Dog Brothers Public Forum
Return To Homepage
Welcome, Guest. Please login or register.
September 22, 2014, 03:11:40 AM

Login with username, password and session length
Search:     Advanced search
Welcome to the Dog Brothers Public Forum.
82568 Posts in 2250 Topics by 1062 Members
Latest Member: seawolfpack5
* Home Help Search Login Register
+  Dog Brothers Public Forum
|-+  Politics, Religion, Science, Culture and Humanities
| |-+  Politics & Religion
| | |-+  The Race-baiting Industrial Complex
« previous next »
Pages: [1] Print
Author Topic: The Race-baiting Industrial Complex  (Read 1421 times)
G M
Power User
***
Posts: 12042


« on: September 03, 2010, 02:10:26 PM »

Jesse Jackson, Al Sharpton, Louis Farrakhan, Obama's Rev. Wright. The NAACP and similar groups.

Allegedly advocates for minorities, the are big businesses, and real progress for minorities is the last thing they want.
« Last Edit: August 31, 2011, 08:11:07 AM by Crafty_Dog » Logged
G M
Power User
***
Posts: 12042


« Reply #1 on: September 03, 2010, 02:11:24 PM »

http://www.detnews.com/article/20100903/MIVIEW/100903001/1467/opinion01/Payne--The-irony-of-Jesse-Jackson-s-stripped-SUV

Classic "Do as I say, not as I do" of the left.
Logged
Body-by-Guinness
Power User
***
Posts: 2788


« Reply #2 on: September 03, 2010, 09:49:58 PM »

Dude, great term. Yours?
Logged
G M
Power User
***
Posts: 12042


« Reply #3 on: September 03, 2010, 09:51:03 PM »

Yup.
Logged
G M
Power User
***
Posts: 12042


« Reply #4 on: September 03, 2010, 09:57:03 PM »

"Racial Industrial Complex" flows better, but seems less clear.
Logged
Body-by-Guinness
Power User
***
Posts: 2788


« Reply #5 on: September 04, 2010, 12:34:36 AM »

Race Card Industrial Complex?
Logged
Body-by-Guinness
Power User
***
Posts: 2788


« Reply #6 on: September 04, 2010, 11:52:32 AM »

Ambrose Bierce once defined "piracy" as "commerce without its follyswaddles, just as God intended it." Think the good Reverend got his follies swaddled here:

Jesse Jackson's tough day in Detroit

Phil Boehmke
Last Saturday while hundreds of thousands of our fellow Americans joined Glenn Beck in Washington D.C. for his ‘Restoring Honor Rally,' Jesse Jackson was in Detroit to march for ‘Jobs, Justice and Peace.' In his pre-march article for the Detroit Free Press Rev. Jackson said.

On Aug. 28, 1963, Dr. Martin Luther King led the March on Washington, with the vital support of United Auto Workers President Walter Reuther. This year on Aug 28, the Rainbow PUSH Coalition will join UAW President Bob King and congressional, civil rights and union leaders to lead a March in Detroit for Jobs, Justice and Peace.

The march in Detroit called attention to the plight of the working class who have "borne the brunt of the Great Recession." Unaware of the enormous success of Barack Obama's brilliant economic policies which have been acclaimed by BHO himself and Joe Biden during the "Summer of Recovery" tour, Rev Jackson touted grim unemployment numbers and stirred populist anger over bank bailouts and corporate greed.

We come together to unite across racial and ethnic battlegrounds to find economic common ground. We need policies that put people to work by rebuilding the foundations vital to our economy and by reviving American manufacturing. This can be done by moving to clean energy and weatherizing apartment buildings and homes to save electricity.

Rev. Jackson's march drew several thousand people to downtown Detroit. Although there are no official crowd totals, it is believed that there were more people at the ‘Jobs, Justice and Peace' march in Detroit than were in Washington D.C. for Rev. Sharpton's event. On the other hand, Rev. Jackson's march was dwarfed by last Octobers huge turnout for the "Homeless Prevention and Rapid Re-Housing" program, which was fueled by rumors of a payout of $3,000 in stimulus money (known locally as ObamaCash).

