Some of these cats have an idealized view of white folks. It shows that they have bought in to the inferiority complex.
US subprime lenders targeted blacks, poor:
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Some of these cats have an idealized view of white folks. It shows that they have bought in to the inferiority complex.
It's not all their fault. They fail to realize they are comparing a population of 15-20 million with a population of 250+ million.
And a media conspiracy to downplay pathology among whites. When is the last time you saw gutter white trash on The First 48, on COPS, on Jerry Springer?
Usually a black face just gets better ratings, flat out. Which perpetuates the cycle of misinformation / misrepresentation.
Back to the population point. There is a lot of fiscal ignorance among black folks, no way around it. But thats universal among low-income folks.
You might see the 25 million or so (10% minority of) fiscally responsible white folks that control the system, vs the 8-15 million (85% majority of) fiscally irresponsible black folk, and draw conclusions about all whites vs all blacks, and how their wealth-building must be the standard across the board.
Understandable but flawed logic. In a nutshell, white folks hide their flaws better than we do.
Damn. This is exactly how the cycle plays itself out. Sometimes, it doesn't pay to run in social circles, because they can make you want more than you can afford.
I'm talking about my EXPERIENCES yours could be different. I don't know every single black or white person in the country.
I agree.
Side note. There are over 40 million black people in this country. We're growing strong brother. Stay up.
Again you have to understand white folks do everything they can to hide their flaws. Some of that could be true of the ones you know even, except they just fake it till they make it.
One constant criticism you hear about black folks is how "loud and showy" we are. All that means is we tend to let it all hang out, good or bad. We floss our strengths and air out our weaknesses.
That's bizarre to most white folks, but enviable to them too in a weird way.
"Me? I'm HONEST. Even when I lie." -Tony Montana.
I can agree with you on that.
But it is that desire to be CONSPICUOUS Consumers........that gets us as a people.
Bro, it's part of the American culture.........
The economy is in a mess. What do you here them talking about???? Consumer spending.
It's what drives this economy..............forget the color!!!
YADA YADA YADA YALL NIGGAZ KILL ME WITH THIS SHIT. THE SUBPRIME LENDERS DID NOT TARGET NIGGAZ...NIGGAZ TARGETED THEM. THIS IS MY BUSINESS SO I KNOW. SHIT WOULD HAVE BEEN COOL IF NIGGAZ WERE NOT CASHING OUT ON THESE PROPERTIES. INFLATED APPRAISALS KILLED THE ENTIRE INDUSTRY.
MORTGAGE FRAUD IS THE NIGGA NEW HUSTLE, AND DEFRAUDING THE BANKS WITH FAKE DOCUMENTATION IS WHAT CREATED THIS MESS. MAJORITY OF ALL FORCLOSURES WILL BE PEOPLE OF COLOR BECAUSE NIGGAZ ARE STUPID AND LACK KNOWLEDGE. NIGGAZ WILL CASHOUT 80-100K AND GO BUY A BENZ WITH THAT SHIT AND THEN SPEND 10K ON THE RIMS. THE PAYMENT ON THE MORTGAGE IS SKY HIGH AND THERE IS NO WAY A RENTER CAN COVER THAT SHIT.
AND DON'T GET ME STARTED ON THE NIGGAZ WHO PUT 8 PROPERTIES IN THEIR NAME AND ALL WERE FINANCED "OWNER OCCUPIED" ... NIGGAZ DESTROYED THE MARKET PLAIN AND SIMPLE.
Damn dog, you CONSISTENTLY have proven yourself to not only be overbearing, but dumb as dirt too (the two usually do go hand in hand though).
Sub-prime lenders were cold calling old folks with paid off homes and lower middle class minorities. They literally drew lines on maps and did RESEARCH to assure they only targeted minorities and the elderly. They hired black "mortgage brokers" with damn near NO training and paid them huge bonuses to sell as many subprime loans as possible. They ENCOURAGED these mortgage brokers to say whatever they needed to say to get the loans sold (including LIE). That's why white families weren't hit as hard, they weren't getting calls and mail, THEY WEREN'T TARGETTED. These mufukkas were sending checks, LIVE CHECKS to people UNSOLICITED for the appraised equity in their homes and if you filled out the paperwork and cashed the check, you agreed to the terms. Some of the most CORRUPT and UNSAVORY business practices ever were tied to subprime lenders. They lied to people, over appraised homes, bribed inspectors, told people property tax was included in their notes when it was not, the shit was a free-for-all of corruption.
