WaMu Recognized as Top Diverse Employer—Again
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Washington Mutual, Inc., September 24, 2008
Washington Mutual, Inc. (NYSE:WM), one of the nation’s leading banks for consumers and small businesses, has once again been recognized as a top employer by Hispanic Business magazine and the Human Rights Campaign.
Hispanic Business magazine recently ranked WaMu sixth in its annual Diversity Elite list, which names the top 60 companies for Hispanics. The company was honored specifically for its efforts to recruit Hispanic employees, reach out to Hispanic consumers and support Hispanic communities and organizations.
The Human Rights Campaign, the largest national gay, lesbian, bisexual and transgender (GLBT) civil rights organization, also awarded WaMu its second consecutive 100 percent score in the organization’s 2009 Corporate Equality Index (CEI), which measures progress in attaining equal rights for GLBT employees and consumers. WaMu joins the ranks of 259 other major U.S. businesses that also received top marks in the annual survey. The CEI rated a total of 583 businesses on GLBT-related policies and practices, including non-discrimination policies and domestic partner benefits.
In both surveys, WaMu earned points for competitive diversity policies and programs, including the recently established Latino, African American and GLBT employee network groups, all of which have a corporate executive sponsor and champion.
“Diversity is an integral part of cultivating a welcoming, innovative and dynamic workplace here at WaMu. We are proud to be recognized for the opportunities and benefits we offer to all of our employees, including the specific efforts we have made to engage Hispanics and the GLBT community,” said Steve Rotella, WaMu president and COO. “We are committed to diversity at WaMu and pledge to listen to our customers and work closely with our employees to continue to make progress.”
These two recent honors build upon diversity recognitions WaMu received earlier in 2008. WaMu was named one of 25 Noteworthy Companies by Diversity Inc magazine and one of the Top 50 Corporations for Supplier Diversity by Hispanic Enterprise magazine.
About WaMu
WaMu, through its subsidiaries, is one of the nation’s leading consumer and small business banks. At June 30, 2008, WaMu and its subsidiaries had assets of $309.73 billion. The company has a history dating back to 1889 and its subsidiary banks currently operate approximately 2,300 consumer and small business banking stores throughout the nation. WaMu’s press releases are available at http://newsroom.wamu.com.
CONTACT: Kate Stouffer
WaMu
206.500.4703
kate.stouffer@wamu.net
(Posted on September 26, 2008)
Comments
Diversity wasn’t enough to keep Washington Mutual solvent as there is no competitive advantage in diversity. Anyone who has had dealing with just about any federal agency has learned to dread the ruthless inefficiency brought by diversity hiring and promotions. One wonders how long the United States government can keep limping along after handicapping itself by making most of its positions racial spoils given to candidates only on the merit of their skin color. Unfortunately they are propping the whole rotten structure up by taxing the life out of the white middle and working classes. Along with the diversity recession we have diversity driven devolution of academic standards, gross inefficiency in public and private work forces and a general decline in societal expectations. May those of us who survive this train wreck never forget what is causing this societal demolition.
Posted by Enough at 6:22 PM on September 26
It is so nice that we can finally put an exact price tag on the cost of diversity In the case of Washington mutual, it was $15 billion.
Posted by ciccio at 6:24 PM on September 26
Entirely aside from the fact that this firm just failed, take a moment to think about the contents of this press release in the context of how business has historically been done.
All throughout business history, until as recently as 40 years ago, a major bank issuing a press release about “reaching out” to ethnic minorities — and doing it IN THE NAME OF GOOD BUSINESS PRACTICES — would have been explicable only as some sort of April Fool’s joke. And not even a very funny one at that. At any time prior to the 1960s, the idea that a company or a financial institution should devote time and energy to such an irrelevant (and ultimately fruitless) task as trying to raise the numbers of their non-white staff and clientele, would have struck businesspeople of the past as so bizarre as to be hilarious. A firm directing considerable resources towards ethnic “equalization” or “integration” efforts would have been vetoed as a grotesque waste of capital; foolish, asinine and (most important) economically unjustifiable.
Today, foolish, asinine and economically unjustifiable are the norm.
Posted by The Incredible Shrinking White Man at 6:29 PM on September 26
WaMu deserved to die for its race-baiting advertising campaign that featured an energetic African American man criticizing, embarrassing, and mocking a whole group of older white American men presented as hate caricatures of bankers. We gave the ad agency that put the ad together the Julius Streicher Award. You can read a little bit about it here:
www.ResistingDefamation.org/sub/g49.htm
Posted by Stanley at 6:39 PM on September 26
I am glad to see that this racist bank went bankrupt…..Do you remember their ad campaign back in March, 2006? In it there was a young black man (the good banker), and 20 mature white men (the bad bankers) that were asked questions about incentives for customers. The bad bankers naturally scoff at the good banker’s suggestions. There were several other of these racist ads in the series…..I also came across an article in a newspaper that tells how Washington Mutual gave a $615,000 mortgage to an immigrant making $9 an hour who couldn’t read or write English! He had a 6th grade education. It is no wonder that this racist, stupid bank went bankrupt!….One other note: That immigrant that I referred to above couldn’t make the payments with his wages and so started renting out parts of his house to illegal aliens! We sure live in a remarkable time, don’t we?
Posted by aey at 6:48 PM on September 26
I’ve always wondered how businesses fared after they went ‘diverse’. I suspect that companies such as Ford and Coors, both stressed diversity, must have been hit in the bottom line.
It would make eye opening reading to compare companies before and after diversity.
And that whole incident with Nascar hiring that black woman? Priceless.
Posted by sbuffalonative at 6:49 PM on September 26
I am so proud of WaMu. They have really done a good job, taking care of what is most important in America — increasing diversity. Really, nothing else matters. As long as we can increase Diversity, then we are doing well — just ignore everything else.
Posted by at 6:49 PM on September 26
It they had run the place like a business, they wouldn’t be in a mess. Instead, they ran it as a division of the EEOC and ran it into the ground.
No sympathy from me.
Posted by at 6:59 PM on September 26
JP Morgan Chase just purchased WaMu from the federal regulators (Wamu is by far the largest bank to ever fail in U.S. history) for only 1.9 billion USD. Quite a good deal if you ask me.
But there is no doubt that WaMu, which suffered huge losses in its mortgage loan and credit card businesses, was brought down by the kind of lending practices that now jeopardize the global financial system including granting mortgages to borrowers without demanding sufficient collateral or proof of their ability to make payments.
As housing prices have tumbled, many of these borrowers have defaulted on the loans.
Before the mortgage meltdown, WaMu was a major originator of subprime and other risky loans. Of the $181.5 billion in home mortgages that WaMu had on its books as of June 30, $52.9 billion were adjustable-rate loans in which borrowers had an option to make lower payments, but exercising that option also put them in deeper debt and, many believe, more likely to default.
Of the rest, $16.1 billion were subprime loans to the riskiest borrowers.