The Detroit News reports that in promoting the march, Rev. Jackson wrote that "Home-grown American labor will be installing windmills and solar panels. A green economy is not an abstract concept." Oblivious of the actual cost in terms of federal subsidies and the loss of good paying jobs in the real energy sector, Jackson continued.

"Even now, the only sector of the economy that has seen job growth during the recession is the green job sector. Time is of the essence."

While Rev. Jackson was busy marching and telling his "green jobs" fairy tale, he was also contributing to the local economy in a very personal way. The good Reverend's fuel-efficient and environmentally friendly Cadillac Escalade was stolen by local entrepreneurs who removed the wheels from the luxury SUV, no doubt for resale at some future date. This may not qualify as a job created, but there can be no question that lives were touched. Now that's stimulus you can believe in!


paboehmke@yahoo.com
 
 
 
http://www.americanthinker.com/blog/2010/09/jesse_jacksons_tough_day_in_de.html
Logged
Crafty_Dog
Administrator
Power User
*****
Posts: 31260


« Reply #7 on: August 18, 2011, 02:26:02 PM »


http://www.theblaze.com/stories/allen-west-im-here-to-lead-blacks-off-the-democratic-party-plantation/
Logged
Crafty_Dog
Administrator
Power User
*****
Posts: 31260


« Reply #8 on: August 25, 2011, 01:58:52 PM »

http://yidwithlid.blogspot.com/2011/08/august-1991-crown-heights-pogrom-what.html
 

Monday, August 15, 2011
The Crown Heights Riot, 20 Years Ago This Week, The True Story That's Never Told
Twenty years ago a tragic car accident in Crown Heights Brooklyn escalated into a pogrom against the Jewish people.  The media gives it a politically correct description, violence between the area's Blacks and Jews. However the violence was not two-sided. The Crown Heights riot was an attack on the Jews by the neighborhood's Caribbean community fueled in part by Al Sharpton, now an MSNBC host and adviser to President Obama.




The events beginning August 19, 1991 were whitewashed by the media and political spin-masters.  The below is what really happened, without the myths or the spin.


Black Antisemitism-Summer of 1991
 On July 20, 1991, Leonard Jeffries of City College who had a history of anti-Semitic slurs gave a two hour speech claiming “rich Jews" financed the slave trade, and control the film industry (together with Italian mafia), the Jews use that control to paint a brutal stereotype of blacks. Jeffries also attacked Diane Ravitch, (Assistant Secretary of Education) calling her a "sophisticated Texas Jew," "a debonair racist" and "Miss Daisy.


Jeffries’ speech received enormous negative press during the first weeks of August. With each criticism leaders in the African-American community rushed to Jeffries' defense.  Black newspapers in NYC and the black radio station WLIB, already a forum for anti-Semitic rants; joined black activists such Al Sharpton, Colin Moore, C. Vernon Mason, Sonny Carson, and Lenora Fulani expressing their approval of Jeffries’s “scholarship” and denouncing  people who criticized his Antisemitism as race baiters.


Al Sharpton’s infamous line, “If the Jews want to get it on, tell them to pin their yarmulkes back and come over to my house" wasn’t a response to the Crown Heights violence as typically stated, but about the Jeffries controversy. It was reported Newsday (in an article called "Sharpton Calls for a Boycott of Classes.") on August 18th the day before the riots.


Initially, Jeffries was fired because of his bigoted speech (he was later reinstated and won a court case surrounding his firing), leading to heightened resentment of Jews by a Black community already being barraged with anti-Jewish incitement from the African-American media.


Crown Heights Ignited
On Monday 8/19/91 a station wagon driven by Yosef Lifsh, hit another car and bounced onto the sidewalk at 8:21 p.m. The station wagon was part of a 3-car motorcade carrying the Lubavitcher Rebbe Menachem Schneerson. The Rebbe was in a different car.


