General Discussion

Spider Jerusalem

(21,786 posts)

73. There is a significant difference...

Sat May 24, 2014, 09:19 AM

May 2014

between being stuck with a loan on a home that was overvalued because of a bubble, and between having gone into foreclosure because of predatory lending practices. See THIS, for instance: http://public.tableausoftware.com/views/Mortgages/Dashboard1?:showVizHome=no#1

There is a very significant disparity in higher-rate mortgages to creditworthy borrowers along racial lines; only 6.2% for white borrowers, and 21.4% for black borrowers (and 19.3% for Hispanic). Whether the housing crash "hurt every homeowner" is neither here nor there; it was a bubble, and housing was overvalued, so yes, a lot of people are stuck with loans for property not worth as much as they owe on it. But ethnic minorities were very disproportionately affected by certain lending practices.

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It's rare I outright implore people to read an article [View all] Recursion May 2014 OP

"...cuddly feel good diversity does very little to redress this." Supersedeas May 2014 #1

Well worth reading - thanks for sharing. nt el_bryanto May 2014 #2

thank you for the recommendation.... mike_c May 2014 #3

I read it, but don't see anything new. aikoaiko May 2014 #4

This ... 1StrongBlackMan May 2014 #5

Right, but people in the present have recourse in the present, for the most part. aikoaiko May 2014 #9

It took 57 years for the Japanese internment camp reparations. M0rpheus May 2014 #15

True ... 1StrongBlackMan May 2014 #18

Is there a statute of limitations on crimes of such magnitude? I don't think so. sabrina 1 May 2014 #52

Damn Sabrina. bravenak May 2014 #53

Yes, I believe we have fewer morons feeling they can act with impunity against people if they knew sabrina 1 May 2014 #116

What crime? treestar May 2014 #94

What crime? The deprivation of the human rights and enslavement of an entire population sabrina 1 May 2014 #105

There is a statute of limitations on everything but murder treestar May 2014 #109

No it does not. When a country's government is responsible for crimes against humanity, the statute sabrina 1 May 2014 #115

No statute of limitations on crimes against humanity (mass murder). Just ask Charles Taylor. n/t nomorenomore08 May 2014 #112

Can you cite that law? treestar May 2014 #113

They had no problem charging Taylor under international law, decades after the atrocities nomorenomore08 May 2014 #114

THIS malaise May 2014 #13

Paying for other people's sins from long ago? Spider Jerusalem May 2014 #8

I do agree that people who are alive today and have been wronged by... aikoaiko May 2014 #10

Let me share a little ... 1StrongBlackMan May 2014 #20

Thank you for sharing your story. aikoaiko May 2014 #47

Thanks for the very concrete example. That is very informative. GoneFishin May 2014 #85

Now, granted ... 1StrongBlackMan May 2014 #86

Land is a huge foundation for a comfortable, better life. A few people I know have GoneFishin May 2014 #92

Relatedly ... 1StrongBlackMan May 2014 #97

I can't relate to over-the-top weddings. It seems like when a couple is just starting off GoneFishin May 2014 #101

it was not just subprime loans that went under during the crash magical thyme May 2014 #62

Again, since people have issues grasping this: Spider Jerusalem May 2014 #64

I'm not saying that some groups didn't get hurt worse than others magical thyme May 2014 #71

There is a significant difference... Spider Jerusalem May 2014 #73

"Whether the housing crash "hurt every homeowner" is neither here nor there;" magical thyme May 2014 #107

Except the housing crash wasn't actually caused by "mass fraud". Spider Jerusalem May 2014 #108

If you took that away from that article, then you didn't read it Number23 May 2014 #38

Doesn't seem like you read it then. It's mostly about post-WWII housing policy Recursion May 2014 #48

But pre WWII discrimation is the more difficult issue aikoaiko May 2014 #59

Does it contain any proposal for actually carrying out reparations treestar May 2014 #95

... treestar May 2014 #99

There's the section on Belinda Royall treestar May 2014 #96

You might consider rereading this incredibly chervilant May 2014 #103

I think I'll do that. aikoaiko May 2014 #104

Pulitzer material. Lint Head May 2014 #6

Nah. I reject the entire premise of reparations. closeupready May 2014 #7

Why? eom. 1StrongBlackMan May 2014 #21

A lot of reasons - it'd set a bad precedent; centuries have passed; closeupready May 2014 #23

Bad precedent? ... 1StrongBlackMan May 2014 #24

Someone I've heard of before who isn't too extreme and closeupready May 2014 #25

Would these guys do? M0rpheus May 2014 #28

Yes. What have they written on the subject of reparations? closeupready May 2014 #31

