1. First off, why would a Democratic Congressman or any Democrat be stupid enough to appear on News for Dumb Fux? And why did they keep showing a clip of Obama? Because he is one of those scary dark-skinned folks. Welcome to Republikkkan World where the defeat of the Confederacy was just a temporary setback!

Spirit of '68 at 5:21AM on Sep 24th 2008

2. Ummmm, excuse me. He was not making the argument that minorities can't/won't pay back loans. He was pointing out that undue pressure was put on lenders to make loans to certain people with bad credit BECAUSE they were "minorities". You know, to "level the playing field". But since America (and white people in general)have a history of being "not nice" to people of color, the time has come to make loans to people of color regardless of their credit history. Don't get me wrong, Wall Street is full of disloyal robber-barons, but giving mortgage loans to minorities with bad credit: (1) Doesn't make up for slavery/evil white imperialism, and (2) Isn't fair to fiscally responsible Americans of any color. There!!!

RVaTrucker at 5:40AM on Sep 24th 2008

3. If you don't understand what he's saying than your even dumber than you look. Your taking one sentence out of context. You know what he meant by the earlier statements. Your just spreading your leftwing BS again. The democrats pushed for relaxing the loan requirements to allow loans for more risky individuals. Many of these individuals just happened to be minorities. And what caused the meltdown? The risky loans that were made and defaulted upon. This kind of reaction seriously calls your intellegence into question.

newcfam at 5:56AM on Sep 24th 2008

4. RVA Trucker and newcfam may think that Cavuto's remarks were not meant as an insult to minorities although I doubt it, but one thing is true. The lending practices employed were designed to get people to pay excessive fees and interest rates for their own profit. Assuming housing values continued to increase, those borrowers might have been able to refinance and the rate of return for the original lenders would have greatly increased. If the borrower failed to pay, then the lender would have a piece of real estate worth substantially more than the loan. This is why the mortgage bankers made loans to individuals regardless of their credit. (BTW, the same thing is routinely done in the auto industry.) Sadly for everyone, the real estate bubble burst. Cavuto is blaming the victims and not the real villians. Regardless of ethnicity or race, most people want homeownership. No one deserves to be exploited for that desire and that is what the mortgage banks did. So Cavuto should put the blame where it belongs. It is not the fault of the borrowers or the fault of lawmakers that said redlining is wrong and discriminatory.

JW Allen at 7:36AM on Sep 24th 2008

5. They did no such thing.

bob at 6:47AM on Sep 24th 2008

6. "No one deserves to be exploited for that desire and that is what the mortgage banks did. So Cavuto should put the blame where it belongs. It is not the fault of the borrowers or the fault of lawmakers that said redlining is wrong and discriminatory."

*****************

Actually, all three parties are at fault.

But in this country, we've pretty much done away with any sense of personal responsibility and we never EVER consider the possible negative consequences of feel-good legislation.

The mortgage industry is a money making machine. It doesn't operate under the guidance of moral principles. If you attempt inject a degree of morality into lending practices via legislation and that legislation creates a new avenue of profits, the industry will rush to that new avenue like water through a breech in a dam.

If you want a mortgage industry that watches out for the best interests of the uneducated borrower and doesn't exploit opportunities that arise as the unintended byproducts of do-gooder lawmaking, then you should be supporting the current government intervention and should be calling for more of the same.

bob at 7:15AM on Sep 24th 2008

7. 3. If you don't understand what he's saying than your even dumber than you look. Your taking one sentence out of context. You know what he meant by the earlier statements. Your just spreading your leftwing BS again. The democrats pushed for relaxing the loan requirements to allow loans for more risky individuals. Many of these individuals just happened to be minorities. And what caused the meltdown? The risky loans that were made and defaulted upon. This kind of reaction seriously calls your intellegence into question.
xxxx
Bullshit. It was the robber barons best friend, Mr Corporation in a suit George Bush, who pushed the whole ownership society BS. Remeber that? Didn't think so. BTW, no one and I mean no one forced the poor little robber barons to make sub-prime loans to anyone. They did so because they saw huge short term profits, which they thought they could reap while passing the risk off to other entities. In the short term they did so.
Now you're blaming democrats rather than the conservative businessmen who ran this little racket. Piss off, and I mean that in a nice way.

Tim at 7:27AM on Sep 24th 2008

8. Bob, only in America would someone call anti-discrimination laws "do-gooder lawmaking" while defending the corrupt practices of predatory lending. It is people like you that cry the loudest when you're are on the receiving end.

JW Allen at 10:51AM on Sep 24th 2008

9. "Bob, only in America would someone call anti-discrimination laws "do-gooder lawmaking" while defending the corrupt practices of predatory lending. It is people like you that cry the loudest when you're are on the receiving end."

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JW, I really shouldn't have to point this out, but if you go back and look at my post you'll see I've not defended the industry. Rather, I've described it for what it is.

Anti-discriminatory law-making (as you call it) of this nature is by definition do-gooder, feel-good legislation. It attempts to address perceived discrimination whether that's actually what's in play or not. It doesn't take into account the nature of the industry and the possible pitfalls that can result. In the long run, it has the opposite effect. As you're seeing now. It felt good to do something at the time and if the end result is negative, well then that's the fault of the regulated body exclusively, according to you.