The station wagon struck two black children, 7-year-old cousins Gavin and Angela Cato who were on the sidewalk. Lifsh immediately got out of his car and tried to help the children gathering crowd started to attack him.


Within minutes, an ambulance from the Hasidic-run ambulance service, and two from the city's Emergency Medical Service arrived. Also the gathering crowd became unruly.  The police who showed up radioed for backup reporting the station wagon’s driver and passengers were being assaulted. Police officer Nona Capace ordered the Hasidic ambulance to remove the battered Yosef Lifsh, and his passenger from the scene.


The injured children went by separate city ambulances to Kings County Hospital. Gavin Cato was pronounced dead; his cousin survived.




A rumor spread that the Hasidic ambulance crew had ignored the dying black child in favor of treating the Jewish men. This falsehood was later used by Al Sharpton to incite the crowd.


Charles Price, an area resident who had come to the scene of the accident, incited the masses with claims that, "The Jews get everything they want. They're killing our children." Price later pled guilty for inciting the crowd to murder Yankel Rosenbaum.


According to the New York Times, more than 250 neighborhood residents, mostly black teenagers, many of whom were shouting "Jews! Jews! Jews!"




A rumor spread that Lifsh was intoxicated. A breath alcohol test administered by the police proved his sobriety. Other falsehoods were circulated; Lifsh did not have a valid driver's license, the police prevented people including Gavin Cato's father, from assisting in the rescue.


Ignited by the falsehoods, resentment exploded into violence. Groups of young black men threw rocks, bottles and debris at police, residents and homes.


Three hours after the tragic crash, 29-year-old Australian Jewish scholar Yankel Rosenbaum was attacked by a gang of Black teens. He was stabbed four times. Cops quickly arrested Lemrick Nelson, who was identified by Rosenbaum as his attacker.


Rosenbaum's wounds were not fatal he was expected to recover, Mayor Dinkins visited Rosenbaum at the hospital. Yankel died at 2:30am Tuesday because the hospital staff missed one of his knife wounds.


The next evening, according to the sworn testimony of Efraim Lipkind, a former Hasidic resident of Crown Heights, Sharpton started agitating the crowd.
“Then we had a famous man, Al Sharpton, who came down, and he said Tuesday night, kill the Jews, two times. I heard him, and he started to lead a charge across the street to Utica.”
With each passing hour the violence worsened, Jewish leaders began to desperately complain about the lack of protection to the authorities. They said, the rioters were being allowed to rampage unchecked, too little force was being brought to bear, and too few arrests were being made. Area Jews felt the police were under orders to hold back, that the police were cowering in the face of rioters who only grew wilder as they sense the appeasement.


The campaign of street violence against the Crown Heights Jews lasted for three days/four nights after the accident.  On Thursday, cops finally restored order.  Although the continual violence was stopped, spurts of against Jews continued for weeks after the riot was deemed contained.


Yankel Rosenbaum wasn't the only person murdered by the rioters. On September 5th, Italian-American, Anthony Graziosi, was dragged out of his car, brutally beaten and stabbed to death because his full beard and dark clothing caused him to be mistaken for a Hasidic Jew.


Time Magazine reported that New York City Mayor David Dinkins responded by deploying 2,000 police officers and making a personal visit to the troubled neighborhood under a hail of rocks and epithets hurled at him by fellow blacks.
During the funeral of Gavin Cato on August 26th, Al Sharpton gave an anti-Semitic eulogy, which fueled the fires of hatred.
 “The world will tell us he was killed by accident. Yes, it was a social accident. ... It's an accident to allow an apartheid ambulance service in the middle of Crown Heights. ... Talk about how Oppenheimer in South Africa sends diamonds straight to Tel Aviv and deals with the diamond merchants right here in Crown Heights. The issue is not anti-Semitism; the issue is apartheid. ... All we want to say is what Jesus said: If you offend one of these little ones, you got to pay for it. No compromise, no meetings, no kaffe klatsch, no skinnin' and grinnin'. Pay for your deeds."
 Regarding the Mayor's call for peace Sharpton pontificated:




        "They don't want peace, they want quiet."


