Racist Bank Pays $100 Million
January 22, 2014
WHEN OBAMA said he would bridge the racial divide, he apparently meant that he would introduce a whole new level of racial bullying. A recent case is that of Ally Bank, which was accused by Eric Holder’s office of discriminating against blacks in auto lending. According to Investor’s Business Daily, the case against Ally was shockingly weak. Prosecutors never documented or researched the creditworthiness of loan applicants who were allegedly overcharged. “That’s right, they never looked at credit scores, down payments, debt or other key risk-related factors banks consider to set interest rates. Not for blacks, or for supposedly “similarly situated” whites.”
The bank agreed to settle for $100 million. It preferred, according to its statement, to avoid protracted litigation — and presumably the negative publicity that would go along with it. A commenter at Investors Daily writes:
I continue to be amazed at the naivete’ (if that’s what it is) of the ‘capitalist’ class in our country. They think a few petty bribes in return for a few temporarily favorable laws/regulations will grant them unearned (unjust) immunity or perpetual profitability.
They just don’t get that they are the meal. They are the fools. We are the fodder. We are the (real) victims.
Paying the bully only works for as long as he decides you have paid enough. Your free pass expires at his whim, and he dictates the terms and ‘distributes’ the favors on his own terms.
Capitalism wasn’t defeated, it surrendered once it realized it had bought into a game that it had helped to rig against itself. Capitalism only exists on a level small enough for ‘big government’ to not really bother with.
How very sad, how far we have allowed ourselves to fall.