But I wouldn't expect a simple minded, talking out of turn, loudmouth, ignorant simp like yourself to know shit about what REALLY went down.
Niggaz do know how to read don't they??
Pookie knew what he was getting into
No one to blame but themselves for caring how others see them.
I have no sympathy for these dumb fucks.
My post was originally on Mortgage Fraud... I guess the sub prime lenders gassed niggaz heads up for that too???
So do yourself a favor and stop blaming the white man for this shit...if niggaz are stupid, then hell "NIGGAZ ARE STUPID"
last but not least..Get a fuckin clue and understand that niggaz keep niggaz down more then the white man
BALL NIGGA!
I don't know why, but every black person I know assumes every white person they see driving a $100K car, or a Harley, or out on the lake in a boat "Worked hard for it". Like they paid cash for all that shit. The white folks I lived around were cashing in their house equity to buy 1967 Chevelles, custom Jesse James style choppers, cigarette boats, boob jobs, nose jobs, hot tubs, and all kinds of other ridiculous shit. All the shit was on BORROWED MONEY and 99% of them couldn't afford ANY of it.
The problem is not that black folks floss, it's that when you see a black man in a Benz, he either sold dope or can't afford it, when you see a white man in a Benz, you assume he bought the damn thing cash. I used to work with white folks who I KNEW made less money than I did going out buying BMW M3's and Porsche Boxsters like they were having a fire sale on the damn things. Brotha making the same money they make goes out and buys a 300C with some rims on it and gets talked about like he ain't shit.
Cracka I worked with that made $100K was HELICOPTER shopping, but his wife shut his dumb ass down.
The problem is SELF IMAGE dog.
I don't know why, but every black person I know assumes every white person they see driving a $100K car, or a Harley, or out on the lake in a boat "Worked hard for it". Like they paid cash for all that shit. The white folks I lived around were cashing in their house equity to buy 1967 Chevelles, custom Jesse James style choppers, cigarette boats, boob jobs, nose jobs, hot tubs, and all kinds of other ridiculous shit. All the shit was on BORROWED MONEY and 99% of them couldn't afford ANY of it.
The problem is not that black folks floss, it's that when you see a black man in a Benz, he either sold dope or can't afford it, when you see a white man in a Benz, you assume he bought the damn thing cash. I used to work with white folks who I KNEW made less money than I did going out buying BMW M3's and Porsche Boxsters like they were having a fire sale on the damn things. Brotha making the same money they make goes out and buys a 300C with some rims on it and gets talked about like he ain't shit.
The problem is SELF IMAGE dog.
BALL NIGGA!
YOU NIGGAZ DO KNOW THAT THE FORCLOSURE RATE WAS SKY HIGH BEFORE THIS MORTGAGE MELTDOWN STARTED RIGHT??
AND YOU NIGGAZ DO KNOW THAT MAJORITY OF THE FORCLOSURES WERE DUE TO FRAUD RIGHT??
1ST PAYMENT DEFAULTS LIKE A MUTHAFUCKA RIGHT???
MOST OF THIS FRAUD HAPPEND IN THE BLACK COMMUNITY ALSO RIGHT??
SO WHAT DOES THAT TELL YOU???
BALL NIGGA!
AND YOU NIGGAZ DO KNOW THAT MAJORITY OF THE FORCLOSURES WERE DUE TO FRAUD RIGHT??
1ST PAYMENT DEFAULTS LIKE A MUTHAFUCKA RIGHT???
MOST OF THIS FRAUD HAPPEND IN THE BLACK COMMUNITY ALSO RIGHT??
SO WHAT DOES THAT TELL YOU???
BALL NIGGA!
I get what you are saying..........point well made.
But you are living under the assumption that the WORLD IS FAIR. The white folks can go overextend themselves..and rebound EASIER.
The rules aren't the same for NIGGAS. Pookie overextends himself....and files for bankruptcy. When Pookie applys for that next corporate job and the CHECK HIS CREDIT.....he aint getting it. The Deck is stacked.
