Isn't singling out the CRA and its mid-90s amendment just another example of selective right-wing demonization? One might just as easily point to the Garn-St. Germain Act of 1982 which deregulated - and annihilated - the S&Ls and further integrated local real estate financing into the global captial markets. Or to the 1968 Congressional legislation that split the FNMA into two entities, and created the GNMA which did much to ramp up the secondary mortgage market, along with the creation of the FHLMC in 1970. Or for that matter, the creation of the FHLB in 1932 or the FHA in 1934. The nauseating line being spewed by right-wing scum on their websites and through their medida organs is the rawest, racist bile and represents a new low, even the proponents of such nonsense. Although . . . . I have to admint that the thought that while no one was paying any attention the wretched of the Earth managed to pull the plug on the Empire of Capital, if only temporarily, is as heartwarming and hopeful as any I've had since the end of the Vietnam War. Unfortunately, it's not true.
(by MR) > > This message has been scanned for malware by SurfControl plc. www.surfcontrol.com _______________________________________________ Marxism-Thaxis mailing list Marxism-Thaxis@lists.econ.utah.edu To change your options or unsubscribe go to: http://lists.econ.utah.edu/mailman/listinfo/marxism-thaxis
