Affirmative action and the mortgage crisis

Four hundred firemen died attempting to rescue people on 9/11.  Not one “firefighter” died, for women do not fight fires.  It is not in their physique, nor their psychological nature to do so.

Obama and his wife are typical affirmative action blacks.  Michelle’s Princeton thesis is a whine about racial prejudice and is full of spelling and grammatical errors.   Obama got a degree from Columbia without even showing up.  Obama can read from a teleprompter very nicely – except when he runs into a long sentence.  Similarly, most blacks can sing and dance and play the guitar better than most whites.  But Obama never delivers a speech ex tempore or from brief notes, unlike Palin, while Palin never pauses at inappropriate points in the middle of reading a long sentence from a teleprompter, unlike Obama.

The collateralized debt obligations underlying the present crisis were structured into tranches so that the highest rated tranches could not go bad if the payer merely missed a few payments.  What caused the crisis is that on very large numbers of the underlying mortgages, no one made a single payment.  When we compare the default rate in a lily white suburb or exurb, with the default rate in a suburb or exurb where the majority are members of protected minority groups, we see the default rate in the protected minority suburb is twenty to sixty times higher, telling us why so many mortgages have never received a single mortgage payment

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