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Old 09-26-2008, 01:56 PM   #11
BYU71
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All I can say is Barney Frank has proven to be a blooming idiot. You should here what he said in 2003 about how safe Fannie and Freddie were and how those who were warning were just fear mongers who didn't care about getting housing for poor people.
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Old 09-26-2008, 02:03 PM   #12
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All I can say is Barney Frank has proven to be a blooming idiot. You should here what he said in 2003 about how safe Fannie and Freddie were and how those who were warning were just fear mongers who didn't care about getting housing for poor people.
Fear mongers AND racists! Don't forget racists!
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Old 09-26-2008, 02:06 PM   #13
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Speaking of which, are you still contending whites for destroyed public schools because the public schools can't operate properly when only blacks go to them and whites homeschool their kids instead?
Along with that Mike are you still chiding Rich Rodriquez for forgetting that a white runningback is just a white runningback?
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Old 09-26-2008, 02:08 PM   #14
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Along with that Mike are you still chiding Rich Rodriquez for forgetting that a white runningback is just a white runningback?
Racism is OK except for when it isn't.
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Old 09-26-2008, 05:17 PM   #15
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Do you think if you keep saying it it will be true? Show me ONE post on this board I have ever made that shows me to be racist?

And I don't mean the PC "if you're white and say anything about a black person that coudl be construed as negative, you're a racist". I mean true racism.
Your first post of this thread.

You blamed the economic downfall on negroes.
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Old 09-26-2008, 05:22 PM   #16
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Your first post of this thread.

You blamed the economic downfall on negroes.
Bullshit. I blamed on insisting that banks give mortgages to the uncreditworthy. I don't care if they are white, black, purple, yellow, or green.
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Last edited by FMCoug; 09-26-2008 at 05:27 PM.
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Old 09-26-2008, 05:23 PM   #17
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Your first post of this thread.

You blamed the economic downfall on negroes.
I'm blaming it in part on a poorly administered program.
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Old 09-29-2008, 04:30 AM   #18
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Bullshit. I blamed on insisting that banks give mortgages to the uncreditworthy. I don't care if they are white, black, purple, yellow, or green.
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… The argument turns on a simple question: In the current mortgage meltdown, did lenders approve bad loans to comply with CRA, or to make money?

The evidence strongly suggests the latter. First, consider timing. CRA was enacted in 1977. The sub-prime lending at the heart of the current crisis exploded a full quarter century later. … In late 2004, the Bush administration announced plans to sharply weaken CRA regulations, pulling small and mid-sized banks out from under the law’s toughest standards. Yet sub-prime lending continued, and even intensified — at the very time when activity under CRA had slowed and the law had weakened.

Second, it is hard to blame CRA for the mortgage meltdown when CRA doesn’t even apply to most of the loans that are behind it. … Perhaps one in four sub-prime loans were made by the institutions fully governed by CRA.

Most important, the lenders subject to CRA have engaged in less, not more, of the most dangerous lending. Janet Yellen, president of the San Francisco Federal Reserve, offers the killer statistic: Independent mortgage companies, which are not covered by CRA, made high-priced loans at more than twice the rate of the banks and thrifts. …

It’s telling that, amid all the recent recriminations, even lenders have not fingered CRA. That’s because CRA didn’t bring about the reckless lending at the heart of the crisis. Just as sub-prime lending was exploding, CRA was losing force and relevance. And the worst offenders, the independent mortgage companies, were never subject to CRA — or any federal regulator. Law didn’t make them lend. The profit motive did.
http://www.prospect.org/cs/articles?...ubprime_crisis
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