I have no doubt many of those bad borrowers were my neighbors here in Los Angeles County where we have over 10 million people not counting the illegals and most of them are not white.
Posted by Unemployed WASP at 7:07 PM on September 26
If any of my funds announces that it is a top Hispanic employer, I shall take that as an alert to sell it immediately.
Posted by Tim in Indiana at 7:08 PM on September 26
Wow, too much!
I guess the “dynamic” workplace greated by gays and hispanics wasn’t enough to make up for risky lending.
Posted by at 7:33 PM on September 26
You have to admit they made great commercials
http://www.youtube.com/watch?v=BfmJWYJFYfk
Posted by S & GS at 7:36 PM on September 26
So what….. Does having all this diversity get me a better rate on my deposits, or a lower rate on loans???
The answer is a resounding NO! Diversity, as usual, accomplishes nothing positive for the consumer.
Posted by at 7:39 PM on September 26
Hilarious, really.
The’ll make diversity their main focal point even if it means going broke.
And that’s exactly what it did mean.
This is really funny.
Posted by Robert Kelly at 7:42 PM on September 26
I wonder how many loans they made to illegal aliens ? This is another unwanted consequence of having open borders. Remember, both political parties are responsible for this. The two morons running for president both advocate open borders. Whwnever you hear the words ‘comprehensive reforms ‘, run for the hills.
Posted by gee vee at 7:44 PM on September 26
It’s out of business because of diversity. Yet, they loved diversity until the end. After all, Winston Smith did finally fall in love with Big Brother.
Posted by Question Diversity at 7:47 PM on September 26
’ Don’t know about elsewhere, but when they started showing (in CA) that advertisement on TV with the young smart-alec black guy driving a golf-cart thing which was towing a cage/trailer full of grumpy, mean, dishonest, “old white guy” bank managers, I vowed that I would never do business with “WaMu”.
Posted by at 7:48 PM on September 26
Famous last words anyone?
Who here does not remember those obnoxious WaMu tv commercials wherein the impossibly wise and witty Black man mocks and sends-up the buffoonish White, male bankers - all of whom are undeniably Waspish in appearancle? Where’s your Black sage now WaMu? Diversity, was evidently not such a strength after all, eh Mr. Rotella?!
Posted by HH at 8:28 PM on September 26
How ironic (or even prophetic) is this:
“These two recent honors build upon diversity recognitions WaMu received earlier in 2008. WaMu was named one of 25 Noteworthy Companies by Diversity Inc magazine and one of the Top 50 Corporations for Supplier Diversity by Hispanic Enterprise magazine.”
And now, only two days later, this monetary giant so honored for its “competitive diversity” has totally collapsed, and its filthy rotting carcass is being chewed upon by its competitors and the feds.
See this NPR link:
http://www.npr.org/templates/story/story.php?storyId=95105112
I must state plainly, that I find a certain grim amusement in this whole mess these financial and “competitive diversity” institutions now find themselves in. They have foolishly allowed greed, multicultural orthodoxy, and federal blackmailing, to supplant sound business practices and look what it has gotten them; it has gotten them nothing but disaster. I am no financial expert, far from it, but even I can see that loaning out money to the financially unstable or flooding the workplace with the less qualified has a price, and now Washington Mutual has paid it.
I believe that we are in for some hard days people, because from what I have observed on the political end of this as is fed to us by the media, nobody seems to know what to do about this disaster. Yes, they are tossing out this bailout plan and El Presidente seems to be endorsing it, but it is meeting some serious opposition as well. Personally, I think this is a crisis of the sort that our esteemed “leaders” are not really equipped to handle. No matter what they do, it will be like applying bandages to a sucking chest wound; it is a big enough disaster, to have become similar to a force of nature in its progress.
Again, it is ironic that its roots all plunge into the sewer of multiculturalism; however, that is a bitter irony when one considers that the collapse we have all warned about and have dreaded may now be upon us.
“Diversity is our strength,” we have been told and that we could take that to the bank; well, it is in the bank now and collecting its interest I am afraid.
As always, God help us all!
Posted by John PM at 8:34 PM on September 26
Washington Mutual, Inc. (NYSE:WM), one of the nation’s leading banks for consumers and small businesses, has once again been recognized as a top employer by Hispanic Business magazine and the Human Rights Campaign.
No wonder it went belly-up. A few weeks ago I was waiting for the bank at a branch in NYC to open on a Saturday morning…
and I could not believe my eyes…diversity alright….the person who had the key to the bank came in half-naked on top with a dirty pair of jeans and flip-flops…she went inside and quickly changed and put on a wrinkled Wamu-T shirt to start helping customers….it boggled my mind and I wondered how that person got her job. Now the truth comes out….the only requiredments to get a job as a bank teller; high-school or GED and the right ethnic background. I discussed this with a friend and she also noticed the same thing. Affirmative action is lowering standards and pushing other qualified applicants out of the market place.
Posted by Lisette at 8:35 PM on September 26
WaMu’s recognition as one of the most diverse workplaces - coming on the heels of its collapse -is like a television series given an Emmy as “Best Series”, after its cancellation.
In my city, WaMu seemed to be opening a branch on every other street corner, especially in minority and mixed-race neighborhoods. I thought then, they were expanding too fast and would eventually go under.
If a firm that purported to have over $ 300 billion in assets, and a diverse workforce, could go belly-up, what does that say about multiculturalism?
I feel for the WaMu employees who are now without jobs, but that’s about it.
Posted by Soprano Fan at 8:38 PM on September 26
“WaMu recognized as top divers employer—again.”
Some of these companies never, ever learn. It is said that when a company is going under, the very last thing they do is revise the “company rules book”. This happened in a company I once worked for. I kid you not, when it’s stock price had plummeted to a fraction of what it was once worth, we received,(management), a new set of “rules” that it was now neccessary to follow. Again, I’m not making this up.
Now, to the good folks at Washington Mutual. I have some of my money in that bank, and I well remember going there for some matter or other over the last 15 years, and seeing right on the desk of the banks employees, a sign that said, “Have you given a loan, etc. today, followed by Matricula Cards accepted. Oh, yes, WaMu was definetly in the lead to give anyone that was on unemployment benefits, or had a McDonalds job, or was just plain a swell looking fellow, a mortagage loan—provided they were also a minority.
And so it has now come full circle. I once ran a small business in the seventies, that I sold to someone else, and I can tell you that in business, stupid mistakes are punished—swiftly and ruthlessly. It only took longer to punish a Washington Mutual because of its size.
Posted by Bobby at 8:49 PM on September 26
Poor Kate Stouffer.
Yes, she does deserve a call. Poor thing. Lets all remember she may be a decent person that needs a paycheck. And yes, the commercials are amazing offensive. Wonder if Kate’s direct extension will be cut off by Tuesday? I will do my part, I am in sales and calling people that don’t really want to hear from me is my business.
