coded01:
Past loans haven't always benefited the people.

In a functional country, these funds would greatly benefit the people!

We must ensure this money doesn't get misused and improves our lives.

Jusdamian:
PHOTO LOAN

coded01:
Past loans haven't always benefited the people.

In a functional country, these funds would greatly benefit the people!

We must ensure this money doesn't get misused and improves our lives.

atiku4President:
For what nah? Hope the money will not be used for celebrating Nigeria's independence next October

mrvitalis:
We used to get loans in multi billion dollars
Now a few billion dollars NNPC is struggling to get 2 billion dollars loan

The world Economic and financial lenders know your worth

Soon loans would be in 10s of millions of dollars

Funny thing is we know that restructuring Nigeria along tribal lines like every other country like us.. China India, Japan, Malaysia, Indonesia, UK, Germany, Italy, Spain and the others is the only way to grow

But we keep beating about the bush... We have done that for 60 years... I wonder when we would learn

mrvitalis:
We used to get loans in multi billion dollars
Now a few billion dollars NNPC is struggling to get 2 billion dollars loan

The world Economic and financial lenders know your worth

Soon loans would be in 10s of millions of dollars

Funny thing is we know that restructuring Nigeria along tribal lines like every other country like us.. China India, Japan, Malaysia, Indonesia, UK, Germany, Italy, Spain and the others is the only way to grow

But we keep beating about the bush... We have done that for 60 years... I wonder when we would learn

Ikemba007:
The real shame is that we are still borrowing everyday?

mrvitalis:


Funny thing is we know that restructuring Nigeria along tribal lines like every other country like us.. China India, Japan, Malaysia, Indonesia, UK, Germany, Italy, Spain and the others is the only way to grow

But we keep beating about the bush... We have done that for 60 years... I wonder when we would learn

IbeOkehie:


Well that's correct but two problems or maybe observations.

First Nigeria had that chance in 1954 and rejected it. Those who care can go read the history.

Second, those benefiting from the current framework will not voluntarily restructure. The Negro is inherently and unfortunately socialist.

Good Luck to Nigeria.

mrvitalis:

The biggest beneficiaries of one Nigeria today by tribe are the igbos because of unrestricted access to markets

Outside that it's just elites

No body is benefiting from Nigeria... It doesn't work anyone

IbeOkehie:


Why drag tribe into this? And your argument is sketchy on top.

Every Nigerian has unrestricted access to markets, so where is the Igbo advantage?

An Igbo has to score 100 to enter University or FGC where a Fulani can enter with a score of 15. That's definitely not an Igbo advantage.

So where is the gain? I can't make a tribal argument though because the same Igbo support Affirmative Action and forced integration in the USA.

Negroes are socialists. That's the real issue.

Good Luck to Nigeria.

mrvitalis:

Most ngros are but 65% of igbos are capitalist... That's y they are seen as greedy n aggressive

Socialism can never lead to development because u can never eradicate corruption and it kills daring n innovation

IbeOkehie:


Most Igbo I know living in the USA support Affirmative Action and DEI. That's not capitalist

I'd like to know your opinion on that.

Good Luck to Nigeria.

Gerrard59:


They are selfish in that regard because it reduces the competition from uber-competitive Asians (Indians and Chinese). It is funny how the same Igbos kick against quota system in Nigeria, but support affirmative action in the US.

cococandy:


Oh yes indeed she said she’s a devout republican. Like it’s a religion of some sort. Meaning they can never see anything wrong in anything he does.

God forgive me the day I choose to be devoted to another human being who rapes children, incites violence (the kind that killed her husband), lies, cheats, defrauds people and is a racist megalomaniac.

I’ll donate my brain to the lab for it to be studied if I ever fall into such a deep brainwashing that I lose all dignity and humanity

IbeOkehie:


People like him and Madam Cococandy are the real danger to the USA.

I've already told the story of my million dollar earning friend still complaining about racism. Someone in the top 1% of USA earners still sees himself as a victim of racism. And our Igbo are the worst, they come as a guest to a country and want to dominate the owners of the land and call them fools. Any wonder the Sarduana said what he said in that famous BBC interview in the 1950s.

