by Dave Blount | April 14, 2015 12:49 pm
When people take power through political correctness, they will keep using it to press their advantage. The results are tyranny, thuggery, massive theft, and lunacy. Here’s how Hope & Change is applied to auto loans:
More than a year after persuading Ally Bank to pay $80 million to allegedly abused borrowers, the Consumer Financial Protection Bureau (CFPB) still hasn’t distributed a nickel to the alleged victims. Is it possible that victims aren’t getting paid because there are no victims?
Recently we told you about the bizarre federal campaign against auto lenders in which bureaucrats guess the ethnicity of borrowers based on their last names and addresses. The feds then claim discrimination in interest rates if the people they assume are minorities on average pay more than similar borrowers that the feds assume are white. This is not a joke.
Sure it is. It just isn’t funny.
Economist Marsha Courchane of Charles River Associates recently co-authored a critique of the bureau’s methods for spotting discrimination in auto lending. She tells us that if the bureau used its current methodology in the 2013 Ally case, fractions of borrowers would be added together to generate the total.
In other words, if two borrowers each have a 50% chance of being black, they would count as one black borrower. In reality, both could be white, black, Asian, or members of any other racial category. But at the CFPB two fractions can add up to one victim.
This is supposed to qualify as a great leap forward in the politics of racial grievance—not just protected classes of people but protected fractions of people, or perhaps aggrieved percentages of people.
Since we are not dealing with real people who exist other than in theory, the government cannot redistribute the wealth it has confiscated on their allegedly oppressed behalf. Sending checks to actual people is problematic, because the government must be sure no free money goes to whites.
What will the bureauweenies do with the stolen $80 million? Don’t worry about it. Big Government is good at making other people’s money disappear.
Political correctness has reached the last extreme of absurdity, revealing its true face: the face of a thieving lunatic tyrant.
On a tip from Varla. Cross-posted at Moonbattery.
Source URL: https://rightwingnews.com/democrats/feds-confiscate-80-million-on-behalf-of-victims-of-discrimination-who-dont-actually-exist/
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