Sooooooo….
The CBC brokers a deal to get access to $6 billion dollars added to the Wall Street regulation bill ($3 billion of it to provide “low-interest loans to unemployed homeowners in danger of foreclosure.”). Who do you think is going to issue those loans? The Congressional Black Caucus Bank of Black America? I already answered this question the other day. The short answer: The same banks that Obama is supposedly going to give a good talking to for A. their big bonuses and B. for not lending enough.
So why continue to give them money?
In this economy, low-interest loans are high risk. Obama and the gang are restarting the crazy machine all over again while he and the CBC are getting praised for finially standing up for Black interests.
Funny. Just over a year ago banks pushing low interest, high-risk loans on Black folks was seen as taking advantage of the poor.
Today, it’s called “rescue”.
Some retro-reading for today.
Geithner Aides Worked With AIG for Months on Bonuses
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