You don't want to address personal responsibility or faulty legislation because it eats into your simplistic characterization of what's happening now as solely being the responsibility of a predatory industry. it's not.

I don't think anyone should be bailed out, lenders or borrowers. I fault any legislation, regardless of its origin or intent, that allows for a situation whereby the lender or borrower is able to eliminate some of the risk involved in taking out or making loans.

If the government feels that it needs to make low interest loans available to certain segments of the population that can't obtain them through normal channels, then it should set up it's own, independent loan agency and tax the rest of the populace accordingly to pay for it. Let's see how well that goes over.

bob at 8:43AM on Sep 24th 2008

10. Well, I don't know if he should have singled out "minorites" in his rant. I am black, but he didn't say black people, just minorites. Conversely, he didn't say anything about lending to people with bad credit. But why say minorities and not simply "risky" people? All colors have their fair share of bad credit. Heck, my mom has outstanding credit. He didn't say black, but he shouldn't have singled out minorities either. Did he mean to? I don't know, but I don't think it is something to get too worked up about. It is Fox we're talking about here.

La Toya Murphy at 10:21AM on Sep 24th 2008

11. I want the 4 minutes and 52 seconds of my life back that I spent watching and listening to your video. You remind me of Rush Limbaugh, fat, ugly, and merely a template of the far right (in your case the far left).
Cenk, if you want your opinions and arguments to be taken seriously, then stop being a template of the liberal left. I have no problems with people who are on the right, left, moderate etc., as long as they respect me and my own opinion(which they don't have to agree with). There are part of me that are conservative and parts that are liberal, but mostly I am pragmatic when it comes to political viewpoints.
However, people like you constantly disrespect your followers and opponents by merely spewing out the same song and dance everytime, and constantly taking things out of context when suited for your pre-determined viewpoint, or cherry-picking to convince others of your narrow proposition. You remind me of a broken record- try thinking for yourself once in a while Cenk. I know it might hurt, but its good for you. You provide the left with merely another lemming and give far right wing nutjobs another easy target to debunk.

Kila at 8:55AM on Sep 24th 2008

12. What's it like in looneyland Ana? It must be so muddled up there in your brain. You and Cenk and all you fools trying to find racism around every corner. Wow, what is it like to be insane? That might be a better blog subject for you dear.

Rogers at 8:58AM on Sep 24th 2008

13. OK..the young turks are obviously Young Jerks. trying to instigate racial hatred issues against Fox news and any other pro conservative organization.. Instead of looking at the real issues. Why we are having this problem to begin with. Bad loans to people who cannot or will not pay them back, speculators in the housinmg market and our own Democratic Congress who does nothing but continue to push their insane ideas of more government, no oversite and lets see how far we can ruin this country by giving away money and affecting our national security by preventing us from accessing our own natural resurces.

Young Jerks at it again !!.............hmmm lets see. Young turks, can they be minorities trying to influence the public by twisting what really is happening to meet their own sick agenda's. Oops.. did I say minority that must make me racist according to the young turks.

Regular Americans are really getting fed up with folks like the young turks creating all this insanity based on reverse racism and extreme liberals ideas.I told someone I will not vote for Obama, they told me I was a racist and you know what, they never even asked me what my views were or why I was not voting for Obama. They just told me I was racist. So that shows you the true extreme liberal mentality..( like the Yong Turks).
Only their way, only their kind of thinking...don't think for yourself.
By the way, I am a Democrat getting fed up with all this reverse racism.

Nuff Said !!

Stanley at 10:35AM on Sep 24th 2008

14. Cenk/Ana: Nice to see you guys "Pimping my Post"

This from Sept. 20th is posted under the illustrious 'Another Bush Brain Fart' blog:

3. President Bush sought stricter oversight and regulation of Fannie/Freddie as far back as 2001. Senator McCain co-sponsored a bill in 2005 and predicted the coming disaster almost to a tee in 2006.

Democrat resistance to properly regulating these failed institutions came from Senator Chris Dodd, Representative Barney Frank and the Congressional Black Caucus.

Fannie/Freddie has been a Democrat Cash Cow and Congressional Black Caucus wealth transfer machine for the past 15+ years. The Fannie/Freddie pressure that was placed on lending institutions to give NINJA loans to the Black and Latino community is that big secret that no one will bring to light. These loans are about 12% of the total mortgage market yet they account for over 60% of the foreclosures.

Barack Obama got his hand in the jar as well. With only 143 days of Senate service he secured the #2 spot on the list of Politicians that have been getting paid off by Fannie/Freddie since 1989. There's one for you Obama supporters that draw a blank when asked to name any of Barack's accomplishments.

Paul Sparcello at 9:35AM on Sep 20th 2008

Paul Sparcello at 9:52AM on Sep 24th 2008

15. Paul Sparcello -- Great job, but they won't "get" it. They are blinded by their ideology.

Cliff Mansfield at 10:18AM on Sep 24th 2008