Skip to comments.Winding down Fannie and Freddie could put minority careers at risk
Posted on 02/20/2011 2:51:18 PM PST by Innovative
Dialing back government support for District-based Fannie Mae and McLean-based Freddie Mac could have far-reaching implications for minority financial professionals in the Washington region.
Not only are the mortgage finance giants two of the largest employers in the area, with a total of 10,000 workers, but many of those positions are held by people of color. Were the government-sponsored entities (GSE) eliminated, as the Obama administration is proposing, that may leave thousands of these professionals looking for a place to land.
At the close of last year, nearly 50 percent of Fannie's employees and 44 percent of those at Freddie were minorities.
(Excerpt) Read more at washingtonpost.com ...
US demographics shows that 30 % of the US population are minorities.
Do you think an article would ever have been published lamenting the loss of jobs of white Americans?
"have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin, but by the content of their character."
What’s the date? Oh, yeah, it’s February aka Black History Month.
BINGO! Fannie and Freddie are a joke. You are 100% correct - total reverse discrimination. Shut em both down - they helped wipe out the US economy.
Whates have “no standing” in America anymore.
Too bad, so sad.
I was not aware that this was a minority jobs program. It seems to be an extremely expensive one. Anyone care to calculate the cost for each of THOSE jobs “created or saved”?
Yeah. Let’s put those “minority careers” ahead of the FLIPPIN’ COUNTRY! Fannie and Freddie played a major role in bringing this country to the brink of collapse. Stuff it Danielle!!! Dumbass!!
Insane! Freddie and Fannie will ultimately be about $500 Bn in the hole; administered by favored groups. If they are competent, they’ll jobs waiting for them in the private sector; if they aren’t, hiring them to waste money through real estate leverage is a really inefficient way to transfer wealth to them.
I have zero sympathy for this scam.
And in addition”
“Beyond the diversity of their workforce, the mortgage twins are known for spending significant amounts of their procurement dollars with women and people of color. Freddie Mac, for instance, did $430 million worth of business with minority- and women-owned suppliers nationwide in 2010. “
The treasury has been looted. The money is gone.
They are no longer required having served their purpose.
Looks like affirmative action hires didn’t know beans about the mortgage business, but they were the right color. No wonder thieves such as Franklin Raines could make off with $92 million at Fannie Mae during the Clintoon administration, and no one in the next office caught on.
Well, since you can’t open a Walmart because black kids would steal and be sent to jail, I guess this makes sense, too.
Freddie and Fannie - two shining examples of the fruits of affirmative action...
Yep, when you’re hired primarily on the basis of race, you shouldn’t have a job in the first place.
The South discovered hiring people according to race kept their states in perpetual poverty for almost a century. Now the federal government is learning the same lesson. Hiring people according to race is stupid and counter productive. It destroys economies.
To make matters worse, the federal race-based hiring also mirrors the South by creating a good-old-boy network of like-minded individuals, leading to a system based on political posturing and graft. The feds call it “job protection.” Try to get rid of an incompetent civil servant.
Hire the best, period. Fire those who can’t do the job. And never, ever consider race or ethnicity or gender - unless the job is for a sperm donor or a surrogate mother, and even in those cases, quality is the most important consideration.
When are we ever going to get over the skin color fetish?
Where’s my violin,the really small one.
“Women, children & minorities hit hardest...”
[Never mind the taxpayers, the goal of limited government, a free society, or consumers making their own spending decisions (consumer sovereignty). And never mind the costly consequences of housing market social-engineering and the effects of raw, forced wealth transfers (theft) by Barney Frank, Chris Dodd, and others — including assorted RINOs).
You will find the same jobs program at every postal bulk mail facility.
>>>total reverse discrimination<<<
I agree with your feelings, but please don’t buy into leftist crap. “Reverse discrimination” is just another way of saying that “white” people somehow invented racism and bigotry, and that “nonwhite” people are always the victims and targets.
The reverse of discrimination is acceptance.
Just call a spade a spade. Racism and bigotry are equal-opportunity employers. Any one of God’s children can be a racist. Someone obsessed with skin color and who thinks they can tell someone’s intelligence, culture, and outlook by skin color is a racist. Period.
Those aren’t careers, they are “reparations”. Thanks Innovative.