Plan B Forum

Liberals won’t be happy until they destroy the economy. They want everyone to be poor except them.

What do you expect to happen when banks are forced to make loans they don’t want to make. Banks are not racist organizations they are profit-making organizations. They don’t care what your race is as long as you make them money. You forced them to make all those bad loans then you’re surprised when they try to sell the risk to someone else.


http://freerepublic.com/focus/f-news/2093675/posts

RUSH: So what got us here? Well, you can say "white guilt" got us here, political correctness got us here, or a combination of all those things. Democrats' desire to socialize the country got us here. Efforts to stop it failing -- and we're on the verge of even more of it, ladies and gentlemen. Stanley Kurtz has been researching Obama, and he has a great piece today. Let me just give you a couple excerpts. "What exactly does a 'community organizer' do?" and one thing a community organizer does, if he's Barack Obama, is pressure banks to make bad loans. Obama's fingerprints are over this, too, because his group ACORN is all involved. The Community Reinvestment Act "was meant to encourage banks to make loans to high-risk borrowers, often minorities living in unstable neighborhoods. That has provided an opening to radical groups like ACORN (the Association of Community Organizations for Reform Now), and a group that is constantly engaged in illegal voter registration, among other things.

Vote for John McCain!

ACORN ended up being dissolved because right wing activist and amateur criminal James O'Keefe doctored some videos to make it look as if ACORN staff were playing games with federal funds. In the end both the feds and California found ACORN to be guilty of nothing and O'Keefe had to pay $100,000 in restitution to an ACORN employee. That link is to that commie pinko lamestream media rag (I think I have the terminology right but someone will correct me if I have it wrong) Forbes.

Too late for ACORN of course - the damage had been done.

What the village idiot doesn't understand about banking would fill the Library of Congress.

And if anyone knows less about banking than the village idiot, it would be Rush Limbaugh.

The first clue would have been the claim that "Obama's fingerprints are over" the Community Reinvestment Act, which was passed in 1977, when Obama was 15 years old. Pretty sure he couldn't have had much influence in banking policy back then.

The CRA effected savings banks, which did not cause the mortgage melt down. It had no effect on the investor-backed mortgage companies, like Countrywide. None. None that is why it has been around since the 70s and never caused a meltdown.

yrs,
rubato