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
Get the Kang (Revised) mug.A black man in the USA who identifies as a king but it's spelled Kang because of the accent some have when saying King. They believe white society has removed them of King status in Africa due to slavery and segregation. However, self professed kangz don't act very well. They create broken homes, don't have steady jobs, yet want women who serve them hand and foot for the simple fact they are a man but do not contribute to the family. Some Kangz also are passport bros who believe women in other countries will serve them as the king they are because American women are insubordinate.
This Kang has three children with different mothers and thinks highly of himself even though he doesn't pay child support and has no job.
by Pnutbtrjelly May 6, 2023
Get the Kang mug.Hym "So... Are they going to bring back Kang or are they going to do him like they did Justin Roiland? Hit him with the ole 'You're not guilty but we already fired you and we would feel stupid if we hired you back after jumping the gun' treatment."
by Hym Iam September 24, 2023
Get the Kang mug.It mean he’s ex Of Meng Chorng and now he’s love Borin. He’s go back to love. Meng Chorng and make Borin broken heart.
by Kkooqq October 28, 2019
Get the Kang Jin mug.by I_SEE_U March 27, 2021
Get the Kang mug.People who say something without thinking anything about the meaning of what they said. People who answer anything on your question that's way too off. This is caused by a lack of sleep.
by Darkhaha April 14, 2021
Get the Kang Kong 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
Get the Kang mug.