Investers Business Daily
The gangster government is forever finding new ways to subvert the system for their own greedy needs. While we are still reeling from a housing crash, record foreclosures, and millions of people who are under water on the purchase of their homes, ponder an uncertain future. You may have thought the people that helped cause the first crash would at least have the decency to steal away under the darkness of the media blackout about the real causes of the crash and keep their mouths shut, nope they are lining up for more.
Under a broad definition of racism the Dept of Selective Justice is going after (smaller) banks and threatening charges of racism, because they are not lending to minorities. Of course the banks whose balance sheets are still holding terrible losses aren't lending to Whites, Hispanics, or any one else for that matter. But the Justice Department has come up with theory — “disparate impact” — that holds that merely a difference in loan application outcomes is enough to prove racial discrimination.
Prosecutions have already generated more than $20 million in loan set-asides and other subsidies from banks that have settled out of court rather than battle the federal government and risk being branded racist. An additional 60 banks are under investigation, a DOJ spokeswoman says.
As part of settlement deals, prosecutors have required banks to sign “nondisclosure agreements” barring them from talking about the methods used to allege discrimination. Bank lawyers contend the prosecutors are trying to hide the shaky legal grounds on which the cases are built. Under this broad theory, banks have been accused of racism simply for failing to open branches or aggressively market mortgages in black neighborhoods — regardless of the demand for, or viability
Welcome to shakedown Chicago style from the gangster government.
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