The FDIC - "an independent agency of the federal government" - is working with the Mexican consulate in Chicago, banks, and community groups to give home loans to "immigrants." If they're legal immigrants, and thus American citizens (or on their way), why is a foreign government involved?
The article "NWI banks offer home loans to undocumented immigrants" (link) explains why:
TCF Bank is the first bank to open the door to home loans for undocumented immigrants in Northwest Indiana; Fifth Third Bank plans to follow suit this month.
TCF and Fifth Third will be among the largest banks in the United States to offer the new loans. They join about 15 other banks in the Midwest to do so...
"[David Creel, TCF Bank vice president for marketing says] Most of these folks want to become U.S. citizens, so there is a good intent here... We believe everyone should have the opportunity to own a home. It's as simple as that."
Both banks are part of the New Alliance Task Force, a consortium of banks, financial institutions and the Mexican Consulate in Chicago. The consortium was formed in May 2003 to expand banking services to immigrants.
The consortium has concentrated on undocumented immigrants...
"[The Mexican consul says] This is a very important part of the culture of Mexican people to own a home... We want our community every day to become more and more of what the Midwest is about."
If these people were "immigrants" in the Ellis Island sense, isn't it counterproductive to get a foreign government involved? Shouldn't we be trying to ween these "immigrants" away from the government to which they have (presumably) dropped allegiance? And, why is our government helping defeat "Ellis Island-style" immigration?
An FDIC spokesman serves as a source in that article; in the Chicago Tribune article "Mortgage Plan Open to Illegal Immigrants; 35 Banks, FDIC Seek to Ease Loans" the same spokesman is quoted as saying: "A home might be the ultimate dream, as with any other family. The important thing is that they have access. There might be some criticism, but immigration issues are not our purview."
There's more in this shocking Economist article. It starts out with the word "nativists" and goes downhill from there.
Mon, 09/20/2004 - 14:01 · Importance: 4