How Political Correctness Caused The Credit Crunch

ROGER Franklin says black people cing poor and white people being sad caused the credit crunch:

As for a home loan, the real estate agents assured him that wouldn’t be a problem, even with no money to put down.

Sure, he’d never earned more than $45,000 a year, carried a wallet stuffed with maxed-out plastic and was on the hook for car payments, school fees, medical insurance and all the furniture that went into his McMansion by the sea.

Twenty years ago any sane banker would have told him to take a hike.

Because a lot of those with poor credit also happened to be black, any refusal to lend was also apt to be called racist.

In the black, and in the red…

Anorak

Posted: 5th, October 2008 | In: Money, Twitterings Comment | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink