Leftist housing-entitlement => global crisis

[n***@motz.invalid]

There's increasing exposure and hence acknowledgment
that the current global economic crisis/adjustment was
initiated by Clinton yielding to the pressure to 'make it
possible for minorities, who couldn't afford it, to own their
own homes'. Some years back, and I can't remember
how it coincided with the Clinton era, the S.African
leftists were screaming for 'the previously disadvantages
to be provided with [PeeCee forgiven] 'banking facilities'.

What I want to know is: why did the cry subside ?
Were the banks forced to forego sound poilicy and give them?
Or was the communist leadership educated as to the dangers
of such foolish policies ?

== Chris Glur.


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[Steve Hayes]

Post by n***@motz.invalid
There's increasing exposure and hence acknowledgment
that the current global economic crisis/adjustment was
initiated by Clinton yielding to the pressure to 'make it
possible for minorities, who couldn't afford it, to own their
own homes'. Some years back, and I can't remember
how it coincided with the Clinton era, the S.African
leftists were screaming for 'the previously disadvantages
to be provided with [PeeCee forgiven] 'banking facilities'.

The problem was caused by the Reagan-Thatcher privatisation mania, and the
commercialisation of the building societies long before Clinton came to power
-- way back in 1987.

[Peter Brooks]

There's  increasing exposure and hence acknowledgment
that the current global economic crisis/adjustment was
initiated by Clinton yielding to the pressure to 'make it
possible for minorities, who couldn't afford it, to own their
own homes'.   Some years back, and I can't remember
how it coincided with the Clinton era, the S.African
leftists were screaming for 'the previously disadvantages
to be provided with [PeeCee forgiven] 'banking facilities'.
What I want to know is: why did the cry subside ?
Were the banks forced to forego sound poilicy and give them?
Or was the communist leadership educated as to the dangers
of such foolish policies ?

The banks have implemented these policies. Unlike the Clinton inspired
disaster, they've been surprisingly responsible.

The model used by banks in SA is based on an old form of microlending
known as the stokvel. The banks have, seeing the very low default
rates in such systems, simply added a bit more liquidity whilst
keeping the fundamental structure. It's mainly worked extremely well.