Posted by Sonya at 9:08 PM on September 26
Followup, anyone that emails poor Kate, include these folks in the cc:
alan.fishman@wamu.net (CEO)
wendy.cadman@wamu.net (Assistant to CEO)
tom.casey@wamu.net (CFO)
steve.rotella@wamu.net (COO)
stewart.landefeld@wamu.net (CLO)
(and if anyone knows what a CLO is, please share)
Posted by Sonya at 9:20 PM on September 26
I can’t say I’m sorry to see “WaMu” go. I hated their blatantly anti-White commercials that featured “clueless” White bankers being told what was good for their customers by a “hip” black.
A laughable concept given the fact that while Whites were laying the foundations of modern banking in Europe during the Renaissance, most blacks in Central Africa (right up until the end of the 19th century, in fact) were still counting on their fingers and only a few tribes had words in their languages for numbers greater than ten.*
* Baker, Dr. John R: Race, “The Negrids,” pp. 395-6.
Posted by at 9:44 PM on September 26
WaMu had a banking store across the street from my house. It also had those expensive advertisements with the ALL WHITE bankers being made fun of by the black spokesman. I complained to wamu, and recieved a brief email back that the ads were meant as a light hearted poke at traditional banks. They never responded to my second email telling them that if there were ridiculing the only safe demographic left, and as a member of such, would never set foot in their bank. That branch folded last year, and the whole thing collapsed now. I cant be more pleased.
Posted by Wilhelm at 9:47 PM on September 26
“The Human Rights Campaign, the largest national gay, lesbian, bisexual and transgender (GLBT) civil rights organization, also awarded WaMu its second consecutive 100 percent score in the organization’s 2009 Corporate Equality Index (CEI), which measures progress in attaining equal rights for GLBT employees and consumers.”
I’m perplexed. How would they KNOW an employee was “gay, lesbian, bisexual or transgender (GLBT)”. I don’t remember having to fill out THAT part of the application for my job or it being a part of my interview. You can’t just ASSUME someone is and put it down as fact, nor can you ask them personal questions like that because of harassment laws.
However, being “Hispanic” is pretty obvious and part of the HR file. And remember, they do the jobs Americans won’t do, well…except for now…at WaMu, at least. They should not fear, however, as there are many other jobs that Americans won’t do, such as pick lettuce for $50/hr, right Mr. McCain?
Posted by at 10:04 PM on September 26
Ever since this diversity-enraptured business put out their blatantly anti-White male TV ads, I’ve gotten rid of everything I had (accounts, investments) that was with Washington Mutual.
Looks as if I got the job done in time. Don’t RIP, WaMu!
Posted by Annoyed In Ilinois at 10:34 PM on September 26
In all fairness, I’m not sure how this directly led to WaMu’s downfall, and therefore why this article is posted on AmRen. My response is not an endorsement of WaMu’s extremely liberal employee policies, but rather questioning the extent to which these policies may have had an effect on WaMu’s financial mismanagement. In my opinion, the two do not appear to be related.
Posted by Cop at 11:01 PM on September 26
Sonya,
CLO = “Chief Legal Officier”
Regards,
HH
Posted by HH at 11:50 PM on September 26
Here in aztlan untill just recently I was banking with 1st federal bank. It was my bank for three years. When I opened my account there were some European American Employees. The service was pretty good. Three years passed and suddenly there were no white faces working there at all. Consequently the service fell in a precipitous decline.
Coincidence? I think not. Most of the people were of middle eastern descent. There were also some requisite hispanics and blacks.
When I closed my account there the teller asked me why?
I replied that I couldn’t understand the accents of the people employed there. There were no European Americans and the service was terrible.
The teller looked at me agog. A priceless moment.
I continued to receive bills on a closed account for another two months.
I finally had to go back there to straighten the mess out.
Quite angrily I said this is the type of mistake that made me leave.
They too will probably fold.
I just told my daughter to take her money out of wamu.
Their stupid ads made me angry anyway.
Posted by lost in aztlan at 12:21 AM on September 27
Ignorance is knowledge.
Failure is success.
Diversity is strength.
Cancer is health.
These statements belong to the same categories of blatant lies. Read Orwell “1984” to learn more about this kind of Leftist propaganda.
Posted by A Reader at 12:43 AM on September 27
In my opinion, the two do not appear to be related.
The dumbing down of lending standards, specifically for the purposes of boosting minority borrowing, most certainly did lead to dumb lending standards. In my experience also, AA hires are always pushing some dumb ideas, and corporate occasionally buys into them to make them feel “validated.”
But even if diversity is not the cause of death, it’s still nice to dance on WaMu’s grave.
We can (and should) laugh, but remember - professing diversity is so deap-seated in business today that it will not go away, not now, not ten years from now. It will only get worse until white America finally, truly says “Enough!”
I vowed that I would never do business with “WaMu”.
I do do business with them. True story about the geniuses at Wachovia: I had a credit card, with a fairly high limit. They sent me a note in my monthly statement saying they were going to raise the base rate (the percent they add to prime to get your APR), puting the APR over 20%.
When the credit card company does this, you have an option to avoid the new, higher rate: close the account. You can still pay it off, over time, under the old terms - you just can’t put new chages on the card. So I did that, and also asked them why they were raising the rate. They said it was to get rid (or charge more from) “bad credit risks.” (My credit score is actually pretty good).
Not even a month later they send me an offer for a 0% 18 month teaser rate, with a limit about half of my old card. So now instead of paying 20% or even 11% I’m paying nada. Tell me if that makes sense.
But it made me feel great inside, not only because I was saving money, but because I already was familiar with their commercials.
Posted by Charles Martel at 12:49 AM on September 27
Cop, the multiculturalism displayed in the liberal employee policies was a visible symbol of top WaMu management’s faith in the social construct of modern liberalism as a profitability driver. And it paid dividends in the short run. But what they discovered is that simply aligning yourself to whatever is politically correct in a culture in a given time frame does not change the priciples (e.g. laws) of economics, which are based in math. They discovered that lowering their lending standards to make a bunch of bad loans to people who couldn’t meet their loan obligations bankrupt their organization and that strenously adopting multiculturalism in their corporate culture probably contributed to both the lowered standards that were adopted as well as making loans to the most diverse loan applicants resulting in loans made to people to poor to pay them back.
Posted by Unemployed WASP at 1:09 AM on September 27
I had to go into a WaMu branch to clear up a matter. WaMu accused me of depositing a forged check to one of my accounts- a real shocker as they were either unable or refused to explain. Upon meeting with the branch manager (an affable African-American) in her office, I was told it was incumbent upon me to obtain a letter from the company who gave me the check to prove my innocence. The letter was faxed over to the branch that day. Though while in the office with the branch manager, she saw someone in the lobby she knew and popped out to socialize for about ten minutes. Before leaving me, a suspected check forger alone in her office with her computer and everything else on and in her desk, she also asked me to answer the phone.
