Re: OT - How to think like a repubelican


"theBZA" <dewey3kNOSPAM@xxxxxxxxx> wrote in message
news:Xns9B2CA9FE1CBdewey3kNOSPAMgmailco@xxxxxxxxxxxxxx
Props to ChrisC for clueing me in:

1) The current financial crisis has nothing at all to do with George W.
Bush, his policies, the 6 years the republicans controlled congress,
their laissez-faire, let the markets do whatever they want, get the
government out of the way attitudes. No, the current crisis is entire
because of a 30 year old law passed when Jimmy Carter was president. The
CRA encouraged banks to sell mortgages to lower income families in the
inner cities. Thing is this: the CRA regulates banks and only 19% of
mortgages at banks are "subprime." Compare that to 45% of mortgages at
investment and mortgage companies that are "subprime". But you know, who
needs facts, right?

More educating the children here. This current mess started with the
Clinton administration and the current Bush administration deregulating
banks beyond belief as well as Fannie Mae and Freddie Mac and stupid
liberals borrowers that took out loans they should not have.

But hey, when would a liberal ever play fast and loose with the truth.


.

Relevant Pages

  • Re: OT - How to think like a repubelican
    ... The current financial crisis has nothing at all to do with George W. ... CRA encouraged banks to sell mortgages to lower income families in the ... This current mess started with the Clinton administration and the current Bush administration deregulating banks beyond belief ...
    (alt.sports.basketball.nba.la-lakers)
  • Re: OT - How to think like a repubelican
    ... The current financial crisis has nothing at all to do with ... The CRA encouraged banks to ... sell mortgages to lower income families in the inner cities. ... Clinton administration and the current Bush administration ...
    (alt.sports.basketball.nba.la-lakers)
  • Re: OT - Capitalism in Crisis -- Its hard to run a safe banking system when the central
    ... the uncontrolled death of these banks would have killed ... to sell off mortgages with low returns, sustain the losses, and then apply ... By the end of the first Bush ... None the less, America dodged a bullet. ...
    (rec.crafts.metalworking)
  • Re: OT - Capitalism in Crisis -- Its hard to run a safe banking system when the central
    ... the uncontrolled death of these banks would have killed ... to sell  off mortgages with low returns, sustain the losses, and then apply ... By the end of the first Bush ... None the less, America dodged a bullet. ...
    (rec.crafts.metalworking)
  • Re: The Gray Lady Speaks
    ... Without sub-prime loans, those lawsuits will ... "creative" mortgages simply because they pay high returns simply because ... provided the state AGs don't come to a $25B settlement with the banks. ... In Congressional debate on the Act, critics charged that the law would ...
    (soc.retirement)