"Redlining is the unethical practice where financial institutions make it extremely difficult or impossible for residents of poor inner-city neighborhoods to borrow money"
Are minorities less likely to repay their loans? If they are this just seems like a responsible business practice.
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Good thing Obama used the 2010 census to build a secret race map to make sure to rearrange demographics for fairness.
As much as I hate (((banks))), I can understand their point of view. Bottom line, if niggers simply made payments on their loans then banks would be in their neighborhood. You truly think banks wouldn't make money off niggers if they could?
NPR did a story on how the federal government is doing undercover stings on banks. Sending in white and black customers with similar financials just of different race and demographics of the area they wish to buy their house.
Why would the bank want to potentially own a house in the ghetto?
you can go to 4 year college for less than 25,000. That's one year of work at a minimum wage job.
It's not intentionally racist, rather racism is a side effect of efficiency and policy by statistics
Banks are all about managing risk, poor minorities are a risky demographic and are therefore avoided
Clearly we need to force banks to lend to high risk blacks against their better judgement
Why didn't they redline more when making mad profits off untenable loans to create the housing bubble that would inevitably pop?
Profit, for the rank and file. NPR will only beat around the bush. They rarely will start peeling the onion too much. But really it was to do with rolling over the dot-com bubble and re-instating the Great Depression era tactic of bankrupting a mathematically impossible system to naked short the bubble so as to buy it all back up on the cheap.
>Are minorities less likely to repay their loans?
Yes, but the Dinducrats pass laws forcing banks to loan to these fuckups anyway, so we get shit like 2008.
...
Not anymore, dude. The state school I attended is now charging north of $20k per year.
Not just them. Everybody was paid handsomely in various was to get in on the cut.
Remember: these are the dupes. They're the ones who trade on the inside information. The real people are the ones who make the inside information and let the minions get a cut to carry it out.
That's consistent with the big-name private school I went to as of a few years back when I looked at the undergrad tuition rates. (Everything above undergrad gets paid to be there.) One year cost my entire four years.
You mean the untenable loans they were forced to underwrite thanks to slick willy?
Tuition is cheap. Housing and cost of living a year is 4 years of my instate tuition honestly.
My rent is $605 a month, which is relatively cheap. Not pricey but not paying you family member to live in their bedroom.
In my home state (broke ass southern state) the best private school is up to like $55k per year and the state schools are charging around $20k or more. That 10% per year price inflation compounds fast. Time to remove ALL the government money, including subsidized loans. That is where the incentive to keep cranking up cost comes from.
Thanks to Alan Greenspan, Bob Rubin, and all that club? Billy-Bob Clinton deserves no exoneration for letting it happen, but he's hardly a mastermind.
The agency doing these undercover mystery shopper type stings is called CFPB "Consumer Financial Protection Bureau" and was formed by Obama in 2011.
Please explain this to an outsider
t. curious
Government backstopped loans are a big problem. Of course you're going to hike the tuition up like there's no tomorrow as long as you know you'll never have to face a loan default.
Most Jew tricks are pretty basic.
The loan money to broke people shit started in the 70's. Everyone since the Carter Administration has had a hand in it.
>Are minorities less likely to repay their loans?
Considering more of them rely on welfare, yes.
Completely correct, just pointing out that banks exploited those loans because they had to figure out some way to make money on the garbage they were being shoveled.
I lived in the Bay Area from '92 to '10 and got to watch the whole thing unfold in the hardest hit area. The shitty thing is that after homes got foreclosed on rent went through the roof because of the increased demand.
The 2010 Census included a large optional number of personal questions ranging from your race to how many toilets were in your house, and the government would send paid shills to your door if you didn't answer the survey, even after you'd answered the single and only legitimate question of how many people live in your house so as to correctly assure that there is proportional representation in the House of Congress, as mandated by the Constitution.
So all this went into a database, and any place with more than 50% "white" people was designated a segregated zone. Thereafter, the private thinktank corporation (which the Census worker told me was at the heart of this) ran the numbers to decide where to target relocation of "not white" people so that they would have "more equal" access to schools, parks, housing, etc.
The going thought at the time was that this would be just existing minorities and Section 8. But when the Caliphate Invasion came around, I thought, "oh wait, they really have an even bigger plan in mind." And then I watched the patterns of relocation in Europe to confirm a rough ideological analogue.
