Monday, September 19, 2011
"Minority home ownership efforts backfired, wiped out minority households' wealth"
People ARE finally writing about this; however, it's just not getting across.
Government CANNOT force ANYTHING to happen.
Maybe I should qualify that.
Government can DESTROY things in a heartbeat; however, creating positive social change (before it's time) is NOT something they have been proven competent at.
In fact, if you really think about it, most of the things they claim to fix are things they screwed up previously...
Government CANNOT force ANYTHING to happen.
Maybe I should qualify that.
Government can DESTROY things in a heartbeat; however, creating positive social change (before it's time) is NOT something they have been proven competent at.
In fact, if you really think about it, most of the things they claim to fix are things they screwed up previously...
Mike Thomas wrote this in his posting on the Orlando Sentinel website:
"Nearly 50 years after President Lyndon Johnson began the War on Poverty, we are as impoverished as ever.
There are various reasons. But a big one is this: The federal government turned home ownership into an affirmative-action program, complete with quotas. And a lot of people who had no business buying houses bought them and then lost them.
'As sad as it is to say, this began in the Clinton Administration as a response to the argument that the poor and minorities couldn't get credit and were being left out of the home-ownership dream,' says James Wright, a sociology professor at University of Central Florida. 'They couldn't meet credit requirements. There was a lot of pressure in progressive circles' to change those requirements."
