Some businesses, especially African-American businesses and small- to medium-size businesses, have been left behind in the wake of the financial crisis, leaving them vulnerable to foreclosures, said Mr. Taylor, the former Treasury chief. He said that when he first took office in 2007, the government offered no loan guarantees to minority businesses. By last year, for the first time, more than two-thirds of the programs’ recipients were black.
The problem is that there are no rules for lending in a system where no one pays anything up front until after the loan has been granted! Now there’s too much demand for the loans and banks, including the largest of them all, the Federal Reserve, get pushed into buying up more “fannie and alfianna” mortgage bonds and the big “national banks” get ready to pay out those bonds to all the homeowners.
And I guess because we’re stupid and not paying attention for a long time everyone is stupid. So while President Obama is encouraging all you folks who haven’t been paying attention to the foreclosure crisis to buy their stocks, the banks are trying to get us stupid using the government to pump them up with loans!