People always get the wrong idea about this blog . . .
There's some failing politicians and their inexperienced and naive staff who've gone around town lying about the motivations for the mean-spirited (and hilarious) attacks from this blog.
I don't like the Mayor, but it's not personal . . . I didn't think he would do a good job because his campaign was based on silly promises that he soon forgot in the ruckus over his wife's feet and his own pathological stubborness. The fact that the Mayor takes my many (awesome) insults personally shows his inexperience and pettiness . . . Especially given that fact that I hear Kathryn Shields got a kick out of all of the several Jabba references I sent her way.
Anyhoo, the point here is that TKC has never tried to be influential . . . This blog simply seeks to entertain and kick a little knowledge and science along the way. To describe this blog as "Infotainment" is generous.
As far as the worldview of this blog:
On this last topic there's always been a bit of friction between TKC and the blogosphere especially given that the Internet is home to so much hate.
Still, thanks to the Internets it's also easy for people to generate their own misguided opinions and publish them to the world . . . People accuse TKC of this all the time despite the FACT that a great many news stories people see in the big media STARTED a few days earlier on this blog. Nevertheless, I've been wrong on a few rare occasions . . . I know because years later d-bags still remind me of it.
In turn (and to make this mini-confessional a bit more interesting), I thought it was my duty (heh, duty) to call out a fellow blogger on misinformation that he has been spreading on the local Interents.
Since the implosion of the World Economy, the mortgage crisis and The Stock Market Collapse . . . A blog Called The Kansas Citian has been attempting to blame the whole thing on illegal immigrants i.e. Mexicans. It's a tactic that defies reason or logic and I've rather liked his weird-ass theories in much the same way that every actor who has ever been in a movie can be connected to Kevin Bacon.
His latest post was the kicker for me . . . It actually provided a link and claimed a government source!!!
HUD: Mortgage Crisis Linked to Illegal ImmigrantsSounds scary doesn't it? Almost as bad as interracial dating or David Cook's music.
The U.S. Department of Housing and Urban Development (HUD) confirmed the subprime mortgage crisis' link to illegal immigration. HUD is reporting that more than five million fraudulent home mortgages were taken out by illegal immigrants.
Unfortunately . . .
HUD HAS GONE ON RECORD DENYING THE INTERNET RUMOR AND DISCREDITING THE DRUDGE REPORT, RUSH LIMBAUGH AND OTHER REACTIONARIES WHO BELIEVE EVERY BIT OF GARBAGE PUBLISHED ON THE INTERNETS!!!
I've found a working link and a bit of the story:
HUD cries foul over illegal immigrant mortgage dataSadly, the lesson for the day is . . . Baseless Internet rumors are bad . . . Google is good!!!
The U.S. Department of Housing & Urban Development says there is no basis to news reports that more than 5 million bad mortgages are held by illegal immigrants.
A HUD spokesman said Thursday his agency has no data showing the number of illegal immigrants holding foreclosed or bad mortgages.
But news reports, including one aired on KFYI-AM 550 in Phoenix, cite HUD as a source for the illegal immigrant mortgage number. The widely read “Drudge Report” posted a link to the KFYI report, but as of Thursday afternoon the link no longer connected to the story.
Unfortunately, this doesn't bode will for TKC because rumors, gossip, dirt and chatter are what my blog is all about . . . But on the other hand, TKC is only out to give politicos, journalists and public figures a hard time and not get anyone deported. There's a school of thought that says that a lack of credibility among bloggers will be the downfall of this media platform . . . Fortunately, TKC is about half naked white women and not the esteem of folks working in the dead tree media who clearly have never, ever, ever made a mistake.
Still, I've always noted that the most important opinion someone can take from this blog is the one that they've formed for themselves . . . Looking for facts (or even worse, truth) from any media outlet is probably a mistake . . . TKC is mostly about gossipy, political, local chatty fun . . . With just a bit of fact checking from time to time.
so it was mexicans what ruined the economy? bastids!
ReplyDeleteDayum.
ReplyDeleteA tony, your own links just proves the point of an investigation being needed:
ReplyDelete"A HUD spokesman said Thursday his agency has no data showing the number of illegal immigrants holding foreclosed or bad mortgages"
Why does HUD not have numbers on this? It's easy to find. SSN verification, citizenship status, etc., etc.
The so called rumors you are talking about came from a news radio station. The article was pulled because of the massive traffic explosion. You can read the original article on my blog by clicking on the google cache link.
The evidence is clear Tony. The changes Clinton and the Dems made to the CRA forced banks to loan money to people who couldn't afford the loans. This was compounded by the fact that illegal immigrants (not all Mexicans are illegal immigrants Tony, like the ones in my family) have no need to worry about walking away from their mortgage because they have no credit history to worry about. They can pick a new home, name, and stolen SSN at will just as the do when they get hired at Buffalo Wild Wings or Bordner Roofing.
Tony,
ReplyDeleteI've done a little digging myself. You should have dug a little harder yourself. You would have found the so-called "spokesperson" from HUD quoted in the Phoenix Business Journal article probably was anything but.
http://thekansascitian.blogspot.com/2008/10/hud-denies-illegal-immigrant-data.html
Hey, James has time to sit around and make up news stories all day.
ReplyDeleteHe should work for The Onion.
