This time, it’s in the housing market, via the Federal government-run Fannie Mae and Freddie Mac.
The plans released last week [by FHFA, which regulates Fannie and Freddie] might have been written by California Representative Maxine Waters (D). Central to Fannie’s plan are “Special Purpose Credit Programs” that increase access to credit and encourage “sustainable homeownership for Black consumers.”
One program would assist black borrowers with down payments. Most home-buyers are required to put down at least 20% of the cost of a new home to reduce the risks of default. Fannie’s plan would effectively require taxpayers to subsidize down payments for black borrowers.
It goes downhill from there.
Once again, Party explicitly favors one group of Americans while explicitly disfavoring another group of Americans—solely on the basis of race.