I aint saying don't try.....JUST REALIZE the rules aint fair.....yet work to MAXIMIZE your own playing position.
Niggaz do know how to read don't they??
Pookie knew what he was getting into
No one to blame but themselves for caring how others see them.
I have no sympathy for these dumb fucks.
My post was originally on Mortgage Fraud... I guess the sub prime lenders gassed niggaz heads up for that too???
So do yourself a favor and stop blaming the white man for this shit...if niggaz are stupid, then hell "NIGGAZ ARE STUPID"
last but not least..Get a fuckin clue and understand that niggaz keep niggaz down more then the white man
BALL NIGGA!
See, that proves you are a fuckin' clown because "THE WHITE MAN" didn't do paper on most of those shitty loans, it was ignorant niggas like yourself. Every half-educated negro in the hood was in "the real estate game" before shit fell through. Only reason they even HAD careers was off of sub-prime kickbacks, a legit Realtor wouldn't let those clowns sell parking spots. The people that got fucked over were TARGETTED, plain and simple. A simple minded bitch nigga like yourself living with his momma and talking noise on a message board wouldn't know shit about this conversation.
Bounce Clown, go troll Obama threads and stop showing your lack of intelligence.
Dont know about you Daddy Warbucks, but if I see white folks preying on poorly informed black folks with tricks and scams, I'm certainly not laughing, pointing or posting dancing smileys. WTF, do you take PLEASURE in seeing the black community exploited? What you feel good about yourself for being the Smart Negro Who Escaped?
Damn dude. Look up the word empathy sometime, WTF.
Damn dude. Look up the word empathy sometime, WTF.
that's true too...
every sup lender i know who was getting paid off the fraud was black......
not saying that crackers didn't do it too, cause they invented the shit. we just perfected it....
That's true, white boy may be taking out a loan on his famliy homestead passed down to him by his grandfather where a brotha may be taking out 5 years equity in his only piece of property. Another issue is that the same house will appraise for more simply by being owned by a white person and being in a white community. But don't get it twisted, EVERYBODY thought shit was gravy and EVERYBODY was borrowing to the hilt. If the credit crunch was simply a black issue, do you think it would even be newsworthy to this level? The banks decided to write paper on declared but unverified income. The banks decided to write paper on high credit risk customers. A lot of white folks aren't loosing their homes, but they can't sell them either because they got equity loans and refis based upon fake appraisals and now owe more than their cribs are worth. Cats are shitting on the black victims of this shit and patting the white ones on the back just because of differing loan structures, but the EXACT same fuck job.
I'M HAPPY TO STATE THAT I HAVE BEEN DOING THIS REAL ESTATE THING FOR 8 YEARS NOW AND ITS MY FULLTIME JOB. I'LL BE SURE TO INFORM MY MOMS THAT I'M MOVING IN WITH HER
LISTEN HERE YOU DUMB FUCK LET ME PUT IT TO YOU LIKE THIS...I'M IN MY MID 20'S OWN MY OWN HOUSE. I HAVE A BACK YARD THAT CAN PROBABLY FIT 8 OF YOUR APARTMENTS. I DRIVE A NICE CAR (GERMAN) AND FUCK BAD ASS BITCHES ON THE REGULAR. I'VE BEEN SELF EMPLOYED FOR A LONG TIME AND WILL CONTINUE TO BE.I HAVE NOT WORKED FOR ANYONE SINCE 2000. I GETS MY $$$ ON AND I'M SURE THAT I WILL MAKE MORE $$$ THEN YOU AT THE END OF JANUARY THEN YOU WILL FOR THE ENTIRE 2008 YEAR.
NOW I'M NOT BRAGGING, I'M JUST GIVING FACTS. MIGGAZ ON HERE WHO KNOW ME CAN VOUCHE FOR IT BUT FUCK IT WHO REALLY GIVES A SHIT. SO WORRY ABOUT YOUR CAREER WHILE I DO MY THING WIT MY MULTIPLE BUSINESSES. TIL THEN
BALL NIGGA!
You know crackers did it, because all those stories about 82 year old Ida Schmeckel from Parma loosing her $150K house over a $50K loan were MOST DEFINITELY not written on black paper.