My bros, the thing is mind blowing. In fact in our discussions he always emphasizes that the racism is SYSTEMIC. So I asked him how a systemically racist system allowed a Black colored Negro like him to rise to the top 1% and he can't answer. In fact a systemically racist system wouldn't even let him become a USA citizen. Oh, and he was always saying he doesn't mind paying more taxes. Just like Warren Buffett

Many of these people don't realize or refuse to acknowledge that in a free market capitalist system, the rising tide will lift all boats in the long term. That's why Black American descendants of slaves are the riches set of Blacks in any country on earth. Like I often tell my liberal friends, Jeff Bezos went from $300K to $100 billion net worth in 30 years, me I went from $0 to where I am now....he improved and me too I improved to the extent I live better than 95% of Nigerians where I grew up. What's the problem?

You only have to look at California to see what's going on. I've tried to tell you what is really happening. I suspect an American Reformation is coming in this our year 2015 and it's about time.

Good Luck to the USA.

cococandy:


The real danger of the United States is people like you who have individualistic mindset. This is typical of the republican person. They can’t fathom fighting for something unless it personally benefits them.

No one country would be in a good place if the successful people decide everything is okay and we should remain at status quo. What that does is create a big gap of slim ultra wealthy, thin middle class and plenty of impoverished people who will forever be impoverished.

Racism is systemic. Your friend is a smart person who hasn’t let the fact that he earns well cloud his sense. There’s more to society than money if we even want to speak on it. But even if we just focus on money, the systemic racism is the reason why your friend probably put in 10x the amount of work it took for a white person on his level to get to where he is.

The funny thing is that if you’re not making 500k/yr or even more, you’re closer to the person making 50k and more likely to be affected by the corporate welfare system the republicans endorse than the system of equitable taxation and representation. Some people start making 6 figures & own some choice properties then they think they can be like Jeff Bezos. Hence they hate the democrats and their “socialism”.

But it is brainwashing because your taxes aren’t going to get smaller under the republican government. It will get bigger. It just happened after Trump put in worse tax polices and left office didn’t it? You’ll pay more and it will go to the billionaires while you still aspire to be like them when they are the reason you will never get there.

The ultra wealthy who have sold you (generic) the idea of a free market economics only love when it favors them. When free market favors the common man, they move quickly to stop it. Reminisce on GameStop if you would. The so called free market is rigged from the beginning to never let you get past a certain level in life and you will never see it because you think you’re closer to Elon Musk in wealth rather than the poor man who makes $50k/yr who truly is more your financial peer even if you’re making multiple 6 figures.

If we’re looking at California to see what’s going on. Can we be truthful about how we are your sugar mommies please? We give you money and you send your homeless to us because you don’t have social programs to take care of them. Yet you turn around to insult us.

All the conservatives states are the biggest loser states in America. Draining the country financially without adding as much money back to the economy. Depend on us and New York for handouts yet have everything to say against handouts.

Fannie Mae Eases Credit To Aid Mortgage Lending

By Steven A. Holmes
Sept. 30, 1999

In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.

The action, which will begin as a pilot program involving 24 banks in 15 markets -- including the New York metropolitan region -- will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.

Fannie Mae, the nation's biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.

In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates -- anywhere from three to four percentage points higher than conventional loans.

''Fannie Mae has expanded home ownership for millions of families in the 1990's by reducing down payment requirements,'' said Franklin D. Raines, Fannie Mae's chairman and chief executive officer. ''Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.''

Demographic information on these borrowers is sketchy. But at least one study indicates that 18 percent of the loans in the subprime market went to black borrowers, compared to 5 per cent of loans in the conventional loan market.

In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980's.

''From the perspective of many people, including me, this is another thrift industry growing up around us,'' said Peter Wallison a resident fellow at the American Enterprise Institute. ''If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.''

