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I think it is important the truth gets out that the affirmative actions of congress causeed this melt down that now the middle class is expected to bail out.

   

Naked Emperor News looks very much like a 527.

   

OK fine. but listen to the words the democrats are saying!!!!!!!

Get your blinders off please. you cant deny what they are saying!

   

Sorry, but the partisan slant of the 527 you presented is blinding. I can't even look at the video without questioning the context.

   

   

They are ignorant and dont want to see the truth its scary.

   

You cant deny what they are saying. Now these same politicians are blaming Bush for the melt down.

   

Yeah, you keep selling us that some legiuslation past by the Carter administration is somehow responsible, as opposed to the paery that's actually been in power for teh last eight years. You keep selling it, but people aren't buying it. $700 billion of taxpayers money going to bankers under Bush's watch--that's what they see.

Theorw that on top of--what?--another $700 billion for Iraq and that's 1.4 trillion down the tubes. Man, the presses are working overtime to print all this new money.

   

And then touched up by the Clinton admin.

Clinton Administration Changes of 1995
In 1995, as a result of interest from President Bill Clinton's administration, the implementing regulations for the CRA were strengthened by focusing the financial regulators' attention on institutions' performance in helping to meet community credit needs.

These revisions[5] with an effective starting date of January 31, 1995 were credited with substantially increasing the number and aggregate amount of loans to small businesses and to low- and moderate-income borrowers for home loans. These changes were very controversial and as a result, the regulators agreed to revisit the rule after it had been fully implemented for seven years. Thus in 2002, the regulators opened up the regulation for review and potential revision.[citation needed]

Part of the increase in home loans was due to increased efficiency and the genesis of lenders, like Countrywide, that do not mitigate loan risk with savings deposits as do traditional banks using the new subprime authorization. This is known as the secondary market for mortgage loans. The revisions allowed the securitization of CRA loans containing subprime mortgages. The first public securitization of CRA loans started in 1997 by Bear Stearns. [6] The number of CRA mortgage loans increased by 39 percent between 1993 and 1998, while other loans increased by only 17 percent. [7] [8]

Other rule changes gave Fannie and Freddie extraordinary leverage, allowing them to hold just 2.5% of capital to back their investments, vs. 10% for banks. By 2007, Fannie and Freddie owned or guaranteed nearly half of the $12 trillion U.S. mortgage market. [9
http://en.wikipedia.org/wiki/Community_Reinvestment_Act


This the opinion of many as to why we have this current mess..


Could you enlighten us as to what policies President Bush put forward to make this happen.

And I think Bush was a ass for not changing the act. but his policies did not cause this.

   

I guess not

   

Has absolutely nothing to do with the current crisis. Nothing.

   

Nothing???? at all?????

   

And could you please enlighten us?

   

And who and what said it did?????

But since you brought it up IT DOES!

   

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