We never said it was done just to black folks, those are your words. The fact is that anyone that has been paying attention to news other than CNN or MSNBC would know that Dodd and Frank had their hands in the cookie jar and allowed the banks to continue, instead of putting a leash on them. ACORN members protested and harrassed bankers to make the loans.

__________________
I didn't say it was your fault, I said I was going to blame you.

Dynamite comes in small packages, Nitro comes in smaller ones, take your pick!

Golden..This was an interesting audio. But, I do think it had a bit of political bias to it. I can't comment on the part ACORN has played in this, because I honestly, don't have a clue. Just like with ENRON, they've all had their hands in the cookie jar and set up the perfect storm.

To go back 30 yrs. in History and pick out The CRA as a starting point, just makes no sense to me. Here's the text to the Bill.

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

From the way I read it, it was never intended that this interfere with "safe and sound" operation of the institutions. It just required that if these institutions take the deposits of a community, they make available credit. There were places that offered them "credit" in their FDIC reviews, for "free-rent", but I see no where that required them to lessen their lending standards.

I'm wondering...Why not go back to the creation of Fannie and Freddie? Why not when they were Privatized? The truth is, nobody can pick one particular event for the Financial Crisis as we know it. Many, many revisions were made to CRA, many economic principles applied, and alot of Government interference when there shouldn't have been. This has gone on since the creation of the Federal Reserve, and our first dollar of National debt.

But, (imo) 1999 is when a CAT 1 Hurricane became a CAT 4. Now, it's a fullfledged CAT 5.

__________________
Matthew 7:15-20

Please point out in the text I listed above where CRA was the source of this problem, because I don't see it.

__________________
Matthew 7:15-20

I said the CRA was the source of the problem along with various other connections due to pressure from community groups and politicians. I was also pointing that I had never said the predatory lending was just black folks. I read the last paragraph of your statement to mean that some of us had said that black people were targeted.

I originally brought up the CRA in repsonse to something Rationalist had said in a previous post.

__________________
I didn't say it was your fault, I said I was going to blame you.

Dynamite comes in small packages, Nitro comes in smaller ones, take your pick!

Please actually do some of your own research instead of asking people to do it for you.. The facts are out there all over the net... The Dems made the banking institutions loan money to risky borrows or suffer huge penalties...

[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

And more proof of the Dems saying there was no problem
[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.
[LINK POSTED BY MEMBER] Only Members Can View This Truck Forum Link.

Some people just absolutely refuse to listen and understand.
Most of them voted for obama.

Quote:
"Please actually do some of your own research instead of asking people to do it for you.. The facts are out there all over the net... The Dems made the banking institutions loan money to risky borrows or suffer huge penalties..."

And you 'really' believe the Democrats are solely responsible? Sweet.

__________________
Matthew 7:15-20

Actually, this is what you said. Since there were Womens Groups also protesting against Discrimination back in 1977 which benefited from this Legislation (and you failed to mention them) the reference to ACORN only left a certain cloud over your comment. My mistake.

__________________
Matthew 7:15-20

I didn't know about the women's groups at all. I was working with information that was brought out recently after the whole Fannie/Freddie mess. The information I had seen did not mention the Women's Groups at all, which is why I didn't know about them. I was in elementary school when that stuff was going on. Didn't mean to make it confusing!

I should have also clarified that I was referring more to the changes made to the CRA under the Clinton Admin, as that was when things got really screwy with that program.

__________________
I didn't say it was your fault, I said I was going to blame you.

Dynamite comes in small packages, Nitro comes in smaller ones, take your pick!