Religion, Politics and World Events They make great dinner conversation, don't you think? plus Political Film

My boss is claiming Racism on big lenders holding back on Obama

Old 12-28-10, 11:57 AM
  #26  
Enormous Genitals
 
Bandoman's Avatar
 
Join Date: Oct 2000
Location: a small cottage on a cul de sac in the lower pits of hell.
Posts: 33,159
Re: My boss is claiming Racism on big lenders holding back on Obama

I have no doubt that the banking industry is just waiting for Sarah Palin to be President before saving our economy.
Bandoman is offline  
Old 12-28-10, 12:00 PM
  #27  
DVD Talk Legend
 
Join Date: Sep 2002
Location: Formerly known as "orangecrush18" - still legal though
Posts: 13,846
Re: My boss is claiming Racism on big lenders holding back on Obama

Originally Posted by Thor Simpson View Post
I think it could work out fine if you planned to stay in a place for 5 years and it was your only loan option. 50 years doesn't mean a 50 year commitment. Refinancing down the road may be a good plan as well. Obviously the goodness of it falls apart if the market tanks, but that's true of any mortgage. I'm not saying it a great idea, but if it gets you what you want (a place of your own) and you have a solid plan for your future, I wouldn't rule it out.
If the only way you can get what you want is to take out an (essentially) interest only loan, you need to reassess your priorities. That is a big IMO. You have to assume that your house will appreciate more than the closing costs and fees for both when you buy and sell in order to not lose money and that renting is more expensive than your mortgage + repairs. I am sure many people have made money doing this, but it is taking on a lot of risk.
orangecrush is offline  
Old 12-28-10, 12:18 PM
  #28  
DVD Talk Hero
 
Th0r S1mpson's Avatar
 
Join Date: Apr 1999
Location: Seattle, WA
Posts: 36,443
Re: My boss is claiming Racism on big lenders holding back on Obama

I'm not saying it's a smart way to make money. I don't think a home should be purchased to make money to begin with unless it's purely an investment.
Th0r S1mpson is offline  
Old 12-28-10, 02:55 PM
  #29  
Banned by request
 
Supermallet's Avatar
 
Join Date: Jun 2000
Location: Termite Terrace
Posts: 54,156
Re: My boss is claiming Racism on big lenders holding back on Obama

Originally Posted by Heat View Post
Ask him what show he was watching.

And point out that Obama really can't be the president since he wasn't born in the US.


Originally Posted by Thor Simpson View Post
It's true. The lack of a 50 year mortgage is the only thing keeping Obama from being the most popular President in the entire country.


Originally Posted by Sean O'Hara View Post
Kvrdave may be a slumlord, but he's not Bank of America.
I'm guessing Dave is hastily printing out a new set of business cards with that quote on them. Business will boom!
Supermallet is offline  
Old 12-28-10, 02:59 PM
  #30  
DVD Talk Gold Edition
 
Join Date: Jan 2003
Posts: 2,861
Re: My boss is claiming Racism on big lenders holding back on Obama

Originally Posted by Save Ferris View Post
His point is that it would get more people into homes and having something of their own, and that this would help the economy.
We increased home ownership rates in the years before the crash as well. A person owning a home is only helpful to them if they can actually afford that home. When you stretch what people can afford with new mortgage products, you are really hurting them in the long run, and hurting the economy in the long run for a short term gain in ownership rates.
msdmoney is offline  
Old 12-28-10, 03:32 PM
  #31  
DVD Talk Legend
 
Join Date: May 2006
Location: Conducting miss-aisle drills and listening to their rock n roll
Posts: 18,032
Re: My boss is claiming Racism on big lenders holding back on Obama

Your boss sounds like a real dumb shit. If what he said were true why would the bankers' motivation be racism? Wouldn't it be more likely that the banks were holding out for a Republican administration because they don't want a Democrat president to look good?

Second, the 50 year mortgage consipiracy is a shitty, non-sensical conspiracy. The conspiracy that holds more water is that we all know the banks have been given huge handouts/bailouts from the government but they've only been using it to shore up their reserves. The money was given to the banks in the hopes that they would begin lending it out and this would loosen up our constipated economy. Instead the banks have only used the money to shore up their reserves and they haven't been making the kind of venture capital investments, corporate loans, etc that it was hoped they would. There's a good conspiracy theory in THAT if you wanted to make one. Something like: THE BANKS ARE REFUSING TO USE THE BAIL OUT MONEY BECAUSE THEY KNOW IT WOULD FIX THE ECONOMY AND THEY DON'T WANT A BLACK DEMOCRAT TO GET CREDIT FOR FIXING IT.

Email that to your boss (but be sure to include the part where I said he was a dumb fuck.)

Last edited by Mabuse; 12-28-10 at 06:05 PM.
Mabuse is offline  
Old 12-29-10, 12:40 PM
  #32  
2017 TOTY Winner
Thread Starter
 
Save Ferris's Avatar
 
Join Date: Nov 2001
Posts: 13,578
Re: My boss is claiming Racism on big lenders holding back on Obama

He probably believes that last sentence as well. He had great hopes in Obama and to him, the problems ultimately lie with big banks or corporations. He does have some bad experiences with some genuine racially-based discrimination directed towards him from institutions of power so I'm sure that taints appearances as well.
Save Ferris is offline  
Old 12-29-10, 01:15 PM
  #33  
DVD Talk Legend
 
Join Date: May 2006
Location: Conducting miss-aisle drills and listening to their rock n roll
Posts: 18,032
Re: My boss is claiming Racism on big lenders holding back on Obama

Originally Posted by Save Ferris View Post
the problems ultimately lie with big banks or corporations.
A-ha! He blames the jews
Mabuse is offline  
Old 01-13-11, 01:33 AM
  #34  
Banned
 
Join Date: Feb 2002
Posts: 21,582
Re: My boss is claiming Racism on big lenders holding back on Obama

Of course it's racism.

Just ask Clarence Page, Cythia Tucker, Eugene Robinson, yada yada yada.

(Don't ask Juan Williams, though. We all know that he's just a houseboy who works for the white master)
creekdipper is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Thread Tools
Search this Thread

Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.