I love that "forced banks to make loans". HAHAHAHAHHSAHAHAHAHAHAHAHAHAH
ReplyDeleteTony, HUD might have denied that story from yesterday, but what about this one from last year in the Denver Post? In it the Denver Post says:
ReplyDelete"The perpetrators told investigators - and prosecutors agree - that the fraudulent tactics used to sell homes out of one Jefferson County real estate office were widespread in the Denver area. One government source estimates 20,000 illegal immigrants hold FHA-insured loans in metro Denver alone."
That's 20,000 illegals with FHA insured loans in Denver alone! Bottom line to suggest that illegals are not involved with the mortgage mess is not very honest.
Sorry, here is the link to the Denver Post story.
ReplyDeletehttp://www.denverpost.com/search/ci_4228048
"I love that "forced banks to make loans". HAHAHAHAHHSAHAHAHAHAHAHAHAHAH"
ReplyDeletehes right, dingleberry.
the CRA was modified in 95 to require banks to loan to people who had no or bad credit and no or insufficient income levels in order for the bank achieve a decent CRA rating which is required for banks to borrow money. look it up
"That's probably a pretty good guess," said Jefferson County District Attorney Scott Storey
ReplyDeleteA guess.
1:25 - A guess from convicted perp is not a verifiable fact or figure.
In a Bank for International Settlements ("BIS") working paper, economist Luci Ellis concluded that "there is no evidence that the Community Reinvestment Act was responsible for encouraging the subprime lending boom and subsequent housing bust," relying partly on evidence that the housing bust has been a largely exurban event.
ReplyDeleteTranslation: The mortgage crisis was mostly due to people not being able to pay for their McMansions.
'A HUD spokesman said Thursday his agency has no data showing the number of illegal immigrants holding foreclosed or bad mortgages.'
ReplyDeleteHUD has good data on people that live beneath their radar.
Pssht, please...
Illegal beaners are a drain on our economy and way of life. It's an illegal invasion that our country continues to ignore. Tell me what other country would allow an invasion like this without taking punative action?
ReplyDeleteInvade them, (shouldn't be hard, just do it during siesta) take them over and tax them.
It's as simple as that.
The banks were not forced to make loans to people who could not afford them. The banks were required to make a certain amount of loans to people who were normally denied loans for various reasons -- but they were not required to talk these people into buying a house worth three times what they could afford, nor were they required to put false information onto loan applications to make the applicant appear more solvent than they were, nor were they required to bundle the mortgages and trade them like stocks. In short, nobody passed a law that lenders had to be greedy assholes.
ReplyDeleteIllegal Immigrants Good Mortgage Risk
ReplyDeletehttp://www.npr.org/templates/story/story.php?storyId=17597739
NPr, puhlease!
ReplyDeleteFirst, they are talking about ITIN loans. If an illegal is going to go to the effor to get an ITIN, very few do, then it stands to reason they will probabaly pay.
The issue is with the ones that lie, cheat, and steal to get a loan. Then walk away when it is foreclosed.
Banks were forced to make loans to people who did not have the economic means to do so. ACORN was paid on every loan given, as much as $500 to someone who couldn't afford it.
Fannie and freddie then insured these loans, which is why banks bundled them.
There is all the eveidence in the world to suggest the CRA had everything to do with it and the few that say it didn't conveniently forget the changes Clinton made to it 1995 which created the quota system that now requires banks to lend 39% of their home loans to people based solely on the color of their skin and not on their ability to pay.
get the fucking facts socialist d-bags
And just how many subprime loans that tanked were made under CRA? Remember that CRA only covers banks and lenders that are "federally insured" (a fact by the way) but it does not apply to independent mortgage companies. Who was forcing those lenders to make risky loans? How many did they make? Was it more than CRA motivated lending? Perhaps TWICE as much? Are those the facts you are talking about?
ReplyDeleteIf Clinton made these HORRIBLE changes in 1995 why didn't Bush and the Republicans change them when they got into office?
ReplyDeleteSeeeee.... we should have deported Tony's grandmother when we had the chance... One illegal mexican multiplied to millions in just two generations.
ReplyDeleteTony - "HUD HAS WENT ON RECORD" -
ReplyDelete"has went"? really?
come on, dude. grammar check.
What are you talking about?
ReplyDeleteIt reads "Has gone"
If your fucking ignorant racists are going to criticize Tony, at least get your facts straight.
Obviously Tony changed the text without acknowledging the correction dipshit. Just like any liberal, he switches the facts when he doesn't like them.
ReplyDeleteI came across an online community for individual seeking interracial love. It is ++++((((---Blackwhitemeet. C O M))))++++ All singles there are seeking interracial relationships. Interracial is not a problem here, but a great merit to cherish!
ReplyDeleteCry us a river grammar check, your diatribe doesn't follow facts. Not that it ever gets in your way of blaming everyone else except where it belongs.
ReplyDeleteThere is enough blame to go around to everyone. But Wall Street invented highly specialized derivatives to cover risk. But in reality they were refined in the late 1990 to be insurance but avoided the term insurance to avoid regulation. It was just another scheme to make money. Did illegal mexicans take out ? Did Wall Street financial institutions create thse exotic schemes? Did foreighn banks play into this game knowing it was risky? Many more leading questions. But for here, lets say the answer is YES.
ReplyDeleteDid government fail at the congressional level, the presidential level and the regulatory level? The answer is YES. The excess were always out in plain sight.
The party is over, blaime them all. We chose risky methods to create economic stimulation and this is the price. Production of real goods and services was not a priority of the free market right in america. Selling goods we didn't even need twenty years ago was the economic engine. Party over. Markets need the heavy hand of regulators not the freehand of markets supporters.