georgephillip
Diamond Member
- Dec 27, 2009
- 43,770
- 5,203
Who was in the White House?"CRA allowed activists to blackmail lenders into handing out mortgages to people with little regard for their ability to keep up payments.The fact that this linked article starts with a picture of Glen beck and Michelle Bachman will likely cause you to dismiss it, rather than dispute the information, but what the hell, here goes.
READ IT:
"Banks felt the heat from community organizers and CRA examiners and instead of fighting, they made loans they shouldnt have made, and they paid out millions of dollars in protection money to ACORN and its brethren."
How do you explain "Friends of Angelo" who weren't subject to ACORN or CRA influence?
"In June 2008 Conde Nast Portfolio reported that numerous Washington, DC politicians over recent years had received mortgage financing at noncompetitive rates because the corporation considered the officeholders 'FOA's' 'Friends of Angelo' (Countrywide Chief Executive Angelo Mozilo).
"The politicians extended such favorable financing included the chairman of the Senate Banking Committee, Christopher Dodd, the chairman of the Senate Budget Committee and Kent Conrad. The article also noted Countrywide's political action committee had made large donations to Dodd's campaign.[18]
"Senator Dodd proposed that the federal government buy up to $400 Billion in defaulted mortgages.[19] Citizens for Responsibility and Ethics in Washington (CREW) has called for House and Senate to investigate Senators Conrad and Dodd."
The trillions of dollars lost during the most recent speculative bubble to POP wasn't driven by anything but the usual cabal of rich Wall Street parasites and their hired hands in both major US political parties.
ACORN and the CRA were a footnotes, at best.
How do you explain "Friends of Angelo" who weren't subject to ACORN or CRA influence?
Corrupt politicians? Shocking!
They name Dodd and Conrad, aren't they liberals?