[concerned about politics]

Around the world, banks must comply with what are known as Basel II regulations. These regulations determine how much capital a bank must maintain in reserve. The rules are based on the quality of the bank's loan book. The riskier the loans a bank owns, the more capital it must keep in reserve.

The 1995 Community Reinvestment Act forces banks to give loans to those who can not repay them. They're backed by tax dollars. Socialists took full advantage of these and recruited the poor and minorities to buy homes they could not afford. The Socialist organizations then bought those loans, and demanded the government, taxpayers, to comply with the guaranteed taxpayer backing. 700 billion in cash is now due, and the government now controls 50% of our housing industry.
No one is Washington is daring to repeal, or even speak about the 1995 act for fear of racial discord.

Please take the time to read the 1995 Community Reinvestment Act.

[org.whodat]

Give it up, the reinvestment act did not cause fraud on this level.

[Terry Mross]

Bush is too dumb to understand any of this so he has to take Paulson at his word.

As I said on another thread, the foreclosure problem is not addressed in this bill. If you’re about to lose your home, don’t count on Uncle Sam just yet. It’ll be next year and at least $200 billion more. That’s probably about enough to hire all the government property managers, government appraisers, government surveyors, government house cleaners, government home inspectors, etc.

I sent my Exxon bill to the White House. I’m going to send copies to my congress men/women who voted for this rich guy bail out and ask them to forward it to Paulson.