News of WaMu’s demise did not surprise me.
Posted by PMN at 1:12 AM on September 27
Does anybody know how many employees WAMU has/had?
Tom Iron…
Posted by Tom Iron at 5:02 AM on September 27
Diversity IS a strength if it means that you do not exclude anyone from consideration in hiring and promotions because of minority status. Diversity IS NOT a strength if consideration is given because of such things as skin color GLBT status, etc regardless of qualifications. I have NO problem with minorities who are qualified. We have to go back to testing aptitude and IQ. If anyone does poorly on these it is because they lack aptitude and IQ and NOT because of their minority status per se. If more members of your particular group lack the necessary aptitude or IQ then so be it. Let’s go with aptitude and IQ and let the chips fall where they may.
- Realist in Atlanta
Posted by Realist in Atlanta at 5:51 AM on September 27
I agree with the posts above. Unfortunately though, all of us are going to pay a huge price for this stupidity. Whenever anybody ever again tells me that diversity is a good thing for this country, I’ll remind them of WaMu and the money grubbing, politicians, including Bill Clinton, who lowered bank regulations so that minorities could acquire home loans - all in the name diversity and that $700 billion that all of us are now being forced to fork over.
Posted by Gayle Sollenberger at 8:06 AM on September 27
Did WaMu stand for We are Messed up? People who saw the commercials must of thought so because they pulled their money out. It looks like the whole countrys messed up because you have to boycott most of the big cos. What did happen to Ford? They always seemed to make good trucks and their vehicles always seemed easier to work on. The whole country seems messed up and who or what can you trust? I saw in the paper where people are eating at home now. Is that because of all the bad food being imported? (tomatoes, peppers). Guess i will go watch the news to see what they are doing with the messed up financial mess.
Posted by at 9:16 AM on September 27
Laugh everyone laugh.
Unfortunately, we are the ones who will be paying for all of this, as usual.
In fact, most of us have directly paid for it already by paying a higher price tag on our homes. The prices were driven up by artificial demand created by companies like WaMu and our own government.
I figure my brother, who bought two years ago, paid at least a $100,000 premium on his home.
The joke is on us, but action and anger are the correct responses.
Posted by GWS at 9:19 AM on September 27
It was amazing!
WaMu was the first one to come out and say “We owe the Country and the World an Apology. We used the word diversity as a magic wand to make everything right for everyone. Well, almost everyone. Since, as Nietzsche once said “nothing is done without it being done at the expense of someone else; and anyone who doesn’t realize this has not taken the FIRST STEP in being honest with themself.” Well, we didn’t. And now we want to.
Now, we want to devote the same amount of time and energy in Accountability to all of you by making Amends, that we formerly put into what turned out a Nightmare of unrealistically high expectations and misplaced ideals. We only hope you find it in your hearts to forgive us.”
Like I said, it was an incredible omission of an obvious sin. And they should be applauded for their willingness to come clean and make amends. The only problem is -
It all happened in a Dream.
Still, ya gotta admit, it’s a nice Dream.
Posted by Dedalus at 9:21 AM on September 27
To cop:
There are a myriad of reasons for this mess. Speculation, greed, ignorance, hope, predatory lending, lies, well intentioned government regulation, etc. all contributed to this problem.
One of the core reasons was the push by non-governmental groups like ACORN and HOME among others to get minorities into their own homes because home ownership was redefined as a ‘civil right’. Getting ‘diversity’ in top positions to push their minority home ownership agenda was a contributing factor.
Check out this video about the ‘Community Reinvestment Act’. It gives an overview of what was driving new home ownership:
http://uk.youtube.com/watch?v=H5tZc8oH—o
Posted by sbuffalonative at 10:32 AM on September 27
This is to COP…(11:01pm Sept 26)
Here is the way I see things: When you go out of your way to hire a diverse workforce, you are no longer hiring the best people available. This “sub-optimal” Affirmative Action workforce makes more errors and mistakes, and also makes less intelligent plans for the future.
It is true that the government was forcing banks to lend to un-qualified low income persons (mainly minorities). However, it is possible that a more intelligent workforce at WaMu might have been able to figure out a way of minimizing the damage caused by this Government interference, and as a result the bank might have been able to stay in business. The “sub-optimal” workforce was a contributing factor to the banks failure.
Anyway, that is the way I see it.
Posted by aey99 at 11:20 AM on September 27
Why on God’s green earth would anyone invest in a bank that sounds like it was named after a killer whale at Sea World? (Any bank that doesn’t take themselves seriously enough to be able to live with the name, “WaMu” [WOO-HOO!]deserves to fail.)
Cop, the color of the bank employees’ skins didn’t cause the bank to fail, the weakness of their character and intellect caused it. Of course, there are Whites in the industry that are just as guilty on that point.
And I haven’t seen any posts dealing with the fact that we here at AmRen saw this coming at least two years ago. Check the archives. John PM, Robert Kelley, and others here pointed out the impending looting of the mortgage industry as far back as 2006, if memory serves.
Posted by Wild Eyed Charlie at 11:38 AM on September 27
Diversity IS a strength if …
Posted by Realist in Atlanta at 5:51 AM on September 27
No, it’s not. This is why modern technology is based on standarization.
Diversity means distraction in the best case. Out of several diverse populations, the most successful should prevail. Otherwise, we have “progress” backward, just like in the U.S. today.
Posted by A Reader at 1:11 PM on September 27
“Let’s go with aptitude and IQ and let the chips fall where they may.”
Posted by Realist in Atlanta at 5:51 AM on September 27
I usually agree with your posts, guy, but not this time. In hiring blacks, regardless of qualificatins, it is extremely important to first determine their mindsets to see if they put favoritism for their tribal kin above all else, as most of them do, because that in itself could destroy a company if the wrong decisions are made. Also, attitude is an important factor of consideration.
Posted by q at 1:50 PM on September 27
If you have high lending standards the financial crisis would never have happened but at the same time minorities won’t be able to qualify for mortgages. If you lower the standards they qualify but they lose their homes anyhow because they don’t have the income, assets or discipline to pay off the loan. I don’t see how you can compromise on this because there’s no middle ground. We either save ourselves and our civilization or we embrace diversity and suffer an economic disaster. Just imagine the future if we allow ourselves to become a minority in this country. There’s simply no way we could survive as a nation on the current path we are on.
Posted by Johnson at 4:29 PM on September 27
JP Morgan, which bought out WaMu is just as bad. All corporations are just as bad. They all figure that it’s worth it to pay the extortion money exacted by all the ‘oppressed’ groups, than it is to fight the endless lawsuits which will be brought to bear if they don’t pay off the Diversity Mob.
