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-   -   Burning Down The House: BARNEY FRANK CAUSED ECONOMIC CRISES (https://www.radiobanter.com/shortwave/155035-burning-down-house-barney-frank-caused-economic-crises.html)

[email protected] October 25th 10 07:49 AM
Burning Down The House: BARNEY FRANK CAUSED ECONOMIC CRISES
 
On Oct 24, 3:13*pm, wrote:
On Sat, 23 Oct 2010 20:37:36 -0700 (PDT), Werner
wrote:

On Oct 23, 6:30*pm, China Blue Police Box
wrote:
In article ,

*Werner wrote:
written: “Starting with the Community Reinvestment Act of 1977, that
was

You mean the law that outlawed racism in lending.

--

No, it would be the law that outlawed sensible lending and borrowing.

Any "law" articulated and pushed by Frank was geared to lowering
CREDIT RATINGS that were so stringently calculated that no one could
get a home loan in a degrading community.

That IS a sensible lending/borrowing policy

What you fail to mention is:

a) the GOP deregulated Fannie/Freddie AFTER they came to power

b) the Major borrowers were Developers, banks, speculators, and Wall
street who concocted the massive "Derivities" schemes

c) that ONE (1) hearing held was immediatly shut down when a regulator
testified of the disaster that would happen if the Oversight was not
conducted. (In 2005)

All of the above were REPUBLICAN faults.

That is a major Understatement...

Beam Me Up Scotty[_3_] October 26th 10 12:16 AM
Burning Down The House: BARNEY FRANK CAUSED ECONOMIC CRISES
 
On 10/24/2010 3:13 PM, wrote:
On Sat, 23 Oct 2010 20:37:36 -0700 (PDT), Werner
wrote:

On Oct 23, 6:30 pm, China Blue Police Box
wrote:
In article ,

Werner wrote:
written: “Starting with the Community Reinvestment Act of 1977, that
was

You mean the law that outlawed racism in lending.



The one that was corrupted and used to coerce the Lenders to give out
money that they would NOT normally have given out?

The Law that created the opening for ACORN and others to extort cash as
loans and donations to LIBERAL RACIAL groups for their community or face
the law suits under this law and it would bankrupt the lender.


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