Basics of Investing

Archive for May, 2009

Question: What do you think about Fox News’ Neil Cavuto’s statement that lending to minorities is a disaster?

The neocons are blaming black homeowners for the collapse of investment banks, despite the fact that most foreclosures are investment properties of white people. Amazing.

http://mediamatters.org/items/200809190021

Answer: he said that fannie mae and freddie mac should have known that “loaning to minorities and risky folks is a disaster.” however you want to spin it, it does sound racist. he could have left out the comment about minorities and it wouldn’t have sounded bad at all (in the context that i heard the quote). it surprises me that people actually speak this way in public. but as a non-black minority, i do agree that he didn’t state “black people,” he just meant non-white…not that that’s much better, just a clarification.

2010 Berkshire Hathaway Meeting- Warren Buffett Investments- Fox Business Channel