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View Diary: I voted Friday, and I'm still angry (134 comments)

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  •  And attempts to change the law in several states (4+ / 0-)

    in order to prevent, newly dispossessed homeowners from legally voting too. They didn't want people who had been foreclosed upon to be able to vote.

    Now there's something to stick in a pipe and smoke.

    "We will have a list of foreclosed homes and will make sure people aren't voting from those addresses," party chairman James Carabelli told Michigan Messenger in a telephone interview earlier this week. He said the local party wanted to make sure that proper electoral procedures were followed."
    If ever there was a smoking gun, pointing towards predatory lending to the blue collar, to minorities, etc., and the broad brushed attempt to disenfranchise those citizens while simultaneously making them homeless and jobless--Here it is!

    And that was back in 2008.

    •  Good God I never heard this before (1+ / 0-)
      Recommended by:

      it all fits together...

      "Politics is like driving. To go backward put it in R. To go forward put it in D."
      Election Day is TOMORROW. GOTFV and STFIL!

      by TrueBlueMajority on Mon Nov 05, 2012 at 08:23:13 AM PST

      [ Parent ]

      •  Predatory lending with ARM type loans was very (0+ / 0-)

        common in minority communities, it started after the Emancipation Proclamation. Many newly freed African American families tried to buy homes or buildings for businesses. It was common to put unreasonable terms on their loans, so that missed payments would result in foreclosure on the property.

        This served several purposes:
        1. It priced many out of property ownership
        2. When they did get a loan, they were likely to default, which meant the owner could potentially "Sell" the property over and over making interest on the sale as people defaulted under predatory terms.
        3. It made a minorities, esp African Americans look like high risk borrowers--basically setting them up for failure, and then labeling them as such as a whole group which in turn JUSTIFIED higher rates and more loan rejections.

        For a while we got this to stop. But the big lenders figured out that the only "real problem" with this practice was that they needed to expand their potential customer base. Why limit themselves to African Americans and Single Women when you can hit the entire category of Blue Collar and Poor and keep selling the same pieces of property over and over, holding out for a price hike when gentrification sets in, or whenever manufacturing might call for a rezone and a price hike too.

        When this was done, it also backs up this "Founding Father" bullshit about only wealthy, propertied Americans should vote, because look how irresponsible these people are, going for an ARM loan or refinancing to fix a house in dire need of repair while living on min wage and no healthcare!

        The nerve of some peasants!

        It also opened up communities for a land grab, without having to declare them blighted, though many would be now due to foreclosures and a lack of new buyers.

        And on top of getting years of payment +interest, + the property back, these lending institutions also get a bail out, while simultaneously attempting to rewrite our laws to suit their greed and their desire to disenfranchise the little people.

        Well Wonders Never Cease!

    •  FYI--this is but one example. This happened in (0+ / 0-)

      many states during the 2008 election. This was also an attempt by the GOP to "prevent voter fraud".

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