Will Grigg?s Liberty Minute

February 23, 2009

During the 1990s federal enforcement agencies accused banks and other lending institutions discriminating against minorities who applied for mortgage loans.

By the end of the decade, a concerted effort was underway to compel lenders to extend credit to minority applicants even when their circumstances and credit histories were marginal or worse.
Today, many of those trapped in bad sub-prime mortgage loans are the supposed beneficiaries of this federally sponsored push to overcome supposed lending discrimination.

And many of the lenders who were brow-beaten into making loans to such marginal borrowers are now being assailed as ?predatory lenders? who supposedly took advantage of desperate, helpless poor people. A federal task force in Maryland is actually threatening to seize money and other assets from bankers accused of predatory lending.

This is yet another example of the way that government creates the poison and the supposed antidote in the same laboratory.

Let us take back the liberty wherewith Christ has made us free.