By Peter Schweizer
In Architects of break, manhattan occasions bestselling writer and conservative historian Peter Schweizer argues that the industrial problem was once brought on by liberals who used the ability of presidency to create a subprime personal loan bubble that has ravaged the worldwide financial system. Rebutting fees that the monetary cave in was once because of conservative deregulatory zeal, Schweizer, the writer of Do as I Say (Not as I Do): Profiles in Liberal Hypocrisy, indicates that it used to be truly the results of “do-good capitalism.”
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Additional info for Architects of Ruin: How Big Government Liberals Wrecked the Global Economy--and How They Will Do It Again If No One Stops Them
One of those inspired by Alinsky was a Chicago housewife named Gale Cincotta. Small and feisty, she first became active under the tutelage of an Alinsky disciple, Tom Gaudette. Cincotta in turn took up the cause of redlining and racial discrimination and made it her life’s work. Embracing Alinsky’s confrontational methods, she was once arrested for harassing an administrator at the Department of Housing and Urban Development (HUD) and physically threatened Chicago’s tough and imposing Mayor Richard Daley.
1 Two more rejected applicants soon joined the suit. Like Ms. Buycks-Roberson, they contended that they had been turned down not for financial reasons but because they were black. ” Therefore, they declared, this would be a class-action lawsuit. Claiming that Citibank had violated the Equal Credit Opportunity Act, the Fair Housing Act, and the Thirteenth Amendment (which had abolished slavery), Obama and his fellow attorneys demanded that Citibank pay actual damages, compensatory damages, punitive damages, and (of course) attorney’s fees.
This more than anything else explains discrepancies in lending: banks prefer to give loans to people who have a history of paying them back. 8 At least, that is how it used to be in an age of rational banking practices. But those facts have not gotten in the way of one of the most powerful movements in the history of American politics. Indeed, charges of redlining and racism have proven to be extremely potent weapons. Not only have they allowed liberals and left-wing activists to harass and intimidate political and business leaders, but more subtly and insidiously, they have allowed the Left to argue that unequal results in a wide range of areas—from lending and hiring to college admissions and civil service exams—are manifest proof of “unconscious” or “structural” racism.
Architects of Ruin: How Big Government Liberals Wrecked the Global Economy--and How They Will Do It Again If No One Stops Them by Peter Schweizer