Posted on 09/23/2008 2:41:45 PM PDT by Rodm
Following a landmark lending discrimination settlement, U.S. Attorney General Janet Reno recently issued a stern warning to all banks which practice red-lining--you're breaking the law and face possible litigation.
Reno's warning came on the heels of a recent settlement of an unprecedented lending-bias case against Chevy Chase Federal Savings Bank, a suburban Washington, D.C., bank that was accused of bias in marketing services to predominantly Black and minority areas.
It was revealed that until recently, Chevy Chase had no branches located in predominantly Black neighborhoods.
(Excerpt) Read more at findarticles.com ...
Much of this entire issue began in the stench of the Clinton “administration”....
Taxpayers are probably paying for this today!
And the hits just keep on comin!
Seems to me that govt. forcing lending institutions to loan money in minority areas is how we got into this financial mess to begin with.
Let’s lend money to those who never will be able to repay.
Great idea.
Yet can you find a single Democrat that has admitted any connection to the crisis?
Of interest, sir, considering your previous find of that 1999 Slimes article.
“I introduced two of the leaders here today — they call those people Fannie May and Freddie Mac, as well as the federal home loan banks, will increase their commitment to minority markets by more than $440 billion.”
The President-June 2002
Yet can you find a single Democrat that has admitted any connection to the crisis?
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Of course not — they are professional criminals, and professional liars.
Social engineering is the root cause of this mess.
Money won’t fix this any more than money fixes schools.
JANET RENO where are you? You must belly up to the bar and drink like a MAN, you’ve made banks lend money to people who weren’t reasonable risks! How dare you! Janet, I know you are reading this, and you won’t get your minions to vote for your party in Florida this time now that the finger is pointed at YOU, honey.
BTT!
I agree but we had 1994 to 2006 to make some adjustments. I still think the leftists made this bed, but we sure didn’t clean the sheets.
“Whom God would destroy, He first makes mad.”
Do the minority applicants have to qualify or is the color of their skin enough?
Good ol JAMMIT RENO!!! She brought us the Koresh thing in Waco, Elian Gonzales and now this. The bich that just keeps on giving!!! (I know I’ve left some stuff out)
The DemocRATS created this mess, and now they have the nerve to try to blame it on everyone else.
I’ve tried to explain that to liberal friends of mine after one of them flat-out said “this is Bush’s $700 billion bailout, his constituents need to pay for it.” I showed him the NYT article from 1999 that mentions Fannie’s liberalization of buying subprime mortgages (with Franklin Raines at the helm), I explained to him about the 1997 CRA changes that caused “community organizers” like his beloved Obamessiah to pressure banks into risky lending, I showed him that Chris Dodd and Barney Fwank are the biggest pushers in Congress behind Fannie and Freddie.
His reply? “The Republicans were in charge of Congress from 1994 to 2006, it’s their fault, and Fannie/Freddie have been utilized by Bush as part of his ‘ownership’ society since 2001 and the Democrats should have stood up to him.” It’s just nothing but willful ignorance. It blows my mind. Then again, he’s part of a crowd that’s flat-out said the top 1% of earners need to be massively taxed because they’ve hoarded too much money and that money needs to be recirculated into the economy. Utterly amazing.
}:-)4
Bingo!
It’s just nothing but willful ignorance. It blows my mind. Then again, he’s part of a crowd that’s flat-out said the top 1% of earners need to be massively taxed because they’ve hoarded too much money and that money needs to be recirculated into the economy. Utterly amazing.
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I agree, great post. Rush is totally right when he says that “America’s most plentiful commodity is IGNORANCE...” — he kindly left out stupidity and selfishness. That would have fully encompassed today’s breed of liberal dregs.
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