Disparate Impact

clipped from www.classicalvalues.com Want to understand what happened? Ace has a very terse and cogent explanation: If the federal government were guaranteeing a trillion new dollars for no-money down car purchases with no credit checks or proof of employment or income, what do you think would happen to the price of cars? They'd triple. For a while. As to what caused the push for no-money down home sales with no credit checks or proof of employment or income, it's easy. I've lost track of the number of posts I've written about it. Ace singles out Barney Frank for especially harsh treatment, and while Frank is an insufferable fool, he's as replaceable as a piston ring. (As are "Chris Dodd, ACORN, Franklin Raines, Penny Pritzker, Jim Johnson, and of course Barack Hussein Obama.") The problem is the relentless push for socialism (a word few will use), which has done enormous damage to the economy by the simple misuse of a two word phrase: "Disparate impact."