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Thursday, April 29, 2010

The NAACP Sold Blacks Out

It's time to expose the national headquarters of the NAACP for who they are and what they and other groups are doing against us!

Thank you bloggers Faye Anderson and Dr. Boyce Watkins for exposing the NAACP willingness to sell black folks to the highest bidder, Wells Fargo. Yes the NAACP dropped its predatory lending lawsuit against Wells Fargo, and now is the NAACP's biggest sponsor for the NAACP's annual convention, to be held in July.

After Wells Fargo Bank ripped black folks for billions of dollars of home equity, and  hundreds of thousands of predatory foreclosures, the NAACP has decided to team with Wells Fargo for part II and III of the big Financial Rip Off of Black Urban, Rural and Suburban land. All for a million dollar contribution from Wells Fargo, to support the NAACP Convention. Billions of loss land versus a million dollar contribution. 

I guess the NAACP Does not know the facts:
The total loss of wealth for people of color is estimated to be between $164 billion and $213 billion for subprime loans taken during the past eight years. We believe this represents the greatest loss of wealth for people of color in modern US history.

From subprime loans, Black/African American borrowers will lose between $71 billion and $92 billion, while Latino borrowers will lose between $75 billion and $98 billion for the same period.

According to federal data, people of color are more than three times more likely to have subprime loans: high-cost loans account for 55% of loans to Blacks, but only 17% of loans to Whites.These are the facts. Now one has to question:

Is the new NAACP leadership young and stupid? So you thought you were getting better leadership from the NAACP because of the new leaderships youth? "Looks like older black folks on the NAACP Board are still pulling the strings."

Let's talk about why the national office of the National NAACP sold us out, and how other so-called black groups like them, need to be exposed for who they are - tonight, on African American Political Pundit's "Political Slugfest."

"If you can handle the truth."

 



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