Barney Frank explains government’s role in bailout (admits guilt, too much government intervention)

Wicked Local ^ | 11/11/08 | Julie Onufrak

[eeevil conservative]

BEFORE the coronation of Obama it was Bush’s fault....the PUBBIES didn’t want any regulation....blah blah blah...

lie lie lie....

[Nathan Zachary]

Yep, It's all a big scam perpetrated by Obama's Acorn, and other RATS involved in the scam, beginning with the democrats creation of the CRA during the Carter admin. Under the CRA, if a bank wanted to make any changes in its business operations — merging, opening up a new branch, getting into a new line of business — it had to first prove to regulators that it has made "enough" loans to the government's preferred borrowers. The (partially) tax-funded "community groups" like ACORN routinely filed petitions with regulators that stopped the bank's activities in its tracks, sometimes defeating them altogether. The banks routinely had to pay off ACORN and other "community groups" by giving them millions of dollars as well as promising to make even more dubious loans to those who wouldn't normally qualify under the formula banks usually used to rate an applicants eligibility.

Interesting read.

The CRA Scam and its Defenders

[Humble Servant]

He should be jailed.

[Nathan Zachary]

He may have had his finger in the pie, but so did a lot of others. Likewize, Fanny Mae and Freddy Mac are also only part of the picture.

ALL involved in this swindle need to go to jail. We'd have to call another election.

[gwilhelm56]

**ALL involved in this swindle need to go to jail.**

And I want that PERPWALK to look like a CONGA Line!!

[Nathan Zachary]

In case you don’t know, the CRA is the ‘Community Reinvestment Act’ the democrats created in 1977 during the carter admin.

[Nathan Zachary]

Wouldn’t that be a sight to see. Half (or more) the Democrat party chained together being loaded on the bus...

[gwilhelm56]

**Half (or more) the Democrat party chained together being loaded on the bus...**

I’d almost PAYPERVIEW to see that!!

[Dick Bachert]

[Dick Bachert]

[timestax]

NO BAILOUTS !

[XR7]

What a sick, morally bankrupt Congress we have, that would actually allow such a bloated, sexually deviant pervert to oversee our nation’s finances. No wonder we’re screwed.

[KingNo155]

The Italians were right in the way they impeached Mussolini after he brought their country to brink of destruction