Look at the many different discussion happening around here about ACORN and the 1999 changes to the Legislation YOU are attempting to cite here...
After that, if you still don't get it, we can go over it in a bit more detail, if you feel the need. But something tells me you don't care what the FACTS are, and you will just blame the Republicans, many of whom have been warning of this for YEARS now, as Frank and Dodd tried telling them there were no problems... Again, your ignorance on these matters is quite evident. On Oct 1, 11:50 pm, SgtUSMC <[EMAIL PROTECTED]> wrote: > Really, it was the people who caused the problem? Have you ever > qualified for a loan? Now, it's the people who forced the lending > institutions to make bad loans. If I ever want you to agree with me, > all I have to do is take a stance opposite the one I want you to take. > You've been on both sides of this issue. Decide where you stand. > > On Oct 2, 2:44 am, Gaar <[EMAIL PROTECTED]> wrote: > > > > > No Sarge, these measures were needed after nearly a Decade of > > abuses... > > > It wasn't the new Regulations that destroyed them, it was the people > > trying to get Loans for people who couldn't afford them. > > > On Oct 1, 9:31 pm, SgtUSMC <[EMAIL PROTECTED]> wrote: > > > > Here are the facts. Let's Review: > > > > In 2004/early 2005, a Bill captioned, the "Federal Housing Enterprise > > > Regulatory Reform Act" of 2004/2005, sponsored by Republicans, .John > > > McCain, > > > Elizabeth Dole, John Sununu, and Chuck Hagel, was put before the > > > Congress. > > > The Bill was blocked, by the Democrats in the Senate, and the majority > > > of > > > Democrats in the House of Representatives. > > > > http://www.govtrack.us/congress/bill.xpd?bill=s109-190 > > > > The summary of the Bill, written by Congressional Services: > > > > 1/26/2005--Introduced. > > > > Federal Housing Enterprise Regulatory Reform Act of 2005 - Amends the > > > Federal Housing Enterprises Financial Safety and Soundness Act of 1992 > > > to > > > establish: (1) in lieu of the Office of Federal Housing Enterprise > > > Oversight > > > of the Department of Housing and Urban Development (HUD), an > > > independent > > > Federal Housing Enterprise Regulatory Agency which shall have > > > authority over > > > the Federal Home Loan Bank Finance Corporation, the Federal Home Loan > > > Banks, > > > the Federal National Mortgage Association (Fannie Mae), and the > > > Federal Home > > > Loan Mortgage Corporation (Freddie Mac); and (2) the Federal Housing > > > Enterprise Board. > > > Sets forth operating, administrative, and regulatory provisions of > > > the > > > Agency, including provisions respecting: (1) assessment authority; > > > (2) > > > authority to limit nonmission-related assets; (3) minimum and > > > critical > > > capital levels; (4) risk-based capital test; (5) capital > > > classifications and > > > undercapitalized enterprises; (6) enforcement actions and penalties; > > > (7) > > > golden parachutes; and (8) reporting. > > > Amends the Federal Home Loan Bank Act to establish the Federal Home > > > Loan > > > Bank Finance Corporation. Transfers the functions of the Office of > > > Finance > > > of the Federal Home Loan Banks to such Corporation. > > > Excludes the Federal Home Loan Banks from certain securities > > > reporting > > > requirements. > > > Abolishes the Federal Housing Finance Board. > > > > ========== > > > > Now you're getting someplace. This was the major problem. They took > > > deregulation way too far. Before, it had hurt the economy. We saw that > > > but, no one wanted to do anything about it. These bills in 2004 & 2005 > > > took us over the edge. Foreclosures were imminent.- Hide quoted text - > > > - Show quoted text -- Hide quoted text - > > - Show quoted text - --~--~---------~--~----~------------~-------~--~----~ Thanks for being part of "PoliticalForum" at Google Groups. For options & help see http://groups.google.com/group/PoliticalForum * Visit our other community at http://www.PoliticalForum.com/ * It's active and moderated. Register and vote in our polls. * Read the latest breaking news, and more. -~----------~----~----~----~------~----~------~--~---
