Posted on 07/20/2010 10:26:52 AM PDT by hillsdale1
On Wednesday, if all goes as planned, President Barack Obama will sign the financial-reform bill crafted by Senator Chris Dodd of Connecticut and Congressman Barney Frank of Massachusetts, sponsored by the Democratic Party in both houses, and supported by three Republican Senators – Scott Brown of Massachusetts and Susan Collins and Olympia Snowe of Maine. When the bill is signed, we will be told, as we have repeatedly been told in the last few months, that the measures included within it will prevent future financial crises of the sort that we have suffered from over the last two years.
(Excerpt) Read more at biggovernment.com ...
The RINO’s appear again!
It will be another disaster.
...
Does the financial reform address this failure? Not at all. It pretends to be the cure when it is, in fact, an aggravation of the disease. It presupposes that the antidote for a crisis caused by attempts on the part of the government to manipulate the mortgage market is more government interference in the financial markets.
This is, of course, what one would expect from Chris Dodd and Barney Frank. After all, when Alan Greenspan and the administration of George W. Bush finally became concerned about the solvency of Fannie Mae and Freddie Mac, Dodd, Frank, and their fellow Democrats blocked the Bush administration’s attempt to rein in these GSEs.
In short, a number of the doctors most responsible for infecting us with the disease from which we now suffer have taken charge of supplying us with a cure.
And Senators Brown, Collins, and Snowe? Well, they have a lot to answer for.
As long as there are politicians like Dodd and fwuank, there will be economic disasters. As long as Fannie and Freddie are promoting the commie agenda, there will be economic disasters like this present one.
USERY interest rates yoking a slave class
for example:
My income has been severed in half since the latest run on the banks by the hedge fund holders and the resulting "bailout"
I applied for the OBAMA making home affordable but it is just a cruel joke. You need to go into foreclosure to qualify but if you are in foreclosure you cant qualify ....so no-one can qualify.
Bof A says I cant re-fi under some new gov. streamline plan because my loan is with ginnymae and not freddie /fannie .
Interest rates are way down but not for me I'm stuck with the 6% fixed for the rest of my life because I have not missed or been late with a payment, but since my income is down I cant re-finance
fricken bastards ! I should just live here for a year until they kick me out ! ! ! ! ...screw the banks and politician liars
SCREW YOU RICH F"ING SLAVE DRIVER BASTARD LOAN SHARKS F___ YOU ! ! ! TAKE ANOTHER FORECLOSURE AND DONT BLAME ME
This is so wierd, FED -EX just came to the door with the “making homes affordable “ rejection letter ( its been about 3 months) , they did offer to consider a “short sale or “deed in lieu of foreclosure” welllll thats a big help rich A-hoes , thanks !
I’m also hearing horror stories about the small business administration loan application process.
They (’progressives’) really mean to destroy this country.
I’m also hearing horror stories about the small business administration loan application process.
They (’progressives’) really mean to destroy this country.
Why did the author/professor not at least *mention* that Jimmy Carter signed the Community Reinvestment Act into law in 1977? Clinton began “strengthening” it immediately upon taking office in 1937, and to his shame, Dublyuh acquiesced to DimocRat demands and “strengthened” it even more, but Progressives had been exercising the Cloward-Piven strategy on this for about thirty years when “our” guy gave in to them. Progressives have been burrowing into most of our institutions for a hundred years. By the time we get them all out, we’ll be up to our knees in blood. “So let it be written, so let it be done.”
Clinton placed in 1937? What the Hmmm part of my aging mind did *that* come from? January twenty-something, 1993.
Yep there is no way in hell I could get a SBA loan but I could go out today and tow home a new $30,000.00 boat with my 800+ credit score
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