Obama bullied bank to pay racial settlement without proof

[Falsedawn]

Oogie boogie white people!

We didnt come for dat ass the last 7 years, but my negus Hussein Obeezy is gonna dig all up in that ass for this last one.

Pepper yer angus, because its all black everything from here on out.

 

[Fawlty]

most of you guys are clowns

I think if most people are being honest,they would admit that most the time we start with a conclusion and then look for evidence to support that. I don't even know what to make of people (maybe they really aren't...people) that refuse to acknowledge or even look into something because it goes against those same beliefs.

Now look how far that same sort of dishonesty can be carried. The administration determined an outcome and then made up facts to reach that objective. Taking down lending institutions by claiming their lending practices are racial. Fuck those guys

It's illegal to racially discriminate in the auto loan business. There is statistically significant evidence of racial discrimination by dealers in partnership with Ally. They had an arrangement that allowed them to arbitrarily raise interest rates at the dealership, and those practices were found to discriminate racially. So they have to stop those practices and repay the people they offended against. This isn't a conspiracy, unless you consider the entire idea of looking into racial discrimination in America to be a conspiracy (you do). This is your problem. Good luck with it.

 

[second sight]

It's illegal to racially discriminate in the auto loan business. There is statistically significant evidence of racial discrimination by dealers in partnership with Ally. They had an arrangement that allowed them to arbitrarily raise interest rates at the dealership, and those practices were found to discriminate racially. So they have to stop those practices and repay the people they offended against. This isn't a conspiracy, unless you consider the entire idea of looking into racial discrimination in America to be a conspiracy (you do). This is your problem. Good luck with it.

From the article

In fact, in order to distribute an $80 million settlement against Ally Bank — the biggest on record for the auto industry — the administration is literally just making up victims to meet the number prosecutors announced in the settlement two years ago. The government has had to send out more than 400,000 queries to Ally borrowers asking them if they are black or Hispanic.

It has no idea who, if anybody, was harmed.

The documents also reveal that the regime is bypassing anti-fraud safeguards to achieve its political goal of showing racism in auto lending.

The result is that thousands of payment checks are being cut to non-victims, many of whom aren’t even minorities. The banking panel chairman charges the administration is inviting “fraud on a massive scale” and demands the attorney general immediately suspend distribution of the settlement.

 

[afrdzak]

Call me skeptical on this. Not just because of who posted it (which usually means a complete misunderstand of what they're posting), but because it is much cheaper to litigate this then pay the fines being shown.

If it's all a sham, it comes out in the legal process; which will be less than the fines. If it isn't, they pay the fines to avoid litigation costs.

 

[Fawlty]

From the article

In fact, in order to distribute an $80 million settlement against Ally Bank — the biggest on record for the auto industry — the administration is literally just making up victims to meet the number prosecutors announced in the settlement two years ago. The government has had to send out more than 400,000 queries to Ally borrowers asking them if they are black or Hispanic.

It has no idea who, if anybody, was harmed.

The documents also reveal that the regime is bypassing anti-fraud safeguards to achieve its political goal of showing racism in auto lending.

The result is that thousands of payment checks are being cut to non-victims, many of whom aren’t even minorities. The banking panel chairman charges the administration is inviting “fraud on a massive scale” and demands the attorney general immediately suspend distribution of the settlement.

How can you simultaneously claim that they sent queries to Ally borrowers to begin the process of verifying if they were damaged, and also say that they are literally just making up victims?

How would you propose they award the settlement? Surely trying to right this by awarding customers is better than the government just swooping up the whole pile of cash, which seems to be the only alternative.

 

[second sight]

they sent the letters AFTER the settlement...they don't even know the race of the people who were supposably affected

How can you simultaneously claim that they sent queries to Ally borrowers to begin the process of verifying if they were damaged, and also say that they are literally just making up victims?

How would you propose they award the settlement? Surely trying to right this by awarding customers is better than the government just swooping up the whole pile of cash, which seems to be the only alternative.

there should have been no settlement, all the metrics used by the government to reach this conclusion turned out to be bullshit

 

[Fawlty]

they sent the letters AFTER the settlement...they don't even know the race of the people who were supposably affected


there should have been no settlement, all the metrics used by the government to reach this conclusion turned out to be bullshit

Of course they sent letters after the settlement. That you call it bullshit based on the garbage article you linked is amusing. Consuming that kind of media is bad for your brain. If you can show that the statistical method used in this case is "bullshit" then by all means have at it.

 

[second sight]

Of course they sent letters after the settlement. That you call it bullshit based on the garbage article you linked is amusing. Consuming that kind of media is bad for your brain. If you can show that the statistical method used in this case is "bullshit" then by all means have at it.

the article came from the house.gov website, reporting the same story

10 minutes of reading and you wouldn't be standing in a big pile of stupid

 

[Fawlty]

the article came from the house.gov website, reporting the same story

10 minutes of reading and you wouldn't be standing in a big pile of stupid

And you know I'm referring to the investors.com article, the one that starts with the words "Smoking gun" and "Shakedown."

Your house.gov BLOG WRITTEN BY A TEXAS REPUBLICAN'S STAFFER is taking a stance on the debate. I won't call you a stupid-puddle-stander for taking a partisan blog as fact though. I should, but I won't.

 

[second sight]

And you know I'm referring to the investors.com article, the one that starts with the words "Smoking gun" and "Shakedown."

Your house.gov BLOG WRITTEN BY A TEXAS REPUBLICAN'S STAFFER is taking a stance on the debate. I won't call you a stupid-puddle-stander for taking a partisan blog as fact though. I should, but I won't.

