Blame The Economy On The Whites

Brazil’s President Luiz Inácio Lula da Silva blamed the economic problems on white people with blue eyes. According to this racist jackass it was only white people who were running the banks and caused the problem because they thought they knew so much but showed how little they really do know.

And this jackass bases his assessment on the fact that he knows no people of color who run banks. Now that is a smart way to come to such a racist conclusion.

Perhaps he never heard of people like Jesse Jackson and Al Sharpton who protested and worked to get loans for people of color. These were loans they could not afford and that would never have been made had banks not been forced to abandon safe practices under the threat of protest and claims of racism. I know there were plenty of people of all races who borrowed more than they could afford but the race baiters do not fight for them. Regardless, they were part of the problem and they are not bankers no matter what color they are.

Perhaps the Brazilian jackass has never heard of Congresswoman Maxine Waters or her husband Sidney Williams. Williams is a banker and Water used her office to try to get him bailout money. Williams is definitely black, or a person or color, of NOT white with blue eyes.

I am pretty sure there are plenty of bankers of color and I am sure many of them ran their businesses ethically just as many white, blue eyed bankers did. There were a lot of things that caused the problems and I am certain that it was not solely a bunch of white, blue eyed guys.

Perhaps president jackass does not know any bankers of color because his country is not as diverse as the US.

Considering George Bush supported an International Monetary Fund bailout of Brazil in 2002 it is hard to say that the white guys are all the problem. This is especially true when one considers that Brazil’s problems were the result of corruption in its financial system.

I guess the corruption, failed judicial system, and need for a bailout in 2002 were the fault of blue eyed white guys as well?

And don’t you white guys with brown or green eyes think you are off the hook. First they came for the blue eyed white guys and I said nothing….

Big Dog

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13 Responses to “Blame The Economy On The Whites”

  1. Lyn says:

    Be careful reading this blog. I was nodding so much in agreement that I got dizzy.

    Want to add something. Lula also made some comments about immigration policy being racist. What a crock! Europe has taken in millions of Africans and Arabs. (And now Europe has a welfare class of rotters and jihadists; thanks for nothing.) And America has taken in tens of millions of people from all over the world.

    Brazil’s President Lula needs to get urgent treatment for his syphillis – it’s driving him wacko and he’s talking loco.

  2. Mike Radigan says:

    Maxine Waters also said Fannie Mae was in great shape under the outstanding leadership of Franklin Raines. Mr. Raines is also black.

  3. Adam says:

    What? Blue eyed white guys? As a blond haired blue eyed whitey myself I can say we were not involved. Everybody knows it’s the brown eyed Jewish banker conspiracy controlling our financial system. You remember there were no Jews in the WTC when it fell, right? It’s the Jews controlling the media that keep this truth from coming to light…

    Seriously though, from your perspective it’s the minorities and their loans that caused this, not the whites. That’s as much rubbish as President 50 Names and his white guy conspiracy.

    You’ve said that if there were no subprime loans then the crisis wouldn’t have happened. Maybe that’s true but blaming the crisis on minority lending is like blaming ammo manufactures for the robbery at that Miami Burger King.

    Sure, if they hadn’t made that ammo then that robbery wouldn’t have happened but when there are so many other factors and levels of responsibility down the line why would we blame one of the smaller parts of the puzzle for the entire incident?

    Subprime mortgage holders are not off the hook but the bottom line is that we trusted the financial institutions, investors, and ratings folks to be good stewards of the mechanisms that support our way of life but they were too concerned with quick profit and running with the pack to stop and consider that their instruments were too complex, confusing, overrated and risky.

    Wow, that’s some sentence, right?

    • Big Dog says:

      You see, this is what happens when you don’t read for comprehension. I did not say that it was the minorities, I only stated that they had a part in it. Perhaps this part escaped you:

      I know there were plenty of people of all races who borrowed more than they could afford…

      Or perhaps the part where I said that it was the fault of a lot of different people:

      I am pretty sure there are plenty of bankers of color and I am sure many of them ran their businesses ethically just as many white, blue eyed bankers did. There were a lot of things that caused the problems and I am certain that it was not solely a bunch of white, blue eyed guys.

      I believe that if you read this you will see that I am saying that there were a bunch of things involved and that it was not just the blue eyed white guys as the racist president points out. BTW, it was not the Jews or any other group including investment bankers. There were a lot of things but a MAJOR part was the subprime mess with trillions in loans that could not be repaid.