For a very good understanding of the Community Reinvestment Act and the whole subprime minority mess ordered by the Feds., go to:
Money-Lending and Affirmative Action
(an especially good article is “The Real Culprits In This Meltdown” By Investor’s Business Daily (Sept. 15, 2008))
Posted by Mike B. at 5:20 PM on September 27
The British had a very good idea of the financial abilities of their black subjects. In East Africa, the 10c coin (worth a penny at the time) had a hole through the middle so that they could string up their cash reserves and wear it around their neck for safekeeping.
Posted by ciccio at 5:44 PM on September 27
Stanley:
I want to thank you for the link to the Resisting Defamation site: http://www.resistingdefamation.org/sub/g49.htm.
Every single time I saw one of those commercials with a ‘sophisticated’, ‘erudite’ ‘urbane’ black man lording over Whites—all the while debasing, impugning, and mocking Anglo-Saxon bankers and banking institutions, I wanted to go postal.
I would NEVER do business with an institution that makes fun of Whites. NEVER. I only wish more Whites felt this way.
From the link provided by Stanley:
“…Our first winner of the Julius Streicher Award is Leo Burnett, a well known advertising expert, who developed a campaign to smear ‘old white guys’ in television ads for Washington Mutual. Older European American men are portrayed as greedy, ugly, and stupid…His advertising firm and Washington Mutual have a joint web page here which shows his racist and sexist video spots which easily qualify Leo Burnett for the Julius Streicher Award….”
And in response to well-deserved criticism, Wilhelm received this from WaMu: “…I… received a brief email back that the ads were meant as a light-hearted poke at traditional banks….”
Nonsense.
Those ads were a blatant, racist, all-out attack on the White community and White institutions, White males in particular.
What does that idiot Leo Burnett think would have happened if he ran a commercial depicting a sophisticated White man pulling a cage full of unintelligent blacks behind a golf cart?
He would suffer the same fate as Julius Streicher: Hanged until dead.
Yes, I do understand that ultimately tax-payers will pick up the bill for this specious government-created melt-down but I must admit I absolutely gloated when I heard yesterday that this racist institution went belly-up. And yes, I believe we are in for very hard times ahead (which will it be? A depression or uncontrolled inflation?)
At times, there is some justice, however small, and the universe rights itself a little more.
WaMu got exactly what it deserved.
Bon
Posted by BonBon at 7:40 PM on September 27
These disingenuous bankers genuflecting at the alter of diversity, reminds me of five or more puffing cigar smokers, riding with me in a small elevator, telling me how good second hand smoke is!
There will never be a sequel to these politically correct commercials; but, rest assured, old MoMo could sure fashion one, and fashion one for free too!
Picture the twenty or so old guys standing at the bar on the nineteenth hole, Scotch in hand, when one turns to the other and says: “What ever happened to that African - American whiz kid we met with all those new ideas?” The other guy replies: “He ain’t coming … he and his company just got whizzed!” Everyone laughs!
As a great philosopher once said: “stupid is as stupid does!”
MoMo
Posted by MoMo at 7:58 PM on September 27
To those that responded to my earlier post:
I am in full agreement that the relaxing of credit standards is the primary reason that these financial institutions are going under. The pressure applied by the ACORN’s, Jesse Jackson’s, Al Sharpton’s, and liberal politicians so as to increase minority home ownership started this fiasco. To them, being called racists and being threatened with lawsuits were enough to make these banks cave. However, Washington Mutual was not the only bank that went against conventional wisdom and handed out money to those that had no means to repay the debt. WaMu may be ultra-liberal in their employee policies, even moreso than others, but they ALL made the same disasterous decision of caving to the race hustlers by lowering or eliminating credit standards, regardless of the ‘diversity’ of their employees.
WaMu may have more liberal employee policies than Bear Stearns, Freddie Mac, Fannie Mae, Indy Bank, AIG, as well as others, but they are all meeting the same fate. They may not all have equally disgusting employee practices as WaMu does, but they all put their eggs in the failed basket of political correctness when it came to investment decisions. This is where their (and our) downfall occurred, proving yet again that diversity is not our strength and multiculturalism is in fact a weakness.
Posted by Cop at 9:44 PM on September 27
Minorities, affirmative action and diversity are responsible for the largest financial crisis this country has ever seen. Yet there are people out there who think that an unqualified black man running for President with no experience in anything or knowledge of economics will usher in a new age of prosperity for this country.
Posted by at 10:23 PM on September 27
yes, I believe we are in for very hard times ahead (which will it be? A depression or uncontrolled inflation?
Probably both. Plus a third: devaluation. I foresee all three.
WaMu got exactly what it deserved.
Bon
But those directly responsible will not pay. The public will.
Posted by ghw at 12:01 AM on September 28
JP Morgan Chase just purchased WaMu from the federal regulators (Wamu is by far the largest bank to ever fail in U.S. history) for only 1.9 billion USD. Quite a good deal if you ask me.
Unemployed WASP
———————————-
I worked at Chase in the late 60s when it started going black (under intense government pressure). They tended to favor hiring West Indians then. These were black enough, but they satisfied government mandates for minorities.
Now, at the local Chase branch in my neighborhood, I have not seen a white employee IN YEARS. Clerks and bank officers, they are ALL black or Hispanic. I can’t remember the last time I saw a white one.
I wonder when Chase will be next?
Posted by at 12:26 AM on September 28
Moral of the story?…Let competence be the criteria next time you hire,.. even if you have to hire white male hetero’s… they can be hidden from sight in a cubicle.. but if their competent its worth it. You can hire dark people and transgender people and put them in plain view to give the appearence of modernity and kindness etc.
Posted by Petrarch at 12:26 AM on September 28
stewart.landefeld@wamu.net (CLO)
(and if anyone knows what a CLO is, please share)
Posted by Sonya
Stu Landfeld? Chief Loan Officer, I would assume.
But that CEO is the one that gets my attention the most.
Posted by at 12:38 AM on September 28
The British had a very good idea of the financial abilities of their black subjects. In East Africa, the 10c coin (worth a penny at the time) had a hole through the middle so that they could string up their cash reserves and wear it around their neck for safekeeping.
The Thais, Laotians and Cambodians had a similar coin (satong) that was used away from the cities, and as I recall, it had no value at all in the cities, but you could get a pepsi for 4 of them out in the jungles.
Posted by he Tha at 2:18 AM on September 28
Can anyone tell me what the viability of BB&T bank is?? and it’s possible association with this WaMu fiasco.
Posted by Skip at 2:42 AM on September 28
As a Washington Mutual Depositor I can tell you nothing but negative things about it. In a big city, where I live, they’ve hired nothing but young kids as tellers - and ALL non-Whites. The bank safety deposit boxes are junk, and what I mean by that is that the keys don’t work very well and every time I place something there it takes 10 minutes or so just for one of their employees to find the right key, and then the keys and/or the locks are defective as well!
