Thread: Obama’s house of cards

Obama’s house of cards

By PAUL SPERRY

Last Updated: 12:53 PM, July 22, 2012

Posted: 10:04 PM, July 21, 2012

With studies showing home foreclosures hitting blacks and Latinos hardest, the Obama administration’s answer is baffling as well as destructive — to lend them more money, repeating the cycle of easy credit that led to the housing boom and bust.

A new AARP report finds that even elderly minorities are facing serious mortgage delinquencies. Fifty-and-over African-Americans, for example, are almost twice as likely to lose their home as older whites.

“This crisis is far from over,” AARP policy chief Debra Whitman said. “We need to think about more creative solutions.”

President Obama’s solutions, however, look a lot like the original problems that landed minorities in the financial mess they’re in today.

Paul Sperry: By pushing bad loans in the name of 'diversity,' Obama's creating the mortgage crisis all over again - NYPOST.com

Democrats just go back the the only garbage they know, the same crap that got us into this mess in the first place. NOT EVERYBODY CAN AFFORD TO BUY A HOUSE! Anybody can, it just depends how hard your willing to work for it. I risked my life driving an Armored Car delivering money to banks and businesses to get mine and lost 3 good friends along the way. Some folks start a business and work 16 hours a day till it's sucessful. Others work two or three jobs to get there. When I was growing up and I wanted something, my Dad always used to say to me "How hard are you willing to work to get it? Are you willing to sweat for it....are you willing to bleed for it?"

When I was 11 years old my Dad took me to a large empty parking lot with the car and taught me to drive. You can't imagine how excited I was. On the way home I told him, I can't wait to turn 16 and get my drivers license. He looked at me and said "and do what? I'm not buying you a car and you sure as hell aren't driving mine. You've got 5 years to figure out how to make enough money to buy your own or you'll be riding your bicycle back and forth to your first job till you have the money." I thought he was the meanest SOB on the face of the Earth. I cut lawns (6 a week), shoveled snow and raked leaves till I bought my first car (1974) at age 15, right out from under his ass while he was trying to get a better price from the seller. While he was trying to play for a better price, looking the car over again, I paid the owner a $50 deposit on the $260 for the 1967 Chevy. When my Dad found out he acted like the MAN that he was and said "Very good, let's go get your Mom, go to your bank and get the man the rest of his money so we can take it home." The day I turned 16 and got my drivers license, that '67 Chevy sported a rebuilt motor, new paint job, fancy wheels (Cragar Mag Wheels) and a great stereo. I did that ALL myself.

Parents, it's your job to prepare your kids to make their own way in the world, NOT hand them everything till you die and they don't know how to do it on their own. Learning later on in life usually results in disaster. My home was paid off years BEFORE the crash. I have no mortgage to worry about. Just taxes, insurance and utilities, so even on my Obamanomics part time job I can make ends meet easily. Growing up the way I did I thought this was fundamental, I guess NOT!