To: neverdem
The Community Re-investment Act started under Jimmy Carter.
During the Clinton administration, then attorney general Janet Reno falsely accused the banks of red-lining and threatened them with all kind of unpleasant consequences unless they gave home loans to people who couldn’t afford to pay them back, including illegal aliens.
And we wonder why it all went bad.
12 posted on
10/12/2011 11:23:06 PM PDT by
july4thfreedomfoundation
(Obama inherited a mild recession from George W. Bush and turned it into a major depression.)
To: july4thfreedomfoundation
During the Clinton administration, then attorney general Janet Reno falsely accused the banks of red-lining and threatened them with all kind of unpleasant consequences unless they gave home loans to people who couldnt afford to pay them back, including illegal aliens. Yup - Illegals and "Holder's People."
20 posted on
10/13/2011 3:32:07 AM PDT by
SkyPilot
To: july4thfreedomfoundation
During the Clinton administration, then attorney general Janet Reno falsely accused the banks of red-lining and threatened them with all kind of unpleasant consequences unless they gave home loans to people who couldnt afford to pay them back, including illegal aliens. Yup - Illegals and "Holder's People."
21 posted on
10/13/2011 3:32:07 AM PDT by
SkyPilot
To: july4thfreedomfoundation
Chris Cuomo had a lot to do with it as HUD boss.
And don't forget the CBC's defense of whathisname of the then-CEO of FannieMae, as well as GSE's in general.
To: july4thfreedomfoundation
The Community Reinvestment Act was passed in 1977; it was preceded by the Home Mortgage Disclosure Act of 1975. Together, they provided the data that the Government needed to allowed it to play a direct part in the mortgage market. Both were Democrat bills.
37 posted on
10/13/2011 6:59:28 AM PDT by
Melchior
To: july4thfreedomfoundation
lending to poor=”pwedatory lending”
not lending to poor=”wedlining/wascist”
53 posted on
10/13/2011 9:00:24 AM PDT by
WOBBLY BOB
(See ya later, debt inflator ! Gone in 4 (2012))
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