Here ya go! M0rpheus May 2014 #33

Gah! No, centuries haven't passed. Read the article. It's about postwar housing policy Recursion May 2014 #49

no handmade34 May 2014 #55

T. Hartmann was talking about reparations yesterday. ErikJ May 2014 #11

I read it last night - loved this line malaise May 2014 #12

Excellent read. Thanks for posting! nt adirondacker May 2014 #14

I'm afraid I was not impressed. Donald Ian Rankin May 2014 #16

So you wish to ignore ... 1StrongBlackMan May 2014 #22

Yes, completely. Donald Ian Rankin May 2014 #26

Even though the wealthy that was built on that stolen labor remains? eom. 1StrongBlackMan May 2014 #27

Yes. Donald Ian Rankin May 2014 #29

I don't know if 'legitimately' would be the word I'd choose. Shandris May 2014 #34

Precisely. The sins (and the oppression) of the fathers passes on to later generations - whathehell May 2014 #37

NO IT HASN'T! ... 1StrongBlackMan May 2014 #36

YES IT HAS! I CAN USE CAPS AND PUNCTUATION TOO!!! Donald Ian Rankin May 2014 #41

The crimes of black oppression continued legally into the 1960s, so your timeframe is clearly off. kwassa May 2014 #75

150 years ago? Blacks were still being lynched in the 1960's. JaneyVee May 2014 #39

Reread the exchange that begins with post #16; I think you've come in in the middle. N.T. Donald Ian Rankin May 2014 #42

No, he's pointing out Coates's central argument, which you're still avoiding Recursion May 2014 #51

this happens a lot noiretextatique May 2014 #88

And.as Strong black said above, sometimes the wealth changed hands illegitimately too. panader0 May 2014 #43

If they were talking about a painting, would you have the same opinion? KitSileya May 2014 #56

IT'S NOT ABOUT SLAVERY Recursion May 2014 #50

Yeah, you didn't read the article either. It is not about slavery, but FHA housing policy. kwassa May 2014 #78

Thank you!!! mstinamotorcity2 May 2014 #17

I find the article's reasoning to be weak, and its prescriptions antithetical to forward movement. appal_jack May 2014 #19

The 99% should support basic minimum income RainDog May 2014 #44

I agree 100%, RainDog. nt appal_jack May 2014 #45

Remind me where Coates mentioned *slavery* reparations? Recursion May 2014 #58

In the case of Belinda Royall treestar May 2014 #102

I support Reparations, although in this political climate whathehell May 2014 #30

I'm still reading it, trying to not skim through it. Starry Messenger May 2014 #32

Worked with a teacher who help bust banks with the undercover group on Chicago's South Side. ancianita May 2014 #35

Whether or not one agrees with reparations is almost second to me re: this piece Number23 May 2014 #40

Number23: Raine1967 May 2014 #89

It's obvious that people did not and WILL not read it. And then these same folks will be in every Number23 May 2014 #110

What I'm doing to say is something that I may never ever understand. Raine1967 May 2014 #111

Thanks for posting. This should be required reading for every American. octoberlib May 2014 #46

Will do. Thanks for the link. nt Hekate May 2014 #54

Excellent piece and required reading for all Americans nt steve2470 May 2014 #57

What a revealing quote this is: DebJ May 2014 #60

i jus do not know of any workable compensation for things that old Leme May 2014 #61

What do you mean "that old"? He's talking about the 1950s and 1960s Recursion May 2014 #63

sounds like it Leme May 2014 #65

Why do you assume "reparations" means it's about slavery? (nt) Recursion May 2014 #66

reparations generally mean money Leme May 2014 #117

i looked, title is Leme May 2014 #67

It's talking about reparations gollygee May 2014 #68

Writers don't write headlines, editors do Recursion May 2014 #69

Like i said Leme May 2014 #72

Title of peice is misleading Leme May 2014 #70

Sigh Recursion May 2014 #74

it's an introductory peice Leme May 2014 #80

Yes, it's a summary of the past four years of research he has conducted Recursion May 2014 #81

yeah, ok for what it is Leme May 2014 #83

Would the people be identifiable? treestar May 2014 #93

Mr. Ross took up his case in 1968 treestar May 2014 #98

What happens to a dream deferred? gollygee May 2014 #106

I agree treestar May 2014 #91

I am not surprised the discussion has shifted to Harmony Blue May 2014 #76

go to Atlantic Monthly Leme May 2014 #82

he tells a story, not fictional Leme May 2014 #77

Is the Atlantic Monthly a scholarly review? kwassa May 2014 #79

no, not scholarly Leme May 2014 #84

That you for this. Raine1967 May 2014 #87

anyone believe america was ever "ready" to pay reparations? noiretextatique May 2014 #90

This is interesting treestar May 2014 #100