I'M HAPPY TO STATE THAT I HAVE BEEN DOING THIS REAL ESTATE THING FOR 8 YEARS NOW AND ITS MY FULLTIME JOB. I'LL BE SURE TO INFORM MY MOMS THAT I'M MOVING IN WITH HER
I'M IN MY MID 20'S OWN MY OWN HOUSE. I HAVE A BACK YARD THAT CAN PROBABLY FIT 8 OF YOUR APARTMENTS. I DRIVE A NICE CAR (GERMAN) AND FUCK BAD ASS BITCHES ON THE REGULAR. I'VE BEEN SELF EMPLOYED FOR A LONG TIME AND WILL CONTINUE TO BE.I HAVE NOT WORKED FOR ANYONE SINCE 2000. I GETS MY $$$ ON AND I'M SURE THAT I WILL MAKE MORE $$$ THEN YOU AT THE END OF JANUARY THEN YOU WILL FOR THE ENTIRE 2008 YEAR.
NOW I'M NOT BRAGGING, I'M JUST GIVING FACTS. MIGGAZ ON HERE WHO KNOW ME CAN VOUCHE FOR IT BUT FUCK IT WHO REALLY GIVES A SHIT. SO WORRY ABOUT YOUR CAREER WHILE I DO MY THING WIT MY MULTIPLE BUSINESSES. TIL THEN
BALL NIGGA!
Trust dog, your shit ain't impressing MOST cats having this conversation. Your a clown dog, trust me, I can tell more about you from your comments than your description of yourself and YOU ARE A CLOWN, PERIOD. You ain't about shit but this here internet troll game you got locked down. Move along.
Your accomplishments are great, DW. But if at the end of all that you find amusement or pleasure in white folks and their black sellout lackeys setting our collective community back another two or three generations with this kind of financial tricknology bullshit...
I'd rather be broke and have my mind right than be paid and laugh at black folks who are in misery or fucked up in the game. Just cause I'm chillin doesnt make me immune to other people, especially other BLACK people, who aren't. I can't get with that man. That shit just ain't cool.
I'd rather be broke and have my mind right than be paid and laugh at black folks who are in misery or fucked up in the game. Just cause I'm chillin doesnt make me immune to other people, especially other BLACK people, who aren't. I can't get with that man. That shit just ain't cool.
I NEVER KNEW BLACKS OWNED DIRECT LENDING COMPANIES??
Niggas are not being REAL WITH THEMSELVES on here.
Every race does FRAUD. But we as black folks have that "smash and grab" mentality we want it all NOW. The white boys...did their shit on the low... enough to COME UP..but not ENOUGH to draw MAJOR ATTENTION.
Niggas were setting up shops to COOK UP DOCUMENTS.. having straw buyers.. buying CONDO buildings on FRAUD REFI and then let the shits go into Foreclosure on GRAND SCALES. Which is why it is hard as fuck to get a MORTGAGE in certain zipcodes in ATLANTA.
This may be true in some cases, but if the white boys did it THAT much "on the low" it wouldn't be a major financial crisis that is hurting the entire economy.
Right? Niggas would just be a blip on the radar if it was just us wildin out.
Lets not give the white boys undue credit. No pun intended.
I feel you...but I just hate the fact that us BLACK FOLKS LOVE THE VICTIM role.
Have some Black Leaders Tell it.
You would think that the mortgage lenders went to Churches all across the nation and rounded up all the "Good Christian Black Folks".. put them on bus tour of the suburbs. and told them "Look you can get out of the hood...we can put you in one of these Dream Houses.......just sign right here and we can make it a reality Ms. Jones....what closing date would you like the 1st or the 15th?...just leave all the paperwork up to us"
It's not a black or white thing, your boy the clown is trying to make it that, like I said, MOST of the bad paper written on black folks was written BY black folks trying to make a quick buck. Most of the bad paper written on white people was written BY white people. But best believe, if it was just black folks trying to get over that caused a NATIONAL CREDIT CRISIS that is about to put the country into a recession, a few things would be happening that are not happening...
- Somebody would be up UNDER a jail
- The fact that this issue had a black face would be ALL OVER the news
- Sub-prime loans and all of the practices that were done to sell those loans would all be FEDERAL CRIMES
Nothing, New, I read an article on creditors lowering their standards to get minorities to buy shit that they "wanted" but didnt' need, and now they. Hell, I'm financially disciplined, but had no experienced, so I took advantage early and got me a credit card. I'm still getting these Goddamn Offers as if they ran out of white people to offer.
