NAACP Files Lawsuit on Subprimes Used to Finance Blacks

Discussion in 'Politics' started by righteousdude2, Mar 14, 2009.

  1. righteousdude2

    righteousdude2
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    This will be an interesting suit to follow.

    http://www.pe.com/business/local/stories/PE_Biz_S_naacp14.40f21a3.html

    I'm not sure just what they hope to accomplish???? And, what about the whites and Mexicans and Asians that were steered to subprime loans? Do they not deserve a piece of this legal pie???

    As I said, this should be interesting to follow. If any one of you has additional info on this law suit, please feel free to share.

    Pastor Paul:type:
     
  2. LadyEagle

    LadyEagle
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    And what about women? I would think that would be a big issue because all of us women know we are taken advantage of out there in the big world, especially by auto mechanics, etc.....:type:
     
  3. righteousdude2

    righteousdude2
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    I am So Sorry

    I should never forget "women". Please forgive my error. The Naacp needs to include women, the disabled, and any other group of disadvantaged, unemplyed, underemployed, under-educated, un-educated folks.

    If you include one group you must include them all. That is what made America so great....
     
  4. JustChristian

    JustChristian
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    Anyone who was defrauded by subprime lenders has a right to sue for damages.
     
  5. canadyjd

    canadyjd
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    The only people "defrauded" by the subprime lenders are those who are paying taxes to bail out the banks, including freddie and fanny.

    Since the rich pay most of the taxes, I think the rich should be the ones allowed to sue and recover most of the damages.

    peace to you:praying:
     
  6. LadyEagle

    LadyEagle
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    See, you are correct. That is why the NAACP suit is faulty if they don't include everyone. It is a case of reverse discrimination again.
     
  7. targus

    targus
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    I do not believe that it is legal to ask a question concerning the race of the applicant on a mortgage application, so I am wondering how the NAACP determined that black applicants were three times more likely to be placed in subprime mortgages than whites with the same income and credit.

    I wonder if this isn't just a fishing expedition.

    Even if they gain access to the applications through a law suit if the race information isn't there it isn't there.

    Is this just intimidation to force the banks to rewrite mortgages for select minority groups at a more favorable rate and terms than others can obtain?
     
  8. rbell

    rbell
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    I don't understand. Who was forced to take a loan?

    Why didn't these people do what I did, and make sure they understood the terms and conditions? We hired a lawyer. We're not rich. They should have, too.

    People don't deserve damages for making dumb decisions.

    The only damages should be if there were outright fraud (that is, the lender did not do what the terms said they would).

    Yet another reason for folks to follow my example, and refuse to put your racial designation on any form. If forced to, put "other."
     

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