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Steve_Sailer's profile
Steve Sailer
Steve Sailer
Steve Sailer
@Steve_Sailer

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Steve Sailer

@Steve_Sailer

America
unz.com/isteve
Joined October 2010

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    1. Steve Sailer‏ @Steve_Sailer Sep 14

      After GWB denounced traditional downpayment and documentation credit standards at his 10/15/02 White House Conference on Increasing Minority Homeownership, Mozilo of Countrywide pledged $600 bn in 2003 in "multicultural" lending if regulators cut him slack on his dubious loans.

      1 reply 3 retweets 15 likes
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    2. Steve Sailer‏ @Steve_Sailer Sep 14

      Mozilo used Diversity rhetoric about "race gaps" and "redlining" to intimidate regulators and GSEs into letting him profiteer off trashy loans to marginal borrowers. That's what Bush wanted in his "ownership society" to make Hispanics into GOP-voting homeowners.

      3 replies 6 retweets 34 likes
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    3. Steve Sailer‏ @Steve_Sailer Sep 14

      Strikingly, GW Bush apologized in his 2010 memoir for how his "ownership society" initiative set off the Housing Bubble/Bust. But almost nobody has noticed: http://www.unz.com/isteve/george-w-bush-launches-mortgage-bubble/ … @mtaibbipic.twitter.com/Sw8c2q75T9

      2 replies 24 retweets 57 likes
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    4. Steve Sailer‏ @Steve_Sailer Sep 14

      Here's GW Bush launching the Housing Bubble at his 10/15/2002 White House Conference on Increasing Minority Homeownership, in which he told his federal regulators that old-fashioned credit standards like down payments & documentation caused race gaps: https://youtu.be/mJphsJYkfmE pic.twitter.com/oMAKmN4WYc

      3 replies 14 retweets 48 likes
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    5. John McCarthy‏ @JohnMccarthyyy Sep 14
      Replying to @Steve_Sailer

      Oh wow look, empty political rhetoric from a president. That settles everything. It’s definitely black grocery workers’ faults the world economy collapsed in 2008. You’ve really sunk the final nail with this one.

      1 reply 0 retweets 0 likes
    6. Steve Sailer‏ @Steve_Sailer Sep 14
      Replying to @JohnMccarthyyy

      It wasn't empty rhetoric. GW Bush in 2002 repeatedly told his own federal regulators that imposing traditional credit standards on mortgage lenders for down payments and documentation worsened racial inequality in homeownership. White lenders like Mozilo & Arnall exploited this.

      1 reply 0 retweets 1 like
    7. John McCarthy‏ @JohnMccarthyyy Sep 14
      Replying to @Steve_Sailer

      Yep it was the “black part” of the MBS’s that REALLY messed everything up. I know the refrain. I’ll just forget that Republicans and neoliberals wanted and got deregulation for decades, I mean, why go there when you can tell us that one Miramar subdivision broke the world.

      2 replies 0 retweets 0 likes
    8. John McCarthy‏ @JohnMccarthyyy Sep 14
      Replying to @JohnMccarthyyy @Steve_Sailer

      If they were offering people like me a seven figure mortgage, I’ll go ahead and assume they used “racial equality” as one of a million excuses to be allowed to toss loans around like bean bags.

      1 reply 0 retweets 0 likes
    9. Steve Sailer‏ @Steve_Sailer Sep 14
      Replying to @JohnMccarthyyy

      GW Bush at his 2002 WH Conference on Increasing Minority Homeownership demanded 5.5 million more nonwhite homeowners. He told lenders and regulators to stop worrying so much about down payments and income documentation. That opened loan floodgates, including to marginal whites.

      1 reply 0 retweets 0 likes
    10. John McCarthy‏ @JohnMccarthyyy Sep 14
      Replying to @Steve_Sailer

      Oh he “demanded 5.5 million new black homeowners” and immediately everyone followed his marching orders because that’s how things work in your imagination, I mean in America.

      2 replies 0 retweets 0 likes
      Steve Sailer‏ @Steve_Sailer Sep 14
      Replying to @JohnMccarthyyy

      GWB was boss of regulators whose job it is to keep lenders from running amok and needing bailouts by giving out too many stupid mortgages to deadbeats. GWB told his bureaucrats in 2002 that old-fashioned down payment and documentation credit standards caused racial inequality.

      6:56 PM - 14 Sep 2018
      1 reply 0 retweets 0 likes
        1. John McCarthy‏ @JohnMccarthyyy Sep 14
          Replying to @Steve_Sailer

          Your implication is now that regulators under Republicans avoided bailouts before 2008, which is absolutely hilarious, unless you have amnesia and forgot about 1989. I’m sure you have some convoluted reason why blacks and Hispanics are responsible for that one also though.

          0 replies 0 retweets 0 likes
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