Mike Bloomberg once blamed banks making loans to black Americans as the cause of the 2008 financial

Mikes past statements are catching up with him. First he defended stop and frisk for blacks and now a statement comes out where he blamed blacks for the Great Recession. No way in hell can a democrat win without the black vote and no way in hell will blacks vote for Mike as his racist comments are uncovered.

• In newly resurfaced comments from September 2008, Bloomberg said the end of "redlining" put pressure on banks to make riskier loans for homeowners of color.

"Redlining refers to a historical government-backed practicedesigned to segregate black Americans into separate neighborhoods and bar them from access to home loans."

https://markets.businessinsider.com...ncial-crash-banks-candidate-2020-2-1028903643

 

Black people want to win, and I suspect they'll vote for whoever has the best chance of winning, regardless of how personally racist he may be (and I'm not saying that Bloomberg is racist; merely that it's a non factor).

 

Yup. And, it probably won't cost him one vote.

It is ancient history. 2008.

Now, speaking of 2019:

Trump Wants to Make Red-lining Easier

https://progressive.org/op-eds/trump-wants-to-make-red-lining-easier-Kristipati-190510/

^So, there's that.

 

And Dirty Donald and his father, when they were building low cost government housing, used to mark the applications of black applicants so they knew who not to accept.

 

So requiring LESS Racial information helps banks deny people due to... race?

Is that a humor site?

But they maintain that the disparity can be explained by factors the industry has fought to keep hidden, including the prospective borrowers’ credit history and overall debt-to-income ratio.

Yes anyone lending you money is going to take account your past....

RACISM!

 

The criminal behavior in the finance sector set up the crash.

The Obama admin let the crooks go free . A first.

Yet the right thinks he is a commie . lol

He was a wall street president and of the oligarchy. A fraud for the rich .

So stupid calling him a commie .

 

These kind of stories can suppress turnout of black voters. I think many didn’t like hillarys old comments about super predators and never got very invested in her campaign.

 

Not surprised by this, Bloomberg is the Dems modern version of Bull Conner.

 

Did you even read the article?
“That pattern remained even after controlling for factors like household income and the amount of the loan in relation to that income.”
“The proposed updates would exempt some lenders, such as smaller banks and credit unions, from having to report at all”
“The bureau says it will close a web portal that has allowed easy public access to this information”

It doesn’t mean the loan originations will not collect the data, it just means they don’t have to report it — burying inconsistencies

 

Sigh yes by quoting the article i did not read it.. Genius of you.

Income to loan amount is not the same as income to debt

You are welcome..

 

He was only a dirty child back then.

 

Bloomberg was getting screamed at yesterday while speaking to minority contractors.

He goes on to roll his eyes at the black people yelling at him.

 

Direct quote verses op ed.

 

It just seems like Bloomberg is not to keen on our Black brothers and sisters. If I were a Leftists and I were consistent, I would call him a racist.

 

He is taking a page right out of Kamala Harris, get a tough question and she would respond, "I think we have to have a discussion about that" and not answer the question, so Bloomy just will say "I'll talk to you later about that" off camera of course.

 

Indeed. He's not ready for prime time.

 

The vast majority of black voters voted for her.

 

Uh-oh. Obama's not going to be happy about that. The ANSWERnik in Chief was a crusader against redlining when he was a young community organizer. Nanny State Mike may have just kissed his endorsement goodbye.

While Bloomberg may have a flawed point, one has to ask whose bright idea was it to force banks to make subprime loans to not only Blacks but low income Whites as well?

Democrats, like Nanny State Mike.

So it is unfair to single out Blacks and even poor people in general for popping Mr. Housing Bubble.

During the 2000s I lived in a predominantly Black inner city area that was being gentrified and there were tons of stupid middle class Whites who paying way too much for renovated/flipped houses and wound up defaulting on their ridiculously over-priced homes. It was literally INSANE. The market was over-heated way beyond reason and you had to be a fool to buy then. My wife and I were in the market for a home during that time and we decided to wait till things cooled off and then *CRASH!!!*. We wound up buying a house after the Crash on a nice spread of land for dirt cheap and locked in a fixed-rate mortgage when interest rates bottomed out. Our bankers still marvel at how low the interest on our mortgage is.

While every foolish and irresponsible borrower deserves a share of the blame it was activists around the country and politicians in Washington who enabled all of that to happen in the first place.

#BloombergIsRacist

 

Rarer than a yellow, male cardinal, lighting upon bigfoot's shoulder.

 

How do blacks win by Trump losing?

 

They're on Team Democrat. That's their party.

 

Man, this guy just doesn't like black folks, until he needs their votes. He must be a Democrat.

 

This thread makes it clear that Bloomberg scares the hell out of trumpers. Good to know.

And he should. He's richer than trump by about two orders of magnitude. He's smarter than trump. And most of all, he knows how to hurt trump; he has known trump for a long time.

 

Look at you, using one of the most liberal leaning bias sources in the whole world after chastising others for using bias sources.



Hypocrisy is so unbecoming..

 

They are on team black and are somehow convinced democrats have their backs but statements like this will at minimum make them stay home and possibly release them from their chains and allow them to vote for Trump under who's leadership they have prospered.