"AA" roots of credit crisis

[Libsmasher]

I haven't heard any mention of this - probably because the historical memory of most lib media talking heads goes back about one year.

One of the causes, a big one, of the credit crisis goes back to the four-year running disaster of the Jimmy Carter administration.

In 1977, the democrat House, democrat Senate, and Jimmy Carter, passed the Community Reinvestment Act, basically "affirmative action" in mortgage lending, in which banks were forced to lend to financially unqualified minorities. This by itself is probably the origin of the sub-prime loan, and in any case lots of the threatened investment banks had big stakes in this type of risky loan. Eg, take bailed-out Bear-Stearns (wiki):

Bear Stearns made the first public securitization of Community Reinvestment Act (CRA) loans started in 1997. [4] Economists claim that the CRA loans were lend to otherwise uncredit worthy consumers done in the name of ending discrimination.[5] [6]

 

[Dawkinsrocks]

And poor old Bush just stood there like a bemused half-wit watching it scale out of control.

But it's not his fault.

He can't help being stupid.

 

[Libsmasher]

And poor old Bush just stood there like a bemused half-wit watching it scale out of control.

But it's not his fault.

He can't help being stupid.

No intelligent comment or rebuttal? No facts or arguments?

Quit cluttering my threads with your puerile crap.

 

[Dawkinsrocks]

Oh you couldn't see the message.

Bush has been in power for 8 years and this disaster has occurred on his watch.

It wasn't something that happend before his watch and then laid doormant until it went off like a time bomb.

But to be fair stupidity would be a very convincing defence for Bush

 

[Libsmasher]

Oh you couldn't see the message.

Bush has been in power for 8 years and this disaster has occurred on his watch.

It wasn't something that happend before his watch and then laid doormant until it went off like a time bomb.

But to be fair stupidity would be a very convincing defence for Bush

Why don't you stop making these stupid posts that only show how ignorant you are of the american political system? Bush couldn't do anything about a LAW that required loans to the unqualified. Blaming Bush for not changing a stupid law, instead of the creators of the law, is militant Bushophobic imbecilism.

 

[Dawkinsrocks]

Ahh I see.

So Bush couldn't do anything except sit back and watch it happen.

Like he did when reading his little goat story.

Ahh, poor stupid Georgey Worgey

 

[Libsmasher]

Ahh I see.

So Bush couldn't do anything except sit back and watch it happen.

Like he did when reading his little goat story.

Ahh, poor stupid Georgey Worgey

Do yourself and everyone else a favor - STFU.

 

[Dawkinsrocks]

I am only displaying synpathy for poor old Dubbya sitting there watching all this bad stuff going on around him that was all caused by democrat governments of old and not being able to do anything about it.

The poor man. I mean, most people think he is a lousy president running a corrupt government but we know better eh Lib?

It isn't his fault he is stupid,

 

[bododie]

Anyone wonder if Dawkinsrock is that fool Iraqi minister who claimed that we were being run out of Bagdad when the interview showed the tanks about to run his ass over? Silly little boy.

 

[GOP(JT)]

Anyone wonder if Dawkinsrock is that fool Iraqi minister who claimed that we were being run out of Bagdad when the interview showed the tanks about to run his ass over? Silly little boy.

ROFL i keep getting pictures of osama bin laden hunched over a laptop in his lil cave posting away on HoP

 

[Dawkinsrocks]

You mean that beardy guy that the US defences couldn't stop and they still can't find him.

Is that the one?

 

[The Scotsman]

Anyone wonder if Dawkinsrock is that fool Iraqi minister who claimed that we were being run out of Bagdad when the interview showed the tanks about to run his ass over?

................they called him "Comical Ali"........enjoy

 

[Phoenix68]

I haven't heard any mention of this - probably because the historical memory of most lib media talking heads goes back about one year.

One of the causes, a big one, of the credit crisis goes back to the four-year running disaster of the Jimmy Carter administration.

In 1977, the democrat House, democrat Senate, and Jimmy Carter, passed the Community Reinvestment Act, basically "affirmative action" in mortgage lending, in which banks were forced to lend to financially unqualified minorities. This by itself is probably the origin of the sub-prime loan, and in any case lots of the threatened investment banks had big stakes in this type of risky loan. Eg, take bailed-out Bear-Stearns (wiki):

PROBABLY!!!!!!
.

SEE: 4:40 THRU 12:00
.

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