Under Fannie Mae's pilot program, consumers who qualify can secure a mortgage with an interest rate one percentage point above that of a conventional, 30-year fixed rate mortgage of less than $240,000 -- a rate that currently averages about 7.76 per cent. If the borrower makes his or her monthly payments on time for two years, the one percentage point premium is dropped.

Fannie Mae, the nation's biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.

Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic whites.

Home ownership has, in fact, exploded among minorities during the economic boom of the 1990's. The number of mortgages extended to Hispanic applicants jumped by 87.2 per cent from 1993 to 1998, according to Harvard University's Joint Center for Housing Studies. During that same period the number of African Americans who got mortgages to buy a home increased by 71.9 per cent and the number of Asian Americans by 46.3 per cent.

In contrast, the number of non-Hispanic whites who received loans for homes increased by 31.2 per cent.

Despite these gains, home ownership rates for minorities continue to lag behind non-Hispanic whites, in part because blacks and Hispanics in particular tend to have on average worse credit ratings.

In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae's and Freddie Mac's portfolio be made up of loans to low and moderate-income borrowers. Last year, 44 percent of the loans Fannie Mae purchased were from these groups.

The change in policy also comes at the same time that HUD is investigating allegations of racial discrimination in the automated underwriting systems used by Fannie Mae and Freddie Mac to determine the credit-worthiness of credit applicants.

IbeOkehie:


Ma'm, substantially all you've said above is wrong, I don't even know where to begin. I'll pick just two.

(1) If my friend is so brilliant, why didn't he stay in his own country and make it better?

OK, if we can justify his coming here, can we justify him now calling the country racist, the same country that admitted him and gave him opportunity? I repeat, Igbo people have a high tendency to gleefully make fools of other people and exploit their kindness and fairness. We both know the high levels of fake marriages to Black American women for Green Cards and many other forms of cheating the system.

(2) In an earlier post and in this immediate one, you keep blaming Republicans for economic woes in the USA. We can agree that the Great Recession of 2008 was an economic calamity. Here is what caused it -

https://www.nytimes.com/1999/09/30/business/fannie-mae-eases-credit-to-aid-mortgage-lending.html

The Democrat Clinton Administration claimed that racism was preventing Black Americans and Hispanics from buying homes. So he enacted new rules FORCING banks to use LOWER CREDIT STANDARDS in granting loans so that generally poorer non-White Americans could benefit.

So many Blacks and other Americans rushed to buy homes. The Democrat made regulations were so bad that they inspired NINJA loans. Eventually many people couldn't repay the loans and banks crashed and took the rest of the economy with them.

An interesting thing is that Black Americans had the HIGHEST DECREASE in homeownership during the Great Recession. Worse, our home ownership rates today are LOWER than before the crisis. Every other race has recovered and surpassed their pre-Crisis home ownership rates.

Reminds me of how Democrats destroyed Black American families with welfare programs starting in the 1960s.

Carry on though. I hope you look into this topic and understand what the issues are.



Good Luck to Nigerians.

cococandy:
Since you yourself left your country, should we say you’re not brilliant because you didn’t stay to fix things? And let me get you correctly, only Igbo people are the ones complaining of racism in America? Of all the minorities from all over the world who experience racism and talk about it, only Igbo people are the ones you singled out to disparage? I don’t know where this is coming from but it’s very surprising to say the least.

Welfare destroyed black families even though white families received more welfare? I’m sure it had nothing to do with the imprisonment of black fathers. Some for the mere possession of weed while the same white people own weed dispensaries today. They pumped crack into the black communities and locked them up for it but white people are receiving help for opioid dependence. This same system is the one that’s not rigged?

You don’t think the low rate of black ownership of homes has anything to do with race? Prejudiced Lending practices? Employment bias based on trumped up criminal convictions? Young children railroaded into jail and prison?

IbeOkehie:


I mentioned Igbo because I'm Igbo and I know my own people very well.

The 1994 Crime Bill is widely acknowledged as the biggest cause mass incarceration of Black Men since Jim Crow.

The 1994 Crime Bill was written by Joe Biden and it was Donald Trump who has struggled reforms to reverse some of the most egregious effects of it....check out the First Step Act. Since you cite criminal records as an important part of systemic racism, you would do well to look that up.