NPR just got rid of their comment section on their website and haven't posted this story to twitter yet. They don't want comments anyway. It could expose their listeners to dangerous points of view.
npr.org
Efficiency cannot be racist even if it redlines
yes, yes!
>"Redlining is the unethical practice where financial institutions make it extremely difficult or impossible for residents of poor inner-city neighborhoods to borrow money"
lol, this helps minorities more than it helps banks.
those retards cant get into debt easily now like they usually do.
Here is a related question: how come there are next to no black patrons at Disney World? Is carging admission racist if it keeps out minorities?
Thanks for explaining, dude! I had no idea.
Just subprime mortgage crisis my shit up again, not like that sucked.
Fuck off idiots!
Banks loan money against the value of the house, not the buyers ability to pay off the loan.
They couldn't care less if you paid off the mortgage or not. They only care about the value of the house.
If the house is in an area that is projected to lose value, the loan is foolish.
If the house is in an area that is projected to increase in value, the bank can loan the money to a Pekinese.
The only down side to society of the increasing the eligibility of owners is that the demand is increased, and the housing value increases until the builders can catch up.
Oh my! Why would the banks care about that? Guaranteed cash! Especially if the high risk loan can both ask a higher rate, and the turn over in repossessed houses keep the market moving up, while new homes means contractor loans!
Bank wins. Bank wins. Bank wins.
The problem is Capitalism, not racism! Banks don't win in poor neighborhoods.
Just goes to show that when the government sends a guy to your door, that you can learn something if you take the time to have a friendly chat.
When you're dealing with rumors and even what gets reported in the news, you still need as many datapoints as you can get to try to get a decent reading of it. If you're not familiar, you might want to look into UN Agenda 21, and the later iteration 2030.
That's a keeper.
Banks win in poor neighborhoods when there is enough government collusion to effect regentrification. Then they can also loan to the corporations betting on getting in on it.
>go into a bank with the "just fuck my shit up" haircut
>get denied a loan because the bankers thinks my life will be a mess
Obama will never do anything about this. That's why I wanted Rand Paul.
you realize there are hundreds more choices?
Right!
That's a new phenomenon mostly. Sure gentrification happened before, but after the 2008 housing crisis and recovery, it exploded, and that is one of the reasons you don't see redlining much anymore - not regulation.
There is still redlining in cities that are still in the middle of their repossession crisis, like Philly and Baltimore.
CFPB audits all mortgage institutions for redlining, HMDA violations, and fines heavily for violations.
Would a bank rather give a loan to a black guy who can afford it, or deny him and pay a $100,000 fine?
Don't be stupid, redlining doesn't exist anymore.
You're an idiot. Not all loans are for real property. Banks write off bad loans on regular basis. The point remains, if niggers paid their debts then banks would loan to them.
It's not very new to me when I've been watching it happen for many years and through rather extensive systems of collusions, PR campaigns, demographic replacement policies, fake "[insert your neighborhood here] development corporations, mass mailings from city councilpeople ragequitting about how they can't even try to represent their own districts anymore, the most idiotically ill-planed """green""" things that will only cost more money in the long run, on and on and on and on.
Why does that happen? Well, I guess somebody must be paying for it.
Asians get loans twice as much as whites. Is that racist?
What's the rate compared to blacks?
>refuse to loan to poor niggers
"You racist! How will they ever own a home?"
>loan to poor niggers
"You racist! Your greed caused to recession!"
Oh, sorry genius. Redlining is for car loans?
Wait! that is against the value of the car too...
I guess you must be talking out your ass...
Banks write down loans to make money, not to lose it! They still get the principle back on the collateral by selling the bad loan, and then take a tax cut. Unless, of course, you work for one of those banks run by a MBA finance guy instead of an actual actuary....
Holy shit you drank the koolaid
It's basically gerrymandering with a social justice bent
My neighborhood is only 30% white but the ethnics here are mostly rich middle class so BOOM we get dindus imported even though we already have plenty of nice, taxpaying 100k+ earning black people already.
>Don't be stupid, redlining doesn't exist anymore.
"BancorpSouth had engaged in illegal redlining in Memphis"
npr.org
I live in a relatively multicult place, naturally so because of all the un-American tax-free foundations we have here who import them by racist quotas. But not until this past year have I regularly seen hijabs in the hip cool parts of town (oddly enough, the orthodox jew section, but not the trendy gay section, go think...)
