Sometime people send me funny stuff.......

*Finance 101: Blame the Poor***** : Information Clearing House -* ICH

Did you know that the poor (and mostly black) people in the US caused the global financial crisis that threw the world economy into its worst slump since the Great Depression of the 1930’s?

I didn’t know that either, until I heard this news from the US media and popular broadcasters like Glenn Beck, Sean Hannity and Rush Limbaugh.

This is how it all happened: Special interest groups representing poor people, minorities, and “socialist” elements in the US government “pressured banks to make loans to people who could not afford them, and then the whole thing melted down…” explains Beck, who has a radio and TV audience of several million viewers and listeners.

Thomas Sowell, a right-wing economist for the Hoover Institution and a writer for the Wall Street Journal and Forbes magazine, says that anti-poverty activists “blocked drive-up lanes and made business impossible for banks until they surrendered to demands that they make billions in loans that they wouldn’t otherwise have made.”

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