I heard it was called Lenders Gone Wild, LOL
I heard it was called Lenders Gone Wild, LOL
You're right. Fool me once shame on you...
Fool me 4,080 times...I must be your average black american
Writing a detailed post on this would bring Colin out kicking and screaming. So a very condensed version. My apologies if it seems incomplete or disjointed but I did this very fast.
REAL PROPERTY-basic definition, varies from State to state
Land, including the surface, whatever is attached to the surface such as buildings or trees, whatever is beneath the surface, such as minerals, and the area above the surface
WEALTH-definition from Merriam Webster
All property that has a money value or an exchangeable value b: all material objects that have economic utility; especially : the
stock of useful goods having economic value in existence at any one time
Those 2 definitions should serve as a baseline on how I see this playing out.
Lets just take 2008 estimates for foreclosures. From what I've seen Wall Street estimates 1.4 million foreclosures this year with an estimated value of 1.2 trillion dollars.The value of that real property will probably decrease as home values decrease this year also.
Lets say only 50% of those foreclosures actually come to fruition, thats 500 billion dollars worth of real property wealth transfered from a large pool of middle and lower class people to a few super wealthy people. Daddy Warbucks and his crew didn't think up this and in fact got only mere copper pennies and a few trinkets for playing their part.
It's right in front of you everyday in the news:
Bank of America buys CountryWide-----Who do you think owns all that bad paper and what it represents now.
Wall Street Investment houses that invested heavily in sub-prime get large capital infusion from China, Singapore,Kuwait, Saudi Arabia-----Who do you think owns all that paper now and what it represents.
Check this out, a small snippet from Paul Krugmans article in Rolling Stone
http://www.rollingstone.com/politics/story/12699486/paul_krugman_on_the_great_wealth_transfer/print
Rising inequality isn't new. The gap between rich and poor started growing before Ronald Reagan took office, and it continued to widen through the Clinton years. But what is happening under Bush is something entirely unprecedented: For the first time in our history, so much growth is being siphoned off to a small, wealthy minority that most Americans are failing to gain ground even during a time of economic growth -- and they know it.
This sub-prime crises is nothing more htan the continuation of the transfer of wealth thats been going on for a long time.
REAL PROPERTY-basic definition, varies from State to state
Land, including the surface, whatever is attached to the surface such as buildings or trees, whatever is beneath the surface, such as minerals, and the area above the surface
WEALTH-definition from Merriam Webster
All property that has a money value or an exchangeable value b: all material objects that have economic utility; especially : the
stock of useful goods having economic value in existence at any one time
Those 2 definitions should serve as a baseline on how I see this playing out.
Lets just take 2008 estimates for foreclosures. From what I've seen Wall Street estimates 1.4 million foreclosures this year with an estimated value of 1.2 trillion dollars.The value of that real property will probably decrease as home values decrease this year also.
Lets say only 50% of those foreclosures actually come to fruition, thats 500 billion dollars worth of real property wealth transfered from a large pool of middle and lower class people to a few super wealthy people. Daddy Warbucks and his crew didn't think up this and in fact got only mere copper pennies and a few trinkets for playing their part.
It's right in front of you everyday in the news:
Bank of America buys CountryWide-----Who do you think owns all that bad paper and what it represents now.
Wall Street Investment houses that invested heavily in sub-prime get large capital infusion from China, Singapore,Kuwait, Saudi Arabia-----Who do you think owns all that paper now and what it represents.
Check this out, a small snippet from Paul Krugmans article in Rolling Stone
http://www.rollingstone.com/politics/story/12699486/paul_krugman_on_the_great_wealth_transfer/print
Rising inequality isn't new. The gap between rich and poor started growing before Ronald Reagan took office, and it continued to widen through the Clinton years. But what is happening under Bush is something entirely unprecedented: For the first time in our history, so much growth is being siphoned off to a small, wealthy minority that most Americans are failing to gain ground even during a time of economic growth -- and they know it.
This sub-prime crises is nothing more htan the continuation of the transfer of wealth thats been going on for a long time.
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