The same investors.com article specifically quoted and linked as being who covered the hearings we're talking about?
Yes I understand what article you were referring to, take it up with Chairman HENSARLING of the Financial Service Committee, its his page.

The CFPB’s disparate impact methodology was described as “downright insulting to African-Americans” by Rep. David Scott (D-GA), “for assuming last names such as Johnson, Williams or Robinson belong to black borrowers,” the Wall Street Journal reported in its article about Tuesday’s hearing.

The Bureau, a creature of Dodd-Frank, is uniquely unaccountable to hardworking taxpayers because it is not subject to the usual checks and balances that protect Americans from government overreach and abuse.

“Instead of the equal protection offered by the impartial rule of law, they are today dictated to by the arbitrary rule of regulators, and Exhibit Number One is the CFPB director,” said Chairman Hensarling (R-TX).

 

[Fawlty]

The same investors.com article specifically quoted and linked as being who covered the hearings we're talking about?
Yes I understand what article you were referring to, take it up with Chairman HENSARLING of the Financial Service Committee, its his page.

The CFPB’s disparate impact methodology was described as “downright insulting to African-Americans” by Rep. David Scott (D-GA), “for assuming last names such as Johnson, Williams or Robinson belong to black borrowers,” the Wall Street Journal reported in its article about Tuesday’s hearing.

The Bureau, a creature of Dodd-Frank, is uniquely unaccountable to hardworking taxpayers because it is not subject to the usual checks and balances that protect Americans from government overreach and abuse.

“Instead of the equal protection offered by the impartial rule of law, they are today dictated to by the arbitrary rule of regulators, and Exhibit Number One is the CFPB director,” said Chairman Hensarling (R-TX).

I'm reading on my own that there are disputes about a couple of things, and I'm curious where the CFPB's authority will land on this. But where's the argument about statistics? I've been presented with evidence of racially discriminatory lending practices, and I'm inclined to accept it. I read about people saying the methods were flawed, but I'm not seeing how. This is why sources matter, why articles posted to persuade shouldn't be full of spooky language, or be politically-motivated blogs. One link is shitty journalism, and the other is not journalism, nor a reliable government statement. Nobody wants to wade through that shit. I don't mind being open-minded, I see at least one legitimate dispute in this mess.

 

[Hog-train]

The NY Post is owned by Rupert Murdoch - AKA Fox News.

 

[second sight]

I'm reading on my own that there are disputes about a couple of things, and I'm curious where the CFPB's authority will land on this. But where's the argument about statistics? I've been presented with evidence of racially discriminatory lending practices, and I'm inclined to accept it. I read about people saying the methods were flawed, but I'm not seeing how. This is why sources matter, why articles posted to persuade shouldn't be full of spooky language, or be politically-motivated blogs. One link is shitty journalism, and the other is not journalism, nor a reliable government statement. Nobody wants to wade through that shit. I don't mind being open-minded, I see at least one legitimate dispute in this mess.

did you read the second paragraph of the post you just quoted?

 

[Fawlty]

did you read the second paragraph of the post you just quoted?

Took the time to watch about an hour of relevant stuff from the testimony back in September. I gave it a chance and found the references to the testimony that have appeared in the press I read, including your links. None of those things had any substance to them, rather they were delivered as accusations in a very limited time restraint, with little or no opportunity to respond. The auto finance (as opposed to dealers) industry may well fall under their jurisdiction, and it is reasonable to think they do. More clarity is going to be needed there. And are Charles River acting as assassins on this? I don't know anything about them, but they don't give off an "independent" vibe.

 

[Rex Kwon Do]

Lol

I live on the same island as him. I would say I should meet up with him for coffee but I think I'd end up on a list if I did. Deservedly so.

 

[lfd0311]

I guess you didn't read the link. The statistics supported the plaintiff but the article dismissed them (not me) as "half baked" and then claimed Obama bullied the defense. The article does nothing to explain why the statistics are "half-baked", so I guess their readers wouldn't care if the substantiated their own claim.

Try reading next time. And wtf? Where do you see me making claims about the mortgage crisis?

I read the article. It's sensational nonsense. But don't try to act like this administration and our government in general is above this type of thing. And you try reading yourself. See the Subprime Mortgage Crisis for this exact attitude really put into practice. Glad to see you caught that.

 

[JadeOwl]

But is it wrong, the worst is amrican history, Osama bombs america, Obama hussein takes control of presidency. Isis is born, Arabs pushing into other countries. Fort hood shooting. Boston marathon, San berdino,
Warning to all citizens, any Muslim backlash against their violence, those people will be prosecuted to the fullest power, Loretta lynch

You are aware that you're not writing a telegram, right?

 

[kpt018]

I read the article. It's sensational nonsense. But don't try to act like this administration and our government in general is above this type of thing. And you try reading yourself. See the Subprime Mortgage Crisis for this exact attitude really put into practice. Glad to see you caught that.

So you were wrong and instead of acting honorably you make a half assed claim? This seems to be a recurring theme with you.

 

[lfd0311]

So you were wrong and instead of acting honorably you make a half assed claim? This seems to be a recurring theme with you.

....... Do you even read my posts? .... I was wrong?.... wha.... What?

EDIT: and for like the 50th time, when my points go right over your head, stop trying to act like that makes me stupid.

 

[Prutfis]

You'd find a problem with those statistics no matter what they were, and also act as if the subprime mortgage crisis never happened

To be fair, the NY Post are a bunch of uninformed hacks. My dog could write better articles than that sad bunch of morons