ARE YOU NEW HERE? NOT LOGGED IN? PLEASE TAKE A MOMENT TO REGISTER FOR AN ACCOUNT AND LOGIN TO REMOVE THIS WINDOW
Welcome to PatsFans.com. Do you have an account? If not - please take a moment to register for our forum and experience a much smoother experience with fewer ads, along with no longer having to see this notification window. Also learn about how you can receive a free Patriots T-Shirt from the Patriots Official ProShop by CLICKING HERE. Please enjoy your stay here, and Go Pats!
To view links or images in signatures your post count must be 10 or greater. You currently have 0 posts.
DONATE TO PATSFANS.COM
RECEIVE A FREE PATS T-SHIRT AND SAVE 15% OFF WHEN YOU BUY FROM THE OFFICIAL PROSHOP!
Free T-Shirt & Save 15% Off!
Like Our Site? Please help support our site and server costs by DONATING TO PATSFANS.COM and receive a FREE PATRIOTS T-SHIRT and SAVE 15% off EVERY purchase you make from PatriotsProShop.com. You'll also receive added benefits to your account including Removing All Ads During Your Experience Here At Our Forum.
NEEDED YEARLY SITE DONATIONS: 345 | CURRENT # OF SUBSCRIBED SUPPORTERS: 98
Plenty of sleezey characters roaming the halls of financial institutions for sure -- absolutely no argument out of me on that.
Yet, the door was opened by the CRA (Community Reinvestment Act), legislation first pushed by Jimmy Carter, then expanded to ten times its size, or more, under Bill Clinton, and passed by Democrat Congresses.
People like Barney Frank and Chris Dodd knew the potential for abuse when they saw that banks would be legally coerced to loan money to people who had little or even no credit history whatsoever. Frank and the other Dems wanted to be Robin Hoods: take from the "rich" (those who actually pay their taxes and give substantial money to the government) and give to the poor (those who did not pay much in the way of taxes).
Then, when shady people saw how much of this federally mandated money was available, they found ways to make this into a national Ponzi scheme, where property "flipping" became a national "get rich quick" game. Remember all those late night cable programs telling us how to buy all kinds of property with "No Money Down"??? This is where it all started: the CRA.
Jimmy Carter, Bill Clinton, Barney Frank, and Chris Dodd: all guilty of setting up this national shell game, this ultimate "house of cards", which has now come crashing down. It was a foregone conclusion from the get go.
"All that is required for evil to triumph is for good to do nothing."
Last edited by Fogbuster; 10-06-2008 at 04:47 AM..