Racist Presidential candidate Micheal Bloomberg once blamed end of redlining as cause of 2008 financial Crisis.

[SugarNoodles]

That's going to mean little if this country adheres to a donor class of the affluent. I mean, look at how the media has gone crazy at Bernie being a potential frontrunner.

Boomberg's tactics in New York have yet to have been defeated. He literally paid positions of power to be silent with donations.

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And Bernie is winning the Primary with no corporate donors. There's a cultural shift happening that Bloomberg can't prevent with money

 

[Foffy]

And Bernie is winning the Primary with no corporate donors. There's a cultural shift happening that Bloomberg can't prevent with money

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I hope the DNC doesn't cave in a way that appears to cave to Bloomberg. That's my fear.

The irrationality of wanting to beat Trump at all costs is people already normalizing Bloomberg. Who, spoiler alert, is very much like Trump.

 

[Surfinn]

I'm sure this is only the beginning.

Fuck Bloomberg and anybody who defends this bigot

 

[PMS341]

I hope the DNC doesn't cave in a way that appears to cave to Bloomberg. That's my fear.

The irrationality of wanting to beat Trump at all costs is people already normalizing Bloomberg. Who, spoiler alert, is very much like Trump.

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The media benefits from a Trump presidency, as they have shown the past four years. If nominating another Trump with a fake D next to his name makes them feel better about themselves, they can continue to #Resist in peace while everyone else suffers.

 

[WedgeX]

I'm referring to this ad, which plays on tv all the time:

bloomberg obama ad - Search Videos

www.bing.com

If Obama's words are being doctored and taken out of context in this ad, then I apologize. I wouldn't have had any way of knowing that, though.

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Yeah, everyone is trying to use any nice things Obama's said about them to get people on their side. Which might be telling since all Obama says is that Bloomberg "is a leader" and worked on some bipartisan things - both pretty normal introductory or spirit-of-cooperation statements. Certainly not an endorsement, but looks like it's an effective ad by Bloomberg with people taking it as an endorsement.

 

[jviggy43]

Inflammatory OP title. Just because a person has done and said many destructive things based specifically on race or ethnicity doesn't mean they're racist. Just because describing the economic crisis by placing the blame on African Americans who were bankrupt because they were given predatory loans on purpose designed to default and create massive interest balloons doesn't make somebody a racist. The mere act of ordering armed police to arrest and detain innocent people based on their color or heritage does not make somebody racist.


Frankly I don't know why the OP hasn't been sanctioned and the thread title force-changed.

The Oxford English Dictionary and Merriam Webster both have the same, solitary definition of the word:



rac·ist
/ˈrāsəst/


noun

A person who openly admits in writing in very specifically delineated context, or directly claims to be Racist. Disambiguation ~ maybe Hitler. But only at the end with the Camps, not the Trains running on time and amazing speeches parts.

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Is this satire?

 

[PMS341]

Is this satire?

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I think it is very obviously so.

 

[Stinkles]

Is this satire?

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I'm not sure it could have been any more sarcastic. BUT we live in weird times. So it's also not impossible someone would type that with a straight face.

 

[jviggy43]

I'm not sure it could have been any more sarcastic. BUT we live in weird times. So it's also not impossible someone would type that with a straight face.

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2020 has already broke me so apologies i just wanted to make sure lol

 

[WedgeX]

Glad we have CityLab as part of the Atlantic, before it gets handed over to Bloomberg.

The facts of the financial crisis, however, don't fit an account that puts the blame on minority buyers or fair-lending reforms. More than half of the subprime mortgages originated between 1998 and 2006 were loans for refinancing, according to the National Community Reinvestment Coalition, a grassroots organization working to end discrimination in lending. Fewer than 10 percent of subprime loan originations went to first-time homebuyers.

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The foreclosure crisis dealt tremendous damage to black and Latino neighborhoods. But white investors were disproportionately responsible for foreclosures in minority neighborhoods, according to a 2011 paper from John Gilderbloom at the University of Louisville and Gregory Squires at George Washington University. Their research shows that, in Louisville, there were approximately 2,000 foreclosure sales each year in 2007 and 2008. This figure breaks down to roughly 39 foreclosures in black communities (measured as census tracts) compared to about 20 foreclosures in white communities. Yet on average, 15 of the foreclosures in black communities happened on properties owned by non-occupant white investors, while white communities saw on average just two foreclosures on investor properties.

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More than a decade out from the financial crisis, myths about its cause still endure. As do myths about work, welfare, safe neighborhoods, and credit risks. Wall Street is still susceptible to many of these myths. "The notion of the undeserving poor," says Connolly, "migrated directly into the notion of the undeserving buyer."

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What Mike Bloomberg Got Wrong About Redlining and the Financial Crisis

Comments about New Deal-era housing discrimination made by presidential candidate Michael Bloomberg echo a familiar narrative about minority homeowners.

www.citylab.com