A previous credit score so low that it crashed the world economy in 2008 when Countrywide made thousands of risky loans to Kangs of color. These loans were complete garbage and nobody wanted to touch them in their investment portfolio, so rating companies like S&P, Moody's and Fitch all collaborated to give these Kang loans a fake higher score. These loans caused rolling defaults when the Kangs of color predictably defaulted on them. This caused the entire system to collapse and were it not for the government stepping in, the Kangs would have destroyed the world financial system.
It's 2023 and the Kangs are back. After years of printing money and then later trying to raise interest rates to control the out-of-control inflation, the US government is realizing the asset bubble they created is leaving behind the Kangs who can't afford property. The Kangs of color don't pay their mortgages but there's a new scheme to shoulder the burden on the responsible white people. It's not enough that the banks and government make AAA-rated reliable money on white mortgage payers, they're now going to put a Kang tax on all mortgage payers with a credit score of over 750. This is a risk-avoidance scheme to punish whites further and to prop up the Kangs of color.
When the Kangs default on their mortgages, the banks will just reclaim the property and sell it at a profit to whites. All the while they'll still be collecting the higher mortgage Kang tax from the whites as well.
It's 2023 and the Kangs are back. After years of printing money and then later trying to raise interest rates to control the out-of-control inflation, the US government is realizing the asset bubble they created is leaving behind the Kangs who can't afford property. The Kangs of color don't pay their mortgages but there's a new scheme to shoulder the burden on the responsible white people. It's not enough that the banks and government make AAA-rated reliable money on white mortgage payers, they're now going to put a Kang tax on all mortgage payers with a credit score of over 750. This is a risk-avoidance scheme to punish whites further and to prop up the Kangs of color.
When the Kangs default on their mortgages, the banks will just reclaim the property and sell it at a profit to whites. All the while they'll still be collecting the higher mortgage Kang tax from the whites as well.
by Jim Crowing May 1, 2023
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Get the kang zheng mug.Kang is mostly a very annoying person. Every time beeing late and often he wont even come because he has to do taekwondo. Probably hes ur math teatcher and he will teach u nothing, good luck and have fun with him
by TobangaNö June 10, 2022
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Person 1: Bro why do oppreshun olympians of all shades support Hamas in 2023?
Person 2: Because if you kang against Rome, you open door to Mecca
Person 2: Because if you kang against Rome, you open door to Mecca
by Davis Aldo November 15, 2023
Get the If you kang against Rome, You open door to Mecca mug.Cheeky little girls who are secretly fruity for girls called Bhavneet. They are typically south Asian and have a huge passion for makeup. However, these girls are cheeky little slags and will do whatever it takes to get with Bhavneet.
by Pinkkballs February 9, 2024
Get the Jasmin kang mug.Kang Thay is a person who is very good in games but is very gay at times. Especially when he has a friend name Charles. this definition is from ur bestie di :D
by baba yoda July 18, 2021
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