Do you know that the Community Reinvestment Act, thanks to Jimmy Carter, and supercharged by Bill Clinton is the reason for today's financial meltdown?
by 
Cowboy-Matter of Fact
ANSWERS: 7
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Just following up with the video; it's sure worth thinking about: Thanks again for the info. Boss :0)
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Yes I did. But don't forget that when Republicans in Congress wanted to put regulations on Fannie and Freddie, Barney Frank and Chris Dodd prevented it. Barney Frank has dated a Fannie Mae executive and the media hasn't even mentioned it. http://www.businessandmedia.org/printer/2008/20080924145932.aspx
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This video is also worthy of watching if you really want to understand how it is that we got to where we are.
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"To be sure, there's plenty of blame to go around. However, I want to give you my verdict on CRA(Community Reinvestment Act): Not guilty." ~Sheila Bair, Chairman, FDIC
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I did not know that, and I'll look into it very soon. I am, however, skeptical of the claim. You say two Democrats with three terms among them are the cause of the economic crisis, but from Carter until now we've had five Republican terms --- not to mention that Clinton was the only one that left office with a surplus. The claim is intellectually dishonest.
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Yes that was the start of it. One time where good intentions led to the proverbial hell. It has continued to this day with the Barney Franks of the world. Why Massachusetts keeps sending him back to Congress is a mystery. If the intention was to allow more people to buy houses, it was perverted by not making sure they had the means to pay for them. Lots of people in the financial world have fixed their family wealth for generations to come leaving the middle class, as usual, holding the bag.
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No. I do not Know this, and neither do you. You believe that, because you choose to believe it. There is enough blame to go around and as the republicans where in power during the time in question, it is as much their fault as the democrats... maybe more.
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