      • Victoria says:

        Don’t forget the–“The Community Reinvestment Act of 1977 which seeks to address discrimination in loans made to individuals and businesses from different areas or neighborhoods,[6][7][8] and mandates that all banking institutions that receive FDIC insurance be evaluated by the relevant banking regulatory agencies to determine if the institution has met the credit needs of its entire community in a manner consistent with safe and sound operations.”
        This is what started it and the Clintons continued it. Those last words “consistant with safe and sound operations” should have been left off because that is an oxymoron which if you ever read anything that congress writes especially lately is out and out stupidity such as this–“a workable, fair, and reasonable mandatory service requirement for all able young people.” but I digress. Anyway all of this stuff lately AIG and everything points the finger at anyone and everyone but the Dumocrats and the Congressional Black caucus, Obama, Maxine Waters, Chris Dodd, Barney Frank,etc. etc. and anyone who wants to scream racist can do it all they want to. Adam wants to scream about trusting finanacial institutions being good stewards–well I wanted to trust that my government was being a good steward of their power and not taking over.

      • Adam says:

        Oh jeeze. Read for comprehension? If there’s a problem with my comprehension it comes from some of your ideas being incomprehensible, but I digress.

        You’re just running from your past and present view that it is the fault of minority lending. Let’s look at what you are saying in this past quote:

        The financial meltdown is a direct result of government forcing banks to make bad loans. It was the Community Reinvestment Act and the subsequent pressure from groups like ACORN that allowed people to get loans they could not possibly pay back.

        And from today:

        These were loans they could not afford and that would never have been made had banks not been forced to abandon safe practices under the threat of protest and claims of racism.

        You believe that had banks not been forced to lend to minorities through pressure from “race baiters” and ACORN and the CRA then nobody would have been able to get the loans which you say is a “MAJOR” cause of the problem.

        Bad lending is about a 1/3rd of the problem. The other 2/3 involve negligent actions on the part of the financial institutions that encouraged these subprime loans in order to increase the quantity of mortgages available for them to buy and package for investors snowed into believing they were safe because of improper ratings and myths about housing prices in the event of a foreclosure.

        • Big Dog says:

          And in which part of the first quote does it say that that it was minorities? I am not running from anything. I have stated (as you point out with the first quote) that bad loans period, were the problem. Yes, a large number went to minorities who could not afford them and that is a direct result of the race baiters and their protests and threats. The meltdown started with the housing bubble that burst when ARMS started going up and people could not afford their loans, loans that should never have been granted.

          The second quote states there were LOANS that never should have been made and yes, a lot of them were made to keep from hearing shouts of racism.

          There is enough blame to go around but don’t attribute to me things which are not true.

          I have never absolved banks (or other financial institutions) of their guilt. They were forced to make the loans and they took advantage of the situation.

          The problems are many including people like Frank, Waters, and Dodd saying all was well despite 17 warnings from the Bush administration and regulators not doing their jobs.

          An old Sergeant Major once told me that the workers only do what the bosses check. Well, institutions only do what the regulators check and if the people who were supposed to enforce the regulations were not doing their jobs then the institutions were going to take more rope, so to speak. The problem is not that there are not enough regulations. The problem is that the regulations are not enforced. The revolving door between government and financial institutions has an odd effect that way.

          So I would say 1/3 CRA, 1/3 institutions taking advantage of the situation and 1/3 government failure to do its job.

      • Randy says:

        Your assertion that banks were being forced to lend to minorities and that is what was a major factor in the mortgage crisis is wrong. Banks weren’t handing out these loans under duress. They weren’t out there saying, “Geez, I know this loan is a bad idea, but under the law, and under the threat of being labeled a racist, I just gotta approve it.” Quite the opposite. They were falling over each other trying to hand out these loans to make a fast fortune.

        • Big Dog says:

          Right. And that is why so many people are pointing back at this. So Sharpton, Jackson and ACORN protested for what? If the banks were falling all over themselves there would have been no need for the protests and intimidation.

          Now, there were some banks not intimidated and they were forced to take bailout money.

      • Randy says:

        They aren’t pointing back at CRA itself, unless you are talking about a few right wing bobbleheads. Real economists are pointing to the CRA that was gutted of all of it’s regulations by the Financial Modernization Act, or Graham-Leach-Bliley. Actually, most of the blame goes to Phil Graham himself. He was the one that insisted on the deregulation of the CRA, against the concerns of the co-authors of the bill.

        After that, yes. Many banks were falling all over each other to lend money to anyone and everyone, regardless of credit history or otherwise demonstrated ability to pay back those loans.

  4. Kris says:

    Whew, sure am glad I have brown eyes! Can’t blame it on me.

  5. Barbara says:

    I’m white and blue-eyed and if I caused all these banks to fail, then geez, I am really powerful!