1994 Crime Bill. Just Google.

This is why debating liberals is so often futile. No facts at all, just sentiment.

It's OK though.

Good Luck to USA.

IbeOkehie:


Ma'm, substantially all you've said above is wrong, I don't even know where to begin. I'll pick just two.

(1) If my friend is so brilliant, why didn't he stay in his own country and make it better?

OK, if we can justify his coming here, can we justify him now calling the country racist, the same country that admitted him and gave him opportunity? I repeat, Igbo people have a high tendency to gleefully make fools of other people and exploit their kindness and fairness. We both know the high levels of fake marriages to Black American women for Green Cards and many other forms of cheating the system.

Gerrard59:


And the crescendo was the 2023 election. From what I have read so far and in tune with my pragmatic nature, I think it is time Igbos, especially those in the southwest, need to understand Nigeria for what it is rather than what they think it should be. There is no point contesting elections in the regions since the indigenes are against it. In fact, no point voting. Yes, there is really no point. The same applies to census. Don't participate. Stop seeing other regions as your home. See it as a place to make money and leave.

Going forward, young Nigerians should understand the country (including the world) for what it is, rather than what they think it should be. Igbos in the south west should learn from their kith in the north who tend to mind their business. Unlike in Plateau state, where the indigenes have an unbroken relationship with Igbos to fend off Fulani/Hausa incursions, that relationship cannot be replicated elsewhere. An Igbo man is Unijos' VC. But never expect such at UI or Unilag. This is why the argument that someone from Kogi (the Yoruba side) or Kwara cannot be a politician in Lagos does not fly with me. Culturally, that is permissible. You cannot impose your cultural norms on others. It is their land, after all. What are you going to do about it? The solution, as peddled by some, is division, rightfully so. But until Nigerians are prepared to fight another civil war, bloodier than the first, division is impossicant. A more realistic solution would be to mind who you marry so your children would not have tainted blood.

mrvitalis:

Debt is not a problem in the hands of the right person but can be harmful in the hands of the wrong people

cococandy:


The real danger to the United States is people like you who have individualistic mindset. This is typical of the republican person. They can’t fathom fighting for something unless it personally benefits them.

No one country would be in a good place if the successful people decide everything is okay and we should remain at status quo. What that does is create a big gap of slim ultra wealthy, thin middle class and plenty of impoverished people who will forever be impoverished.

Racism is systemic. Your friend is a smart person who hasn’t let the fact that he earns well cloud his sense. There’s more to society than money if we even want to speak on it. But even if we just focus on money, the systemic racism is the reason why your friend probably put in 10x the amount of work it took for a white person on his level to get to where he is.

The funny thing is that if you’re not making 500k/yr or even more, you’re closer to the person making 50k and more likely to be affected by the corporate welfare system the republicans endorse than the system of equitable taxation and representation. Some people start making 6 figures & own some choice properties then they think they can be like Jeff Bezos. Hence they hate the democrats and their “socialism”.

But it is brainwashing because your taxes aren’t going to get smaller under the republican government. It will get bigger. It just happened after Trump put in worse tax polices and left office didn’t it? You’ll pay more and it will go to the billionaires while you still aspire to be like them even when they are the reason you will never get there.

The ultra wealthy who have sold you (generic) the idea of a free market economics only love when it favors them. When free market favors the common man, they move quickly to stop it. Reminisce on GameStop if you would. The so called free market is rigged from the beginning to never let you get past a certain level in life and you will never see it because you think you’re closer to Elon Musk in wealth rather than the poor man who makes $50k/yr who truly is more your financial peer even if you’re making multiple 6 figures.

If we’re looking at California to see what’s going on. Can we be truthful about how we are your sugar mommies please? We give you money and you send your homeless to us because you don’t have social programs to take care of them. Yet you turn around to insult us.

All the conservatives states are the biggest loser states in America. Draining the country financially without adding as much money back to the economy. Depend on us and New York for handouts yet have everything to say against handouts.