Wamu instituted an overseas-based customer service dept. located in the Phillipines. They started this a few years ago. To break people in easy it was only on weekends after 12 midnight, then all weekend, then weekends plus weekdays after midnight, then finally all of the time. I had many negative experiences with these Phillipinos. They had very limited knowledge; as a matter of fact one didn’t know what a canceled check was!! If they couldn’t answer your question, they would leave you on hold and then hang up. Both the Customer Service reps AND their supervisors would do this. Both reps and supervisors were Phillipino and they seemed to take a protective stance for themselves. The Phillipino reps also had the remarkable ability to avoid answering your direct questions about your account - the questions they didn’t have the answers to. They would answer questions that weren’t asked and contradict themselves from one sentence to the next. On one occasion I asked for new checks and they sent checks with the wrong address on the checks. At one point they stopped sending me my canceled checks and I asked them to start again; they sent me copies. The Phillipino reps’ brand of English and their accent also makes it difficult to understand them sometimes. It was just one frustrating experience after another. It also took a great deal of legwork just to get their U.S. telephone number - to complain to their corporate office. The customer service people in the Phillipines would not give it out. It’s incredible - the lack of quality of this so-called bank.
It is no surprise that they’re a “Top diverse employer”. It is also interesting to note that their acronym - WAMU - SOUNDS LIKE SOME SORT OF TRIBE IN AFRICA.
Posted by Wamu depositor at 2:53 AM on September 28
“the person who had the key to the bank came in half-naked on top with a dirty pair of jeans and flip-flops…she went inside and quickly changed and put on a wrinkled Wamu-T shirt to start helping customers”
My father worked in a small town bank for twenty years, retiring in 1980. I remember as a child in the 70’s going to visit him at work and will never forget how hushed and solemn, almost church-like, the bank seemed to me. Every teller, and certainly all of management, was dressed conservatively.
My father let me behind the cage once and I noticed a .38 revolver in the money drawer. To a young boy of eight or nine seeing the pistol was very exciting and I asked him what he was supposed to do with it in case of a robbery. He said while there was no specific policy, if the teller felt he needed it, it was there to be used. (These weapons stayed in the drawers at all times.)
Of course the bank was run by white men who wanted to project an air of authority, control and trust. White men who looked very much like those who were mocked in the Multi-Cult anti-white commercials of Washington Mutual.
Imagine the PC young women mentioned above opening her cash drawer one fine morning and finding a handgun sitting there! I’m sure the bank would go into “lock-down”, the young woman would require months and months of “counseling” and the bank would soon run a new ad campaign boasting, from that moment on, that all branches were now “gun free zones”!
How times have changed.
Posted by P-51 at 3:38 AM on September 28
I just opened a new separate account with FSNB (Ft. Sill National Bank) which has now opened branches in two Walmart stores here. It’s pretty convenient since we do a lot of shopping at WM.
But I noticed everytime I go into the bank that the tellers are all white and the supervisors are all black.
Posted by Gayle Sollenberger at 7:29 AM on September 28
“JP Morgan Chase just purchased WaMu from the federal regulators (Wamu is by far the largest bank to ever fail in U.S. history) for only 1.9 billion USD. Quite a good deal if you ask me.
Unemployed WASP
———————————-
I worked at Chase in the late 60s when it started going black (under intense government pressure). They tended to favor hiring West Indians then. These were black enough, but they satisfied government mandates for minorities.
Now, at the local Chase branch in my neighborhood, I have not seen a white employee IN YEARS. Clerks and bank officers, they are ALL black or Hispanic. I can’t remember the last time I saw a white one.
I wonder when Chase will be next?
Posted by at 12:26 AM on September 28 “
No time soon. Their financial statements look sterling to me (and I’m one of those middle aged restructured MBA/IT administrators that can’t find a job today so recareering back at college for another Master’s this time in the medical field.. lol) and know how to read them. Their net income has doubled since 2003 and is going up as we speak (along with the value of their stock). Buying WAMU at THAT price was a basement bargain that will make them a lot more money down the road.
JP Morgan is another diversity whore to be true (they won the “Workplace Excellence Award 2006” by Out & Equal, an advocate group devoted to the lesbian, gay, bisexual and transgender community in the workplace for example) but one thing they practice, something that WAMU did not, so far has been conservative lending and ensuring their officers are well qualified white men which saved them.
Posted by Unemployed WASP at 11:12 AM on September 28
“Washington Mutual, Inc. (NYSE:WM), one of the nation’s leading banks for consumers and small businesses, has once again been recognized as a top employer by Hispanic Business magazine and the Human Rights Campaign.”
WaMu is now bankrupt. However much the egalitarians try to deny it, two plus two never fails to equal four.
Posted by Eichmann at 12:44 PM on September 28
Remember those WaMu commercials? A black male played the straight guy…and he would talk condescendingly to a bunch of ignorant acting white males who were suppose to be “bankers” that represented the other banks; not WaMu. There were variations to the commercial … but the same characters and theme were always in them. I was sickened watching white males portrayed (intentionally) like this, made to always play the fool in front of a black male. Needless to say, I am delighted WaMu is history.
White males need to be far more aware of the insulting way in which television is being used to portray us.
Have us seen the new Jack-in-the-Box commercial? Two adult white males … in shirt and tie …being pushed around in a baby carriage…
Posted by at 1:02 PM on September 28
“I just opened a new separate account with FSNB (Ft. Sill National Bank) which has now opened branches in two Walmart stores here. It’s pretty convenient since we do a lot of shopping at WM. But I noticed everytime I go into the bank that the tellers are all white and the supervisors are all black. Posted by Gayle Sollenberger at 7:29 AM on September 28
It’s similar to where I live, Gayle, only it’s the tellers who are black. For years every black teller they hired was just too contentious and dim to do the work. These appear to be the same way, but for some reason now they’re keeping them. I heard one of them tell a white teller, “Uh Uh. I’m not doin’ that. It’s not my job.” Then she turned around and got on the phone. I wrote a letter to management and told them I thought her attitude was deplorable and that I had drawn out half my money and would be taking out the rest after the first of the month, because of the poor attitude of their help.
Whether or not it will do any good, I don’t know, but this is my small way of refusing to cooperate with their policy of giving AA to underserving people, especially ones who resent me and white people in general.
After the drugstores in this area were sold to CVS, I’ve seen black faces at the cash registers, and I exchanged some harsh words with a little black, dwarf-looking, male stooge afterwhich I told the manager he resented me because I was white. She looked as if I just hit her in the face with a board she was so stunned.
I refuse to give them any business also. The odd thing about this recent influx of blacks is that my immediate area for several miles in every direction (small town) amounts to only about 1 or 2% blacks.
I think we’re seeing the same kind of sub-prime AA that caused all the trouble from other private enterprises as we did from the lenders. These divsity pigs will push for blacks even if they go broke. If there’s enough people like me around, that’s just what will happen too.
Posted by q at 3:14 PM on September 28
So that’s why they “tubed out”. Just another example of the blessings of diversity. This is just another example why it is very important to keep things white if you want to have success.
Posted by at 7:03 PM on September 28
The description of the above collapse is a sign of much more than just another diversity bank going down.
