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Journal of No. 118


October 8th, 2008

Syllogism of Suck @ 06:52 am

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Major premise: 'Everyone knows' that minorities and social activism are to blame for the unwise lending decisions that led us into the current icky-poo.

Minor premise: 'Everyone knows' that minorities vote Democrat.

Conclusion: Therefore, foreclosure rates are higher in Republican-held Congressional districts.
 
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From:essentialsaltes
Date:October 8th, 2008 05:18 pm (UTC)
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That's interesting, though if these loans are held to stricter standards, not too surprising.

Or rather, I think the stricter standards are responsible for the difference, rather than any difference between illegal aliens and citizens in their desire and ability to buy a house and stay in it.
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From:dustchick
Date:October 8th, 2008 10:36 pm (UTC)
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If I had to demonstrate an monthly income of three times the rent for my apartment, I don't understand why people didn't have to show proof of appropriate income for their zero-down, interest-only mortgages. I'm still just baffled at the stupidity and vile greed behind the housing/credit crisis.

Journal of No. 118