SMDH

[Tunnelcat]

88 House Democrats, including Debbie Wasserman Schultz, just sided with ALL the House Republicans to nullify regulations put out by the Consumer Financial Protection Bureau in 2013, which will now re-allow banks and auto dealers to selectively charge higher interest rates for car loans to specific buyers. Guess which specific buyers I'm referring to? People of color.

http://www.huffingtonpost.com/entry/dem ... lp00000592

[woodchip]

Well the black folk have been stupidly voting Dem for ages. I suspect they'll keep voting the same way no matter how many more lead anchors the Dems tie to their necks.

[Vander]

Well the black folk have been stupidly voting Dem for ages. I suspect they'll keep voting the same way no matter how many more lead anchors the Dems tie to their necks.

Are you criticizing the 88 Democrats? Black people for voting for those 88 Democrats? The other 100+ Democrats? Or just a general all black people who vote for Democrats? (and Democrats)

[Ferno]

wow. can't wait to see the response to that one.

[Tunnelcat]

Well jeez woody. Is voting for Republicans any better for blacks? I see EVERY SINGLE ONE OF THEM voted to kill those regulations, just like the little racist plutocrat suckups they usually shill for. At least only 88 Dems were turncoats and the one representative here in Oregon who voted in favor is a rural DINO in a solidly rural red district. He might as well call himself a Republican, because he votes like one.

[woodchip]

Well the black folk have been stupidly voting Dem for ages. I suspect they'll keep voting the same way no matter how many more lead anchors the Dems tie to their necks.

Are you criticizing the 88 Democrats? Black people for voting for those 88 Democrats? The other 100+ Democrats? Or just a general all black people who vote for Democrats? (and Democrats)

All of the above.

[Spidey]

"only 88"

[Lothar]

Even if you're the sort of person whose faulty BS detector allowed you to believe the Catholic senator and the openly gay mayor were KKK members, it seems like the BS detector should go off when you're talking about every Republican and 88 Democrats openly voting to enable racial discrimination. That's so absurd that it can't really be what's happening.

The WSJ wrote about the regulation that's being reversed: http://www.wsj.com/articles/SB100014240 ... 4270043146

their key contention is that the original regulation basically outlaws any sort of rate negotiation by car dealers, based on "evidence" of discrimination that the CFPB hadn't shared. At the time they had the excuse of "ongoing investigation by the DoJ", but that investigation was completed -- and Honda was found to be in violation of pre-existing regulations. So it's not clear that the new regulation actually helps -- and it's a rather sweeping change to the car-dealership industry that eliminates a major profit source and therefore forces them to create profits in some other way such as a markup to the MSRP.

So in actuality, every Republican plus 88 Democrats voted to reverse a regulation that's titled "anti-discrimination" but that's simultaneously far too broad and ineffective.

[Tunnelcat]

Can't read the article Lothar. It has a paywall.

If a dealer wants to make a profit off of a higher interest rate, there's nothing wrong with that. Not that these bastards don't get more money out of you with fuzzy vehicle prices and trade in values in the first place. Manipulating the loan rate is no better. In fact, buying a car from a dealer is about as painful and uncomfortable as having your toenails pulled out with pliers. So I have no sympathy for them when they whine about profits. It's a business model rife with dishonesty and manipulation. Why the hell they work that way befuddles me. It seems like a crappy business model. Last time I bought a new car, I felt violated and pissed off about the whole experience.

However, pertaining to this thread, I think a better or fairer solution would be to use a person's credit score, which any car dealer would have no problem finding out quickly, instead of making a squishy emotional decision about someone's finances based on that person's appearance or race, all to charge them a higher rate for a loan.