It’s Sunday night, and I’ve been scouring the internet for news in Europe and Japan to see if this bailout Pelosi claims has been agreed on is going to make the global economic situation better, slow it down, or make it worse, and some of the stories I’ve popped up from mainline news sources are much more negative than I ever anticipated.
Most experts are saying the US is finished as the top economic global power after this last disaster no matter what. And some are declaring that we’re going to go into a depression, bailout or not, that will be many times worse than the crash of 29 and thereafter.
In response to that, all I can say is that those of us on this forum and elsewhere have practically begged these elitist snobs to return to sanity on this diversity nonsense, but they’ve been far to arrogant to listen to anybody, confident that they know better than anyone else, and they’ve answered our warnings with charges of racism and hate. The above article is a perfect example of the arrogance of the diversity pigs.
As it stands now, the best we can hope for is to be a second-rate super power with nuclear arms. The worst that will happen is that hard times WILL develop into a disaster scenario of major proportions and this multiculral madhouse is going to have the civil upheaval that many have been warning about.
If anybody has any doubts whether tribal factions can get along during a severe drop in the economy, all they have to do is wait around a bit longer and be a living witness as to what is going to unfold in the coming year, maybe less.
Well, how about it, lefties and neo-cons, is diversity still our strength?
To the self-appointed elites I’d just like to say, aren’t you glad you pushed so hard for the importation of third world hordes?
Didn’t we try to tell you that pushing for the rainbow utopia is a foolish goal?
Tom Chittum: Do you have an update for us? If so put it on this forum!
Posted by ice at 8:28 PM on September 28
Diversity?
Well, I suppose most of you will need to grit your teeth.
“They are coming!”
http://wonkette.com/403061/they-are-coming
The general concensus is that the webpage was changed because current WaMu customers (who will become Chase customers in 2010) could not bear the truth and consequently became very angry.
Have a pleasant evening.
Posted by Electrical Engineer at 12:05 AM on September 29
Stupidity. The fact remains that the whole problem is Bush and his neocons and their bogus Iraq war that caused the whole economic crisis when zeocon Greenspan lowered the rates to 50 yr lows and the idiot spendthrift in the WH pushed for black home ownership.
Daddy Bush always bitched about high rates and blamed Greenspan for his losing to Clinton after 4 yrs so Greenspan made it up to the idiot son and this is what happened.
Bogus economy bogus war and now the advent of the black jesus messiah thanks to Bush and his zeocons and of course ex-Goldman Sachs CEO zeocon Paulsen is furthur destroying America bailing out his zeocon invest corps.
Bush the drunken idiot pawn puppet stands by agreeing to everything these vipers demand.
Posted by at 7:30 AM on September 29
Yeah, right. It’s all that diversity on Wall Street that caused the financial meltdown … all that diversity that sunk Lehman Bros, Bear Stearns, Wachovia, et al … all that diversity that brought us the Katrina disaster, the Iraq debacle …. O god, where will all this diversity end? If only we could rid ourselves of the US Constitution!
Bigots always find a minority to blame when their own greed and bankrupt philosophies bring the country to its knees.
Posted by jim at 10:25 AM on September 29
Wow — so the first round of commenters actually think the financial crisis was brought on by a commitment to social equality and not by corporate greed? And the reason for the financial collapse is the marketing department and not the lending department>? And that the problem with all these bad loans is the (economically and racially diverse) loanholders, and not the (profit-seeking) lenders?
Unbelieveable. What a bunch of aholes these commenters are! I see why you all work in banking!!
Posted by JR at 10:48 AM on September 29
Here is the link to the executive board of WaMu:
https://www.wamu.com/about/corporateprofile/executivesandmanagement/default.asp
All of them appear to be Caucasian, except for Mr. Fishman whose picture is not shown.
Many of you claim that it was African Americans and/or Hispanic Americans who brought WaMu down. Not really. It was the people shown at the above link that brought WaMu down.
Just something to remember.
Have a pleasant morning.
Posted by Electrical Engineer at 11:32 AM on September 29
Well, the good book says “an eye for an eye”, Karma teaches us “What goes around comes around”. It seems as if the business practices of WAMU has proved these teachings to be correct. Wamu was not only hiring minorities, gays and lisbians but also conducting “QUEER” business practices as well. You got what you deserve in the meltdown but it seems as if the U.S Taxpayer will be force to bail your sorry ass out. The next time, do be so confident that we will do so. Someday soon you will see a revolt by the U.S. Taxpayer, hell we had a “TeaParty” over a 3 cent tax increase, or does not you liberal teachings inform you of such?
Posted by at 12:15 PM on September 29
This website promotes views on race that I have examined, tried out in my life, and found to be useless, depressing, and hateful. I haven’t found any reason to obsess over race like this. I know I can’t change the way you look at life by posting here, but I hope you’ll consider some other points of view from time to time. I promise I will too.
Posted by at 12:47 PM on September 29
Yeah, it was the employment of black people in the branches to tender cheques that caused the crisis, not the straight white men heading the MBS and CDO departments at investment banks or hedge funds.
It must be odd to live in a reality where race is the central theme that shades every interaction.
Posted by Bellevue Ave at 1:49 PM on September 29
If I have this straight, Washington Mutual isn’t really a bank; it is an employment agency/charity for sexual degenerates and dysfunctional minorities that - while still solvent - pretended to be a bank in order to obtain access to $15 billion from unwitting depositors in order to further its anti-American, anti-mainstream employment preferences. Their lending practices were doubtless just as twisted.
I have a better idea; let a second grade class and their pet gerbil run a bank.
When I see freaks or blacks at anything other than a government office, I stop doing business with that organization immediately. Yes, a private business is entitled to enact “diversity” hiring practices in order to make its staff look like a carnival side-show, but I vote with my wallet. When I enter a bank or store, I expect an atmosphere different from that inside the Post Office or Department of Motor Vehicles.
Posted by Michael C. Scott at 3:32 PM on September 29
Y’all a bunch of dopes! OBAMA 08!
Posted by tictoc at 5:03 PM on September 29
Yeah! Clinton, Bush, and all the white presidents are destroying our country. I hope Obama wins.
Posted by at 5:16 PM on September 29
Realist in Atlanta wrote:
Diversity IS a strength if it means that you do not exclude anyone from consideration in hiring and promotions because of minority status. Diversity IS NOT a strength if consideration is given because of such things as skin color GLBT status, etc regardless of qualifications. I have NO problem with minorities who are qualified. We have to go back to testing aptitude and IQ. If anyone does poorly on these it is because they lack aptitude and IQ and NOT because of their minority status per se. If more members of your particular group lack the necessary aptitude or IQ then so be it. Let’s go with aptitude and IQ and let the chips fall where they may.
I agree. It’s too bad that the concept of merit has become so undermined.