Sharpton and the lawyer representing the Cato family counseled them not to cooperate with authorities in the investigation and demanded a special prosecutor be named.


Sharpton was asked about the violence, he justified it, “We must not reprimand our children for outrage, when it is the outrage that was put in them by an oppressive system," he said.


The first Sabbath after the riot was over Sharpton tried unsuccessfully to kick up tensions again by marching 400 protesters in front of the Lubavitch of Crown Heights shouting “No Justice, No Peace."




Sharpton called for the arrest of Lifsh. Even though more than twenty similarly accidental vehicular deaths had occurred in Brooklyn since 1989 without a single arrest several involving local Hasidim run down by blacks.  The agitator’s pressure led Charles Hynes, the Brooklyn district attorney, into convening a grand jury.


When the investigation of the accident did not produce a criminal indictment against Yosef Lifsh, Al Sharpton encouraged the Cato family to seek big-bucks damages in a civil suit against Lifsh (who had since fled to Israel for his own safety). Sharpton announced that he would personally serve papers on Yosef Lifsh in Israel. He bought tickets and hopped an El-Al flight on the weekend of Yom Kippur. At Ben Gurion Airport, a woman spotted Sharpton hailing a cab and yelled to him, "Go to hell! “I am in hell already," shot back. "I am in Israel."









The Aftermath
Sharpton abandoned Crown Heights as soon as the anti-Semitic violence had died down. Sadly had he not exploited the death of Gavin Cato for his own “resume”, what was by all accounts, a disorganized group of ruffians the first night of the riot might well have dissipated the morning after the accident.


There were no reports during the three days and four nights of rioting in Crown Heights, and the marches that followed, that any black leader, stood up to denounce the  Antisemitism or the violence of  the rioters, not even the even the ones who professed to be clergymen.


The violence was one-sided a rampage by some of the neighborhood’s 180,000 strong black majority against a Jewish minority of 20,000. 


The preferred media explanation was the Crown Heights riot was two-sided, both blacks and Jews were equal in their violence.


Maybe the media sugarcoats the riot because it was unprecedented in American history.  Perhaps it is impossible for the liberal psyche to perceive blacks as purveyors of bigotry, instead of being the victims of hate.


Complicating the issue at the time was just five months earlier the infamous Rodney King beating occurred. This act of police brutality against the African American King was repeated ad nauseum on TV.


After the King case, who could believe that blacks in America could ever take over the role of racists, but that is what happened, blacks were shouting anti-Semitic slogans, and explicitly proclaiming themselves to be the reincarnations of Hitler, they sought to destroy and/or drive out their Jewish neighbors by force.


The deaths of Gavin Cato and Yankel Rosenbaum are viewed as some sort of a" tit for tat." This is a misrepresentation of the facts. Cato's death was the result of a tragic accident; Rosenbaum was deliberately stabbed four times by an angry mob. Sadly Anthony Graziosi's death has been forgotten.


Many in the Jewish community felt the city's first Black Mayor, David Dinkins was complacent in the violence, holding back the police from protecting the Jewish community, but that has never been proved.


What’s more likely is that lack of police action was caused by Dinkins' incompetence instead of a conscious decision to allow the violence against the Jewish community to continue.


Nevertheless the pogrom dealt a death blow to Dinkins' mayoral career. Jews had voted for him in overwhelming numbers to give him a narrow victory over Rudy Giuliani in 1989, switched sides, giving Giuliani the win against Dinkins in 1993.


To this day, the media refuses to acknowledge that African-Americans can be racists, and Antisemitism is still ignored by the media. News networks invite anti-Semitic representatives of CAIR or former CIA agent Michael Scheuer to participate on their programs as experts, but these same “experts” contend that American Jews run the media and the Government. Huffington Post regularly allows Media Matters’ MJ Rosenberg on their front page where he too uses anti-Semitic stereotypes.


