Faith Bautista’s June 24 op-ed, “BB&T resists community development plan,” is long on vagueness and totally lacking in specifics. She can’t recruit sympathizers among readers without specifics.

She harps on “community development,” by which (the internet reveals) she means people obtaining mortgages free of foreclosure. Yes, many totally unjust foreclosures were done under Bush by a wicked Wall Street, and very few prosecutions resulted. But we’re not in that era anymore. So apparently her problem is no longer the Wall Street giants but banking in general. Years before the Crash of 2008, banks began foreclosing on mortgages when just one payment was late. Consumers need to realize that without a stable job, financial literacy, and a small local bank, you can forget about owning a house. It seems Ms. Bautista wants more than just hand-holding of purchasers by the bank; she wants indulgence and forgiveness. And I differ with this in two ways.

One, many Americans have not taken the time to become financially literate. So right there they are poor risks for the bank. Plus, the bank’s religion is a very savage version of Adam Smith, under which many Americans are in effect renting a house. One mistake and all your equity evaporates. But that’s life in The Second Gilded Age.

Two, Allan Greenspan was one who helped to cause the Crash of 2008, by advocating that every American should own a house. No, Dr. Greenspan, some should definitely not try for a house due to lack of job skills and/or lack of spending restraint. You did the country a disservice. Many Americans want steak but should settle for burgers until they attain a recession-resistant job. Ms. Bautista, no one owes people a house.

ROBERT A. YOUNG

ROANOKE 

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