Biden - "Our priority will be Black, Latino, Asian, and Native American owned small businesses, women-owned businesses, (middle east, economy)
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Sorry, no. When the government commits race-based and/or gender-based discrimination, it's a violation of BOTH the Civil Rights Act AND the 14th Amendment's Equal Protection clause. Period.
Where were al these concerned people when the banks and the FHA were red lining? When GM would not sell a Cadillac to a Negro? How about schools putting the new most inexperienced teachers in the most needy populations.
Solve the math problem in my son's classroom. There are 2 cars on a track. One is permitted to go 70 MPH, the other 50 for an hour. Then the 50 MPH car is permitted to also go 70. When will the car permitted 50 MPH acquire the number of laps the 70 MPH car has?
All this 'I never discriminated against anybody, why penalize me' excuses are not productive. The population of this country needs to understand the ramifications of past laws and customs so we can at the very least understand how the mistakes that were made affect people today.
A relative had a NYC shrink whose practice for many years was mostly the progeny of holocaust survivors. He told her that it takes 3 generations for the effects to work through a family. What about cultures?
Where were al these concerned people when the banks and the FHA were red lining?
Redlining wasn't about race or gender. It was about risk. Purely mathematically justified risk management. Lenders have a fiduciary responsibility to manage risk appropriately, or they lose the money backing the loans which harms everyone as backers stop fronting money to losing propositions.
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When GM would not sell a Cadillac to a Negro?
GM is not the Fed Gov. The problem here is that Biden has promised that the Fed Gov will deliberately discriminate against white males in regards to the Fed Gov's small business COVID relief program, which is a violation of both the Civil Rights Act AND the 14th Amendment's Equal Protection clause.
Last edited by InformedConsent; 01-11-2021 at 07:02 AM..
[quote=InformedConsent;60127859]Redlining wasn't about race or gender. It was about risk. Purely mathematically justified risk management. Lenders have a fiduciary responsibility to manage risk appropriately, or they lose the money backing the loans which harms everyone as backers stop fronting money to losing propositions.
[quote]When GM would not sell a Cadillac to a Negro?
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GM is not the Fed Gov. The problem here is that Biden has promised that the Fed Gov will deliberately discriminate against white males in regards to the Fed Gov's small business COVID relief program, which is a violation of both the Civil Rights Act AND the 14th Amendment's Equal Protection clause.
Oh for Pete's sake, why the risk? When it started blacks could not open bank accounts.
Back in the very early 60s developers were building all electric houses. That was to control who could purchase .
FHA required all utilities, and most blacks could not get a conventional loan.
Solely determined by defaults on the loans. Has nothing to do with race. Any buyer of any race in a redlined geographical area faces the same problem. Lenders either won't loan in that area, or if they do the interest rates are much higher to adjust for the known risk.
It would appear you have no clue what redlining is. Redline: to refuse (a loan or insurance) to someone because they live in an area deemed to be a poor financial risk.
Solely determined by defaults on the loans. Has nothing to do with race. Any buyer of any race in a redlined geographical area faces the same problem. Lenders either won't loan in that area, or if they do the interest rates are much higher to adjust for the known risk.
It would appear you have no clue what redlining is. Redline: to refuse (a loan or insurance) to someone because they live in an area deemed to be a poor financial risk.
Have you ever bothered to investigate how it got that way? Or are all blacks deadbeats?
Have you ever bothered to investigate how it got that way? Or are all blacks deadbeats?
Again, it's not about race. It's about known risk. Anyone of any race will face the same problems getting a loan in a redlined area.
As to how an area got to be redlined, or more specifically... Why are borrowers more likely to default in certain geographic areas? Why are prices falling in those areas (due to decreased demand)? Here's an interesting take on it from researchers at Northwestern U (particularly relevant as NU is located very close to the problem examined):
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The researchers’ goal was to look at how crime generates inequality.
“The ‘move’ was to go beyond does crime go ‘up or down,’ but rather how crime generates inequality,” Papachristos said.
"Our priority will be Black, Latino, Asian, and Native American owned small businesses, women-owned businesses, and finally having equal access to resources needed to reopen and rebuild.“
Why not just say “our priority is reopening businesses”?
What problem do you have with providing EQUAL access, which what your quote clearly states. EQUAL does not mean anyone loses, it just means disadvantaged groups now have the same access.
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