As for Al Sharpton, he went on to lead a second pogrom, against a Jewish-owned business in Harlem. I suppose it was his experience in leading two anti-Semitic pogroms that gave Sharpton the expertise he needed to be an adviser to the first "post-racial "President, Barack Obama and the latest evening anchor for MSNBC. Sharpton's rise to respectability proves how little has been learned from the Crown Heights anti-Jewish violence which took place twenty years ago.
--
People will do anything for those who: encourage their dreams, justify their failures, allay their fears, confirm their suspicions, and help them throw rocks at their enemies. It doesn't have to be true to rile people up. It just has to do at least one or two of the above." -- Blair Warren
Logged
Crafty_Dog
Administrator
Power User
*****
Posts: 31260


« Reply #9 on: August 30, 2011, 08:24:01 AM »

Very long and I have not read it all, but it comes recommended and seems promising:

http://www.discoverthenetworks.org/viewSubCategory.asp?id=1258&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+fpmdtn+%28FrontPage+Magazine+%C2%BB+Discover+the+Networks%29
Logged
ccp
Power User
***
Posts: 4090


« Reply #10 on: August 30, 2011, 12:09:23 PM »

I am not clear what Black caucus and leadership want Brock to do.  They want him to create jobs for Blacks?
Well it ain't going to happen by expanding big government and spending and taxing white boys.  They continuously shoot themselves in their feet.  Keep voting for endless doles.  Keep voting for a party that is allowing competition to come in to the country.

Are we ever going to have a Republican who can articulate this to Blacks?  Herman Cain, Michael Steele, have not been able to do this it seems.

***The face of the unemployed
Thousands of the unemployed came to a job fair in Miami Tuesday, August 23, 2011 sponsored by the Congressional Black Caucus.
Miami Herald Staff

U.S. Rep. Frederica Wilson speaks to job hunters at a job fair sponsored by the Congressional Black Caucus at the James L. Knight Center in downtown Miami Tuesday, August 23, 2011.
TIM CHAPMAN / MIAMI HERALD STAFF
By Patricia Mazzei
pmazzei@MiamiHerald.com
President Barack Obama could have a political problem with black voters in 2012.

Obama is still immensely popular with African Americans. But at a town hall-style meeting held in Miami Gardens this week, some black leaders and Democratic members of the Congressional Black Caucus said they are exasperated that the country’s first black president has not done more to address the needs of the black community — particularly its 16 percent unemployment rate.

“Can you say, ‘black’?” Rep. Maxine Waters of California snapped at Don Graves, the executive director of the President’s Council on Jobs and Competitiveness. He had told the crowd of hundreds at Mount Hermon AME Church that Obama is focused on helping every community, though “certain communities have been hit harder.”

The meeting Monday night, coupled with a jobs fair in downtown Miami on Tuesday, was part of a national, five-city tour intended to draw attention to hurting, urban communities and to connect employers to job-seekers.

The tour was a contrast to Obama’s bus trip last week when he ventured to rural areas in the Midwest before heading with his family to Martha’s Vineyard in Massachusetts for vacation.

The White House is expected to unveil a new jobs plan after Labor Day.

The tense moments at the meeting underscored an increasing cause of concern for Obama, who has argued that turning the economy around will help all communities. Some black leaders want the president to target aid directly to African Americans, who were crucial to Obama’s victory three years ago. In 2008, Obama won 96 percent of the vote from black women vote; 95 percent of black men.

But Obama is trying to appeal to independents and other voters across the political spectrum. And even if he does not champion African Americans as much as some black leaders hope, it is unlikely that black voters would vote against him.

Still, there is another possibility: that discouraged black voters stay home on Election Day next year, a particular worry for Democrats in swing states with sizable black populations — such as Florida, where about 13 percent of registered voters are black.

