Drummond: Bank foreclosures are an urban blight

Full story: Inside Bay Area

Visit a predominately African-American or Latino neighborhood in any major metropolitan area and you will more than likely find the eyesore of foreclosed homes.
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1 - 5 of 5 Comments Last updated Apr 17, 2012
Really

Greenville, SC

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#1
Apr 15, 2012
 
I guess cause heartless mortgage co./Banks have tons of forclosed black single parent homes,due to first-hired first-fired layoffs..and hispanics picking up and moving in the night cause they weren't suppose to get houses in the first place cause they were ILLEGAL!
So tough!
Prophecy

Dayton, OH

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#2
Apr 16, 2012
 
Well,no. That isn't what happened.

Back in 2007 Barney Frank, and Christopher Dodd, both Democrats, passed legislation forcing banks to give mortgages to people they knew could not repay their loans.
That legislation is the cause of today's recession and housing market implosion.
The banks were not preditors, they were forced to make the loans and layoffs had nothing to do with it, there are just some people who are not currently credit worthy who should not have mortgages.
It's a prime example of governmentmeddling where it doesn't belong. For more facts read "Reckless Endangerment" by Gretchen Morgansen of the New York Times.
Really

Alexis, NC

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#4
Apr 17, 2012
 
Prophecy wrote:
Well,no. That isn't what happened.
Back in 2007 Barney Frank, and Christopher Dodd, both Democrats, passed legislation forcing banks to give mortgages to people they knew could not repay their loans.
That legislation is the cause of today's recession and housing market implosion.
The banks were not preditors, they were forced to make the loans and layoffs had nothing to do with it, there are just some people who are not currently credit worthy who should not have mortgages.
It's a prime example of governmentmeddling where it doesn't belong. For more facts read "Reckless Endangerment" by Gretchen Morgansen of the New York Times.
http://theeconomiccollapseblog.com/archives/p...
here propecy....
Prophecy

Dayton, OH

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#5
Apr 17, 2012
 
Really wrote:
<quoted text>
http://theeconomiccollapseblog.com/archives/p...
here propecy....
Oh boy. I'm not talking about survivalist propaganda, I'm talking about what really happened.
Really

Bowling Green, SC

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#6
Apr 17, 2012
 
Prophecy wrote:
<quoted text>
Oh boy. I'm not talking about survivalist propaganda, I'm talking about what really happened.
It's always propaganda till it hits your doorstep...like midway!!!

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