Posted by Bill Black at 7:38 PM on September 29
*Yeah! Clinton, Bush, and all the white presidents are destroying our country. I hope Obama wins.*
And you believe what all the black leaders have done for Africa is preferable? It wasn’t our white Presidents that are destroying OUR country. It’s pandering to the whiney minorities that is destroying it.
Posted by at 8:03 PM on September 29
“Bigots always find a minority to blame when their own greed and bankrupt philosophies bring the country to its knees.”
Posted by jim at 10:25 AM on September 29
And leftist radicals are too dimwitted to analyze a situation correctly, and they spout inane assertions that plainly indicate they know absolutely nothing about the situation being discussed.
Posted by q at 8:07 PM on September 29
“This website promotes views on race that I have examined, tried out in my life, and found to be useless, depressing, and hateful. I haven’t found any reason to obsess over race like this. I know I can’t change the way you look at life by posting here, but I hope you’ll consider some other points of view from time to time. I promise I will too.
Posted by at 12:47 PM on September 29”
We don’t have to consider “some other points of view from time to time,” we have them shoved down our throats daily. When you turn on most of the cable and network news outlets and see them openly gleeful that this country is in a financial cyclone, so that their favored suckling mulatto can have a better shot at the White House and “change” this country, that is evidence enough of that hard fact of life.
Just something to think about!
*KRONOS*
Posted by John PM at 8:19 PM on September 29
“Y’all a bunch of dopes! OBAMA 08!”
Instead of posting this lame one-liner why don’t you engage us in a conversation with talking points to dispute what most of us already know, that diversity is bad for business.
Posted by at 8:54 PM on September 29
To Jim @ 10:25 AM, JR @ 10:48 AM, Electrical Engineer, 12:47 PM, Bellevue Ave, and tictoc: This is the sub-prime loan crisis. Sub-prime loans were devised in order that non-Whites with bad credit could get house loans. The Clinton administration claimed that banks were practicing “discrimination in lending”, as if banks were unwilling to make profits from Blacks. Bill Clinton threatened them, so the banks lowered their credit standards. If you were reading the newspapers ten years ago you might remember this, but if not, Amren has an article from the NY Times posted for you to read. That is why we hold that “diversity” has brought this upon us.
But no White nationalist is claiming that the banksters are innocent in this. If they’d not been so greedy, counting on Uncle Stupid to bail them out, or if they’d had the nerve to fight back, they could have maintained solvency. If you looked at this site as a whole instead of just following a link to one article, you’d know that most of us believe that White elites are the greatest threat to our nation and culture.
Posted by Schoolteacher at 2:15 AM on September 30
JR,
”Racially diverse loanholders”? Was it not blacks that were kicking and screaming when their rates adjusted? Were we not told over and over by minority grievance groups and their enablers in the MSM and Congress that this subprime mess is disproportionately affecting minorities?
Also, ”commitment to social equality” is a noble sounding, but unattainable goal. This social experiment has been tried for 40+ years and the results of this ”Great Society” have been a complete and utter failure. This commitment to social equality has even been expanded to include preferential treatment at the expense of whites, yet these people are STILL disproportionately represented in every negative statistic in America. From crime rates to drop-out rates. From STD rates to 70% out of wedlock birthrates. From unemployment rates to incarceration rates. On and on it goes, yet liberals such as yourself still insist that if we expand your failed social programs just a little bit more, somehow they will work this time.
Eventually, you will more than likely see the errors of your thinking, just as many of those that came before you have done. The problem is that by the time the brainwashing wears off, a new wave of wide-eyed kids will replace you, spouting the same failed programs that you and those before you swore would do the trick. The people that your kind have tried to help have been in this game much longer than you and they know how to manipulate and play on your sympathies. And they will still be there playing the next group of young Marxists after you and your peers have finally come to your senses. I deal with these shiftless people on a daily basis. I see the men sitting on their rundown porches while trash remains piled up all around them. I see these same men years later, still sitting on the same rundown porch, with trash STILL piling up around them. If illegal aliens can sneak into America and find work, then blacks can certainly do the same. Your kind, with your failed liberal programs, have removed any incentive for them to do so.
Regardless of your good intentions, you will never be able to help those that are capable but unwilling to help themselves. Stop treating them like the children you believe them to be. Instead, give them the dignity of standing on their own two feet without someone constantly having to prop them up just to survive. I know it gives you warm and fuzzy feelings and a sense of superiority, but you are doing them no favors by constantly pandering to them.
Posted by Cop at 9:03 PM on September 30
WAMU’s subprime arm was LONG BEACH MORTGAGE, I worked for LBM for about six months and left. I was an underwriter, and did not want this to reflect on my resume.
Long Beach Mortgage was fraught with business practices and employees that gained attention of law enforcement.
That is all I will say… The results are predicted correctly, WAMU failed due to their lack of prudent quality control of mortgages.. They tried to show “concern” but never stopped the disease that eventually ate away at their solvency.
Posted by dinochick at 10:39 PM on September 30
““Bigots always find a minority to blame when their own greed and bankrupt philosophies bring the country to its knees.”
Posted by jim at 10:25 AM on September 29
And leftist radicals are too dimwitted to analyze a situation correctly, and they spout inane assertions that plainly indicate they know absolutely nothing about the situation being discussed.
Posted by q at 8:07 PM on September 29”
The coming civil war will not be black vs. White, White vs. Hispanic, etc.
It will be Whites vs. liberals, of any color.
Posted by at 11:35 PM on September 30
“Bigots always find a minority to blame when their own greed and bankrupt philosophies bring the country to its knees.”
Posted by jim
Well, in this case, make it the “majority” that is to be blamed. (While we are still a majority, that is.)
Posted by at 4:02 AM on October 1
Electrical Engineer at 11:32 AM on September 29 wrote:
“Many of you claim that it was African Americans and/or Hispanic Americans who brought WaMu down. Not really. It was the people shown at the above link that brought WaMu down.”
Actually, as factual documents clearly show, it’s the following people who are primarily responsible for what happened to “WaMu.”
http://www.flickr.com/photos/stijnvogels/2551274102/
http://www.flickr.com/photos/anamariasegura/354940958/
I hope you have an unpleasant life; I really do.
Posted by at 4:17 PM on October 1
WaMu shares traded last year in the $35 range.
Today, WaMu closed at .08 cents a share.
Posted by at 9:24 PM on October 1
“WaMu today closed @ $.08 a share.”
——————————————
Most interresting. Especially so in light of the fact that I read just today that its CEO, Alan Fishman was paid $19 million in the last weeks! … as follows:
GOLDEN PARACHUTES: [on AOL]
Alan Fishman
Total: $19 million
Company: Washington Mutual
Fishman was paid $19 million for three weeks of work. He joined WaMu on Sept. 8 and left on Sept. 25, 2008. The bank was seized by the FDIC — the largest bank failure in US history — and parts of it were bought by JPMorgan Chase.
Posted by ghw at 2:00 AM on October 3