Hey, thanks for the link to Beck!
That went pretty well until this little line:
**President Bush in 2004 launched his down payment initiative which provided assistance to low income families to help them with their initial down payment, which was quickly followed by his zero down payment initiative which eliminated the requirement of a minimum 3% down payment for FHA insured single family mortgages. If you were a first time buyer, zero down. In 2005 Barack Obama said it’s not good enough that the real estate market is prospering for some. Everyone has to be able to get affordable housing.**
But then THIS paragraph follows:
**Barney Frank said no one wants to be called out for racism by opposing any of these requirements. In 2007 Barney Frank went on to say the data showing serious housing discrimination in the granting of mortgages in Boston is very troubling. The serious housing discrimination in Boston is troubling and must be addressed. Same year, Senator Chris Dodd proudly took credit for helping pass a revised Community Reinvestment Act with the help of Reverend Jesse Jackson. Earlier this year Senator John McCain responded to a question by Larry Kudlow. He said, “Absolutely there were people that predicted that the Community Reinvestment Act might lead to reckless and unsound lending practices just short of a fill in the amount of I don’t like to use the word quota, but certain percentages of a home of the bank’s lending practