Since this situation made national news some time ago, any logical person can assume that Obama is familiar with it. A logical person can also assume that Obama's minions received marching orders to assure that minorities don't pay higher interest rates than white folks, regardless of risk.
The color of the applicant should not be a consideration, but instead the evaluation should be strictly risk based. If risk is objectively evaluated, interest rates for the "average" black will be higher than that of the "average" white.
Giving a poor man the same interest rate that Bill Gates would receive is ludicrous and a recipe for disaster. The next thing you know, some folks will argue that lenders are issuing predatory loans..........as if the lender's objective is to increase loan defaults. Oh wait, this silly argument is already being made.
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Originally posted by: snidely333
And you assume Obama even knew about this? Lots of things go on in my 120 person company that I'm sure our CEO has no idea about nor does he want to know. He's busy enough with his own workload. I'm sure Obama is too busy to know everything that goes down in his administration. Now, of course, as the president, he's ultimately responsible for what goes on but do you think Obama should be personally held criminally liable if he had no knowledge of these actions? Or perhaps, at most, Obama said to his consumer watch-dogs, "see what you can do to get this settled quickly and out of court" Do you think Obama personally orchestrated the shake-down?
