The Beak believes in merit. All applicants for anything should be judged the basis of
individual merit. According to Communist clown Renegade Eye membership in a protected class should get special treatment and this is called "social engineering".
The banking industry did well for years with a simple formula of 20% down, rigid credit checks and sane mortgages. The question is what is housing? A right?, A comodity for investment? Far leftist Marxists of the Bolshevism by Marcuse victim rights angle have agitated for a loosening of these time tested formulas with disastrous results. The fact that there is a statistical anomaly in any factor does not infer adverse impact.Moreover, if these same Bolsheviks want to play this game then their exponential over representation in academia is probably a far better example of a number out of wack than racial numbers of mortgage acceptance rates.
The housing bubble was caused by many factors. The first was that housing prices could go up in a linear pattern unrelated to the actual market. All items have a value and buying something for 10000 with the expectation that in two years the rise
in value and potential profit from a resale will justify this overpricing does not work forever. Banks encouraged this by changing the rules and requiring smaller down payments and less rigid checks on credit and employment history. Added into this overall mess was an effort by some to guarantee a preset rate of minority approvals.
Lastly the mortgages were often resold and traded in the wild west financial derivatives market that was poorly understood by self proclaimed experts.
I do not nor have I ever believed in group rights. Group rights is a totalitarian concept pushed by communists and is antithetical to the American notion of individual
liberties and merit. Communist clowns interpret this preference for merit as coded racism.
Interestingly these are the same clowns that are experts in the use of codewords such
as zionist, neocon, Likudnik and so forth when they actually mean Jew. Moreover, we do not link to blogs highlighted by neonazi groups for their bigoted content unlike our hysterical accusers.
Merit is just common sense.