL under Black representation.
If WE don't wise up and fast - the "Communitah" will be looking like planet KryptonYeah, I watched that show last night.....
Shit is crazy.
I dont know what to say about how black people interact with politics....
We are not even playing checkers.,.....we are playing tic-tac-toe.
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