At the meeting, panelists acknowledged that blacks find it difficult to disagree with Obama or to say that they are disappointed with him because they fear their concerns will be misinterpreted as flagging support.

“We don’t want to talk about it, because we don’t want to come across as being critical of the president,” said the Rev. Victor Curry, president of the local NAACP. But African Americans, he said “should expect something from the man that’s getting 90 percent of their support.”

“President Obama needs us to hold him accountable as well,” Curry said. “We’re not blaming President Obama. We know what he inherited: He inherited a bad team.”

Rep. Frederica Wilson of Miami Gardens, who hosted the meeting and jobs fair, suggested Obama would be able to do more in a second term — and that things would be worse if a Republican were in the White House.

“The real enemy is the tea party — let’s remember that,” Wilson said. “The tea party holds Congress hostage…They have one goal in mind, and that’s to make President Obama a one-term president.”

Earlier, Waters, the California congresswoman, had gone after Graves, the Obama aide, when he said an obstacle to job creation is “folks who are going to stand in the way and block the legislation that the Congressional Black Caucus has proposed.”

“Say tea party,” Waters interrupted. “Say it!”

“It was tea-party Republicans,” a quiet Graves said.

The thorny politics, however, did not keep some 6,000 people from attending Tuesday’s job fair at the James L. Knight Center in downtown Miami. Entering the hall in orderly groups, the attendees shook hands and distributed résumés to recruiters from more than 120 companies and government agencies looking for new hires.

The going was tough, job-seekers said, because employers were directing them to apply to jobs online instead of taking down their information on the spot.

“I just don’t get responses,” said Michelle Gil, a 33-year-old from Kendall who has been looking for a marketing job for a year and a half. “I can’t get a job at Wal-Mart.”

Naomi Wright of Miami Gardens, who attended Monday’s meeting and Tuesday’s jobs fair, said she was disappointed that employers weren’t conducting interviews on site.

“It’s been difficult,” said Wright, who is African-American and has been unemployed for two years. “But I understand the president is in a very tough spot. I can’t say that he has not done enough.

“Just because we disagree does not mean we don’t support him and don’t respect him.”

Read more: http://www.miamiherald.com/2011/08/23/2371894/black-lawmakers-want-obama-to.html#ixzz1WX4cOadL***
Logged
Crafty_Dog
Administrator
Power User
*****
Posts: 31260


« Reply #11 on: August 31, 2011, 08:10:34 AM »



By MARY KISSEL
Talk about not learning from past mistakes: A government department is again intimidating banks into lending to minority borrowers at below-market rates, all in the name of combating "discrimination." Welcome to the next housing mess.

The 1990s may have brought us supercharged politicized lending, but Eric Holder's Department of Justice is taking the game to an entirely new level, and then some. The weapon is a "fair lending" unit created in early 2010, led by special counsel Eric Halperin and overseen by Civil Rights Division head Thomas Perez.

A sampling of Mr. Perez's thinking, from April 2010 congressional testimony: "The foreclosure crisis has touched virtually every community in this country, but it disproportionately touches communities of color, in particular African-Americans and Latinos." And: "[C]ross burnings are the most overt form of discrimination and bigotry. Lending discrimination is some of the most subtle. It's what I call discrimination with a smile."

Even for the Obama administration's antidiscrimination cops, this is a shocker: A political appointee who's supposed to neutrally enforce the law loosely equates bankers with Klu Klux Klan thugs. But let's move from what may be Mr. Perez's personal bias, and focus on the broader brush strokes of the Justice Department—which seem designed to paint bankers into a corner.

Lenders who discriminate on the basis of race and those who make decisions on the basis of credit scores are two entirely different animals. The former our society doesn't permit, for moral reasons; the latter we encourage because it's fundamental to capitalism. A lender will go bust if he can't distinguish between a risky loan and a good loan. Poor people aren't well-served by getting loans they can't afford.

