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Deep State
Not Honored


Monday, November 12, 2012

"America": Obama Launching Massive Campaign To Sue Companies, Organizations For Racial Discrimination On Everything From Credit Scores To Graduation Rates

From Investor's Business Daily:

If your organization has a policy or practice that doesn’t benefit minorities equally, watch out: The Obama administration could sue you for racial discrimination under a dubious legal theory that many argue is unconstitutional. 
President Obama intends to close “persistent gaps” between whites and minorities in everything from credit scores and homeownership to test scores and graduation rates.
His remedy — short of new affirmative-action legislation —is to sue financial companies, schools and employers based on “disparate impact” complaints — a stealthy way to achieve racial preferences, opposed 2 to 1 by Americans. 
Under this broad interpretation of civil-rights law, virtually any organization can be held liable for race bias if it maintains a policy that negatively impacts one racial group more than another — even if it has no racist motive and applies the policy evenly across all groups. 
This means that even race-neutral rules for mortgage underwriting and consumer credit scoring potentially can be deemed racist if prosecutors can produce statistics showing they tend to result in adverse outcomes for blacks or Latinos. 
Already, Attorney General Eric Holder has used the club of disparate-impact lawsuits to beat almost $500 million in loan set-asides and other claims out of the nation’s largest banks.


James E Carter in his term began the destruction of Glass Steagal by ending the protections FDR built in for banks concerning making mortgages and commercial loans to geographical areas with high proportions of default.
This practice which was deemed essential to the creation of the FDIC was known as REDLINING, and Carter considered it to be RACIST.

In function it could be called that. Economically it was was NOT. 

Economically, enforcement of EQUAL OUTCOMES blind to any criterion which yields a difference by numbers which conforms to a neighborhood by color, and now job type, credit score, YADDA YADDA, or any other EARNED OUTCOME which OBJECTIVELY just happens to show a differential based on oclor, race, or ANY OTHER QUALITY the govt deemed 'a difference' is now the norm.

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posted by Pastorius at permanent link#


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