Comments on: Stop Blaming Poor People For The Meltdown

By: Who Stole All Our Cookies From The Cookie Jar? « Cinie’s World

Who Stole All Our Cookies From The Cookie Jar? « Cinie’s World — Mon, 01 Dec 2008 17:39:40 +0000

[...] one of a series claiming that anybody with access to Home and Garden TV should have seen the housing crisis coming years ago, since the network features a treasure trove of information about home buying, [...]

By: ea

ea — Sun, 28 Sep 2008 15:56:17 +0000

I agree with Cinie.

By: sister of ye

sister of ye — Sun, 28 Sep 2008 04:25:33 +0000

Thank you, Cinie! Even the liberal blogs have been playing this line. When “the poor” got subprime loans, they weren’t buying McMansions, just cheap houses in the same or marginally better areas than where they rented. It’s just not that big a dollar share of the market to sink the economy.

There have been plenty of stories in my local and other papers over the last few years of minorities in particular who had professional incomes, but were pushed into shaky financing vehicles. The lenders simply refused to offer them anything else. If you’re the first in your family to reach the position of affording a home, you often don’t have the background or confidence to push back and tell the lender to take a hike. Besides, if the whole industry is doing it, where else can you go?

Poor people can be as greedy as rich, but they’re always the first to have it catch up with them. It’s akin to the sad fact that if you rob a 7-11 of a few hundred bucks at gunpoint, you’re more likely to see jail time than a CEO who can keep his hands clean of weaponry but rip employees, customers and shareholders off for millions.

By: Cinie

Cinie — Sun, 28 Sep 2008 02:33:59 +0000

Tom, Sugar, the greed of the poor people in my opinion, is classic misdirection. Both parties are tools of corporate America. Look at who both candidates’ economic advisers are, Henry Paulson is from Goldman Sachs’ midwestern division (Chicago) and according to Chicagoans Against Obama, gave him a heads up on the bailout. William Daley sits on the board of JP Morgan Chase and is Mayor Daley’s brother and Obama’s economic adviser. Penny Pritzker, Jamie Dimon and Warren Buffet are too. I’ll blog about all that later tonight, but CRA, ACORN and all the rest of the things being pointed at are just convenient diversions from the truth.

By: SUGAR

SUGAR — Sun, 28 Sep 2008 02:18:56 +0000

At the heart of all of this is G-R-E-E-D–on everybody’s part. Including poor people with big eyes wanting more than they could afford.

By: Tom

Tom — Sun, 28 Sep 2008 01:59:42 +0000

I would not think that blaming poor people is the issue, it is blaming the politicians who think that using bad economics to buy the votes of poor people and reward supporters such as ACORN is the problem.

Just like the Republicans are whores at times to the corporate elite, so are the Democrats to the urban community organizers and the unions. They both sell out the best interests of the country for the sake of political sucking up.

Tom

PS Thanks for the link!