1 posted on
09/20/2008 5:52:25 AM PDT by
coffee260
To: coffee260
from winter 2000
bumpety bump bump bump
2 posted on
09/20/2008 5:53:48 AM PDT by
silverleaf
(Fasten your seat belts- it's going to be a BUMPY ride.)
To: coffee260
All this crap was to get people voting Democrap....forever
4 posted on
09/20/2008 5:56:38 AM PDT by
dennisw
(Never bet on a false prophet! :::::|::::: Never bet on Islam!)
To: coffee260
The so called act did not advise banks and other Wall street thieves to create financial instruments out of thin air. This writing is about 60% BS and the balance CYA for the republican party.
5 posted on
09/20/2008 5:56:55 AM PDT by
org.whodat
(Republicans should support the SAM Walton business model, and then drill???)
To: coffee260
Nailed it long ago - along with many others who saw the handwriting on the wall...
6 posted on
09/20/2008 5:58:22 AM PDT by
xcamel
(Conservatives start smart, and get rich, liberals start rich, and get stupid.)
To: coffee260
This should be disseminated as widely as humanly possible. This one article has done more to explain the present crisis than anything I have read.
7 posted on
09/20/2008 6:00:56 AM PDT by
Melchior
To: coffee260
8 posted on
09/20/2008 6:01:19 AM PDT by
frithguild
(Can I drill your head now?)
To: coffee260
AHHH!
The section below- THIS is why the democrat talking points (evidently FAX'd out to the media) is parroting the mantra that the current mess is because of Republican "deregulation"
Some are calling for Phil Gramm to be "investigated" Last night the idiot spokes-hack Alan Colmes went a step further back and blamed Ronald Reagan.
When Senator Gramm attacked the CRA for its role in funding advocacy groups and for the burden it imposes on banks, the Clinton administration fought back furiously, willing to let the crucial Financial Services Modernization Act, to which Gramm had attached his CRA changes, die, unless Gramm dropped demands that, for instance, CRA reviews become less frequent. In the end, Gramm, despite his key position as the chairman of the Senate Committee on Banking, Housing and Urban Affairs (even the committee's name reflects a CRA consciousness) and his willingness to hold repeal of the Glass-Steagal Act hostage to CRA reform, could only manage to require community groups to make public their agreements with banks, disclosing the size of their loan commitments and fees.
9 posted on
09/20/2008 6:01:27 AM PDT by
silverleaf
(Fasten your seat belts- it's going to be a BUMPY ride.)
To: coffee260
10 posted on
09/20/2008 6:06:20 AM PDT by
listenhillary
(Palin accomplished more in the PTA than Obama did as a community organizer)
To: coffee260
McCain needs to howl mighty loudly about this and hang it squarely around the shoulders of Obama and his financial advisors, all of whom played key parts in this meltdown.
11 posted on
09/20/2008 6:08:34 AM PDT by
Virginia Ridgerunner
(Sarah Palin is a smart missile aimed at the heart of the left!)
To: coffee260
In addition, the Act's backers claimed, CRA would be profitable for banks. They just needed a push from the law to learn how to identify profitable inner-city lending opportunities. They found a way - rather than keeping the risky loans on their books they securitized them and sold them off to investors. They quickly realized that the Democrats were right - it could be a scam for the ages, especially if they lured the illegals into it. Housing prices skyrocketed as the purchase price really didn't matter any more - mortgage originators would lend any amount of money just to get their hands on more paper to securitize and sell off. Pension funds and institutional investors, desperate for higher returns (and bonuses) in the face of a competitive market for client investment dollars, just kept buying anything the rating agencies were being paid to slap a AAA rating on.
The proper "fix" is to mark the investments to market, punishing the investor rather than the saver and the taxpayer - although in the USA, they are probably the same person. The Fed has decided, however, upholding the values of the bad investments and sticking it to the taxpayer on the back end is the more politically palatable solution - that people will tolerate tax increases on "the rich" a lot better than they will tolerate a 40% drop in the value of their supposedly safe fixed-income retirement portfolios.
12 posted on
09/20/2008 6:09:27 AM PDT by
Mr. Jeeves
("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
To: coffee260
15 posted on
09/20/2008 6:18:29 AM PDT by
syriacus
(Calling humans "pigs" is second-nature for anti-war radicals, Black Panthers + radical Islamists.)
To: coffee260
Libs will deflect blame by playing the little kid caught with his hand in the cookie jar saying “Why didn’t you stop me! It’s your fault.”
To: coffee260
19 posted on
09/20/2008 6:28:24 AM PDT by
pointsal
To: coffee260
From the essay:
..the CRA funnels billions of investment dollars through groups that understand protest and political advocacy but not marketing or finance. This amateur delivery system for investment capital already shows signs that it may be going about its business unwisely.
From
WikipediaCommunity development seeks to empower individuals and groups of people by providing these groups with the skills they need to effect change in their own communities. These skills are often concentrated around building political power through the formation of large social groups working for a common agenda.
One BIG cash cow. Obama and his Chicago cronies knew how to milk it.
20 posted on
09/20/2008 6:29:48 AM PDT by
syriacus
(Calling humans "pigs" is second-nature for anti-war radicals, Black Panthers + radical Islamists.)
To: STARWISE; Ernest_at_the_Beach; nutmeg; holdonnow; Bahbah
This is must reading and ping lists.
25 posted on
09/20/2008 6:39:15 AM PDT by
SE Mom
(Proud mom of an Iraq war combat vet-McCain/Palin 08)
To: coffee260
To: coffee260
Thanks for the reminder.....the leftwing commies never take responsibility for their failed ideas.
38 posted on
09/20/2008 8:05:30 AM PDT by
roses of sharon
(The MSM vampires must die!)
To: coffee260
We shouldn't let voters forget this fact...
The GOP did NOT have control of both houses for the first 6 years of Bush's presidency.
the Democrats controlled the Senate for most of the 107th Congress
Party Division in the Senate, 1789-Present
107th Congress
Democratic Majority takes control Jan 3, 2001
Republican Majority takes control Jan 20, 2001
Democratic majority takes control June 6, 2001
Congress out of session when Talent beats Carnahan Nov. 5 2002
Jeffords split with GOP could hamper Bush agenda, May 24, 2001
39 posted on
09/20/2008 8:07:08 AM PDT by
syriacus
(Calling humans "pigs" is second-nature for anti-war radicals, Black Panthers + radical Islamists.)
To: coffee260
A radical group called ACORN Housing has a $760 million commitment from the Bank of New York... Observes Tom Callahan, executive director of the Massachusetts Affordable Housing Alliance, which has $220 million in bank mortgage money to parcel out, "CRA is the backbone of everything we do."This needs to be shouted in town squares across the shire.
Thanks again, Jimmy Carter.
48 posted on
09/20/2008 12:54:50 PM PDT by
Dr.Deth
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