Historically, fair-lending cases have fallen into roughly two categories: "price discrimination" cases, in which lenders are accused of charging minorities higher prices than other clients, and "red-lining" suits, in which they are accused of intentionally failing to serve minority communities. Sounds straightforward for those who seek to obey the law.

View Full Image

AFP/Getty Images
 
Assistant U.S. Attorney General Thomas Perez testifies before a Senate committee on civil rights, March 29.
.But not when Justice revives "disparate impact" theory: the idea that even if lenders don't actively discriminate, they can still be sued if the cumulative effect of their actions implies discrimination. The latter is usually "proved" through statistical analysis (and the old standard—discriminatory intent—is thrown out the window). The Bush administration largely declined to pursue these cases.

And for good reason. Consider two AIG subsidiaries that Justice alleged "failed to supervise or monitor brokers in setting broker fees" between 2003 and 2006, but that Justice didn't pursue aggressively until the Obama administration. The government claimed that, in aggregate, African-Americans were charged more than other ethnic groups. AIG settled in March 2010 while it was under federal ownership, and Mr. Perez gained a big legal stick in price-discrimination cases. Suddenly lenders may be held liable for other people's business practices, even if those business practices aren't individually discriminatory.

Justice is pushing the legal envelope on red-lining, too. In a July 1 letter to Cardinal Financial Corp., Justice contends that after the bank bought George Mason Mortgage in 2004, it "failed to serve predominantly black areas on an equal basis with predominantly white areas" by not opening branches in majority-black areas or engaging in "effective outreach activities." Justice wants the bank to add nine counties to the Federal Deposit Insurance Corp.-approved geographic area where Cardinal does business.

Related Video
 Editorial writer Mary Kissel on Japan's new Prime Minister Yoshihiko Noda.
..Never mind that the FDIC in the past gave kudos to Cardinal for its lending practices. Justice is now accusing Cardinal of failing to open branches and achieve racial loan quotas in counties that its federal regulator never before contended should be the focus of its lending. We won't know the full facts of this complaint unless it goes to court. But what Justice is up to sounds like the same government-directed, quota-based lending push that brought us the last housing boom and bust.

Many companies are simply rolling over and paying once they realize the extent of the possible PR horror show. "Banker" is a bad word in today's political environment. Small and midsize banks depend heavily on their reputation and community ties, and they can't afford to be labelled racist. Many can't afford prolonged legal cases either, and the mere prospect of fighting the feds is intimidating. Mr. Perez knows all this.

Justice is employing some unusual tactics, too, including asking banks to sign confidentiality agreements in certain circumstances. Independent Community Bankers of America chief lobbyist Camden Fine complained in a letter to Mr. Holder Monday about this practice and its "troubling lack of transparency," adding that it's hard for banks to "assess and refine" their practices if they don't know Justice's legal arguments.

But Justice is on a roll. In less than two years, the government has settled with AIG ($6.1 million), PrimeLending ($2 million), Midwest BankCentre ($1.5 million) and Citizens Republic Bancorp ($3.5 million), to name a few. More cases are in the hopper, and bigger banks are now in Justice's sights.

All of this may boost the standing of Messrs. Perez and Halperin in the Obama administration. It's less good for the rest of us. These settlements include requirements that banks lend to minorities at below-market rates and, in effect, dish out cash to politically favored "community groups." It's a good bet that many of these loans will eventually go bad.

The Justice Department—or the bank, with the long arm of Justice hanging over it—chooses where that money goes. A Michigan judge even went so far as to call one proposed settlement "extortion." He might be onto something.

Ms. Kissel is a member of the Journal's editorial board.

Logged
ccp
Power User
***
Posts: 4090


« Reply #12 on: August 31, 2011, 10:54:06 AM »

Kissel's article is depressing.

I have almost given up hope.

I still agree with Bob Grant and that it is already too late.

We both hope we are wrong but our guts tell us otherwise.

Your post on political rants showing the mindset of entitlement of that person is extraordinarily depressing.

Logged
Pages: [1] Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!