Filed under: Democrat Corruption, Domestic Policy, Election 2012, Freedom, Law, Liberalism, Media Bias, Politics, Race, The United States | Tags: "Disparate Impact", Blacks Are Better-Off, Obama's Fantasyland
How about government racketeering? The 2010 Dodd-Frank Act created the Consumer Financial Protection Bureau. The Act specifically prohibited the agency from regulating auto dealers which the agency desperately wants to do because — racism. So the agency has gone after the wholesale finance providers instead. These bulk lenders quote dealers an interest rate that dealers, “mark up” within fixed parameters when negotiating with car buyers.
The CFPB does not allege real bias against anyone, it alleges “disparate impact.” But the government doesn’t know the race or gender of car buyers. Dealers are forbidden to collect this information. Instead the CFPB relies on the “Bayesian Improved Surname Geocoding method” to classify individuals by ethnicity based on their last name, census tract and zip code. The CFPB admits that the method overstates the African-Americans in the group by 20%. A private study suggests it’s more like 40%. But when pursuing racism to allege, the CFPB will leave no possibility unincluded.
The Bayesian method doesn’t identify skill in bargaining any more than it accurately identifies race and gender, but they charge ahead relentlessly. Many white males got less advantageous terms than the white-male average, unless they were mistakenly identified as Black, Hispanic and/or Female. This is a disgrace.
At his year-end press conference, President Obama was asked about the state of black America at the end of 2014. (emphasis added)
Like the rest of America, black America in the aggregate is better off now than it was when I came into office. The jobs that have been created, the people who’ve gotten health insurance, the housing equity that’s been recovered, the 401 pensions that have been recovered: a lot of those folks are African-Americans. They’re better off than they were.
The gap between income and wealth of white and black America persists, and we’ve got more work to do on that front.
I’ve been consistent in saying that, you know, this is a legacy of a troubled racial past, Jim Crow and slavery. That’s not an excuse for black folks, and I think the overall majority of good black people understand it’s not an excuse.
Growing numbers of black Americans aren’t so sure. Unemployment remains high. Ferguson, and Staten Island, empowered by agitators from international A.N.S.W.E.R., Al Sharpton, Eric Holder and the President himself put on a spectacle of riots completely unrelated to the facts in either case.
Well, Obama will fix that. He has signed an executive order creating the “Task Force on 21st Century Policing” as “part of the administration’s efforts to strengthen community policing and strengthen trust among law enforcement officers and the communities they serve.” The list of appointees for the Task Force is not encouraging, nor is the deliberate misunderstanding of facts of the riots and their cause.