It’s old news that Obama “was a pioneering contributor to the national subprime real estate bubble” that led to the subprime mortgage crisis in 2008.
Newsflash: “New mortgage rules issued last week by the administration will have the effect of forcing lenders to approve prime loans to borrowers who would normally only qualify for subprime loans carrying higher interest rates and fees to cover the added risk of default… As a result, analysts warn lenders may end up having to “subsidize” riskier borrowers at the expense of other customers… Mortgages carrying a prime rate, or one within 1.5 percentage points of the national average, will have the strongest level of legal protection. Analysts say this rule effectively limits lenders’ ability to price for risk… Starting in January 2014, when the new rules take effect, borrowers who default on nonqualifying home loans will have the power to “raise a foreclosure defense” against banks… In addition, lenders who underwrite such nonqualifying loans could open themselves up to federal charges if recipients are minorities… As part of recent consent decrees, Justice has ordered several bank defendants to approve prime-rate mortgages for African-Americans and Latinos who otherwise would not qualify for them.” In true Obama style, he has promoted discrimination and bad economic policy in one fell swoop.
Obama had nothing bad to say about this video released by his liberal supporters (who also happen to be “mainstream journalists”): http://www.breitbart.com/Big-Journalism/2012/07/10/Fmr-Media-Matters-Hack-Says-Romney-Too-White-for-Black-Voters They say that Romney is “so white” “extremely white” and makes “Wonder Bread look like pumpernickel.”
This rhetoric would be unacceptable to any American of common decency. It’s ironic– it looks like the racists of the 1960s switched parties and switched the target of their hatred from “blacks” to “whites.” The fact that Obama has supported this video through his silent reaction confirms that he is a force of extreme divisiveness in this country.
Before all the facts had emerged from the controversial case, Obama condemned George Zimmerman and said that “If I had a son, he’d look like Trayvon” Martin.
… Obama ignored contemporaneous attacks on whites by black perpetrators: “The assault on a pair of Virginian-Pilot reporters in Norfolk, Va., two weeks ago at the hands of 30 black youths… are the latest in a series of attacks driven by a warped sense of racial vigilantism hiding behind calls of “Justice for Trayvon.” At least 15 whites have been beaten not just with fists, but with potentially deadly weapons including hammers and lengths of chain. Many of the victims have been hospitalized, some may never fully recover, and one lingers on the verge of death.”
Obama never apologized for rushing to judgment before a fair trial (and trying to ignite a race war in America)– even after new evidence emerged indicating that George Zimmerman shot Trayvon Martin in self-defense.