no, I have been hearing that in the past week but that is BS. The community reinvestment act has been around for years. I know I cited it in an argument with a bank manager when I was turned down for a loan oh gee... I don't remember what year but I can tell you that Reagan was president. And the bank manager said to me that it was a mandate to lend to people in the community, but that the people had to be creditworthy. And honestly, and the time I probably wasn't, not for what I was trying to do.
On Tue, Sep 30, 2008 at 3:22 PM, Robert Munn <[EMAIL PROTECTED]> wrote: > What Democrats really said was, "Start lending more money to people who > can't afford it or pay huge penalties." So what did Fannie and Freddie do? > Loosen the purse strings. > > Gruss' explanation that Fannie and Freddie didn't make the loans is just an > excuse. They were specifically directed by Democrats in Congress to make > more money available to low-income borrowers, so that's what they did. And > now Democrats have the gall to blame Bush for their failed policies. > Unbelievable. > > If there is no bailout before election day, the Republicans are going to get > swept away at all levels of government, the economy will go totally into the > tank, and the bailout bill the Democrats eventually pass will be far more > expensive and intrusive than the current plan on the table. And people might > actually be grateful to Democrats for digging a gigantic hole that they > could then get people out of. It boggles the mind. > > > On Tue, Sep 30, 2008 at 7:49 AM, G wrote: > >> That's an awesomely simple explanation of how both parties ideologies >> contributed to this mess. >> >> Republicans: "De-regulate!" >> Democrats: "Please start lending to people who can't afford it!" >> > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271657 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