You would not believe the gathering I saw on the day after Ramadan of people of the likes I've never seen before. That's the first year they've ever requisitioned a city park to do that in. Physically, body language, dress, skull shape, demeanor, skin color, how they interact with our cars, sidewalks, other normal things -- all clearly FOB. No surprise where I live is also one of the bigger designated "refugee" zones in the country.
Blacks complain they can't get small business loans in their shitty neighborhoods. It's not all about home mortgages. Businesses need credit lines to operate, and many banks choose to not take that risk.
Went to a community one in texas, was around 18k a year.
A few mortgage lending tips. I used to be in mortgage sales, and my wife is a mortgage underwriter, both for a major bank that all you niggers have heard of.
> sales perspective
We don't fucking care who you are. We want to get you a loan. We make fucking commission. We want your money. It's basically our job to get anyone who could conceivably get a loan to apply. I don't care what color you are or what shithole you want to buy, i want your money.
> underwriting
These are the people who approve the loan. They never speak with the borrower. They crunch numbers and apply rules. They have basically no discretion either. They don't "decide" if you get a loan. They apply a bunch of formulas to your house, income, debt, and credit. They are basically computers. The only reasons they exist and have not been replaced by computers are
1) currently computer underwriters are not good at realizing when they are being lied to
2) the mortgage funding agencies need a human to be in the approval loop to hold accountable to be able to sell the loan debt.
Tldr the mortgage industry is alot of things, but not racist. The greed if the industry is color blind.
Rent to own 22 inch rims do not build credit.
These are reprecussions from the recession caused by the Clinton admin.
No, I didn't believe at first because I thought it was too nuts.
As you know, the universities are coming in. I walked through one yesterday and felt like I was in some weird 3rd world market from a movie.
You're not thinking like a liberal/democrat.
Merit is not why you give a person a job. If the people who have x jobs are white, then that is racist and you must equalize it.
Merit is not why you carry the olympic torch. It doesn't matter if you've won the most gold medals of all time, someone with more feels should carry it.
Merit is not why you get a bank loan. It should be given to people based on their color.
We are seeing, not just a redistribution of wealth, but of merit.
And that no name bank got fined 10 millions, bet they won't be doing it anymore. The system works.
Trips don't lie. Banks want to sell your mortgage asap. It's all based on your debt to income ratios, down payment, credit score, assets, liabilities, and loan program.
There isn't a reason for credit denial "Black guy" option lol
Is this one of those 'look, there's a disparity between races, so it must be racism!!!!!!' kind of things? Or is there actual explicit discrimination based on nothing but race?
You are racist unless you give blacks all your money and die.
Yo where at my man? I'd love to know where such a place existed.
we have hijabis moved in just 3 houses down
the dad looks like an Egyptian taxi driver and smokes in the front garden in a lawn chair talking loudly in Durka talk on his cell phone and coughing up phlem, absolutely disgusting and trashy (average house price here is a million, I'm not sure how they afforded it)
One here or there is white people problems.
Wait until you can't go around without seeing them. And all the rest kinds of the outsiders will be cropping up around at an alarming rate. It will become normal to not speak English.
>lenders are less likely to borrow to financially irresponsible people
DAS RAYCIS
yeah, that's never ended badly *cough*mortgagemeltdown*cough*
What about asians?
Edit: found it
Redlining was something that occured in the 50's with government backed loans. Not quite the same system that is in place for the past few decades.
no one here speaks English
40% Chinese, 20% spic the rest black and whites
whereat?
bay area sadly
The dindu hordes should be driven back to oakland by the new Chinese overlords but they're all cucks who vote Democrat because they have no idea how politics works.
as a result they keep importing ghetto trash right into the few remaining nice parts. Crime has got crazy bad this last few years, I sleep with my gun by my bed and even the cops who live here are moving 30 mins west.
They did away with Glass Steagal and thats what lead to the collapse....circa 1990s
Whom do you think is to blame for this? Was it a matter of a vote?
As someone who studied real estate, REDLINING was a real thing and basically involved minorities whether it be latinos or blacks were being "redlined" by offering certain financing products to one group and not to the others and also to pad their applications so it looked like they couldn't borrow...