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The developer of Capitol Hill Oasis, Gloria B. Herndon, said she and her husband conceived of their project as a way to “give back to our community.” They envisioned townhomes that could be used as residences or offices or both.
Before Capitol Hill Oasis, Herndon, a former State Department diplomat and insurance brokerage owner, and her husband, Brent, an engineer, had completed a similar project on 15th Street SE. The couple, who live in Rockville, also had renovated half a dozen homes in St. Louis, she said.
Capitol Hill Oasis failed, she said, because of events beyond their control, including a fire on a neighboring property that led to more than a year of construction delays. Their bank foreclosed on the property last year.
“We were trying to develop the area to make it a showpiece in that part of the District,” Herndon said.
Referring to the bank that foreclosed on the property, she said, “They have virtually stolen the project.” An African American, Herndon said she believes that “racism and sexism” drove the bank to foreclose.
They foreclose because you didn't pay the bill... they are just using false excuses for their failures... I hate pre-fab homes, they look and feel like cheap crap...
Thought provoking post from OP. If you read 'Reckless Endangerment' by Morganson & Rosner, which is about Fannie, Freddie, and the housing crash, there was much invoking of racism to justify the policies that helped bring about the bubble and crash.
Around 1991 Congress passed a law that required race data on mortgage paperwork. The Boston Fed did a study that found racism at work in mortgage markets. This study made a big splash in the press at the time. The study was later criticized by other economists but in the meantime Fannie Mae jumped on it to justify loosening of credit requirements, which predictably supercharged the bonuses of Fannie execs. The loosening of standards was unquestionably a factor in the bubble. Even the author of the study, Alice Munnel, later said that it had been deficient, and further that been (mis)used to push policies that she never would have supported, deficiency or no. //www.city-data.com/forum/polit...ed-create.html
well lets see, AA and wasp contractors would not bid on the rebuilding of new orleans after katrina.
new orleans was rebuilt by illegal mexicans, for the most part, aka subcontracting.
so this was a matter of principle that AA did not bid?
defiance of wage descrimination?
rip off? a righteous stand against the evil employers, we the people?
capitalism only works when u got a starving desperate labor pool. american infrastructure was built with it.
AA knows this. what is sad is americans have no problem with slavery, as long as its not them.
Topic posted showing FACTS that paint whites in a positive light = acceptable
Topic posted showing FACTS that paint blacks in a positive light = acceptable
Topic posted showing FACTS that paint whites in a negative light = acceptable
Topic posted showing FACTS that paint blacks in a negative light = RACISM!!
...umm yea but EVERY thread you create paints blacks in a negative light, so yea that makes you a racist. Just sayin maybe mix it up, maybe even paint blacks in a positive light once in a while.
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