The Housing Bubble was set off by the Bush Administration's 2002-2004 "Increasing Minority Homeownership" campaign to add 5.5 million nonwhite homeowners by 2010. The financial industry, like all True Americans, believed Diversity Is Our Strength: So what could possibly go wrong?https://twitter.com/MalaikaJabali/status/1206928673452052481 …
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Plenty of bankers like Kerry Killinger of Washington Mutual and Angelo Mozilo of Countrywide were True Believers in Diversity Is Our Strength. They actually believed bigoted banks were overlooking Hispanics for home mortgages, and that their firms would get rich lending to them.
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Replying to @Steve_Sailer @torinmccabe
That's how a market is supposed to work - people have all kinds of ideas - even stupid ones and risk money on them. Money then ends up in the hands of people who had ideas that *weren't* stupid. Of course this is objectionable when the stupid ideas are "progressive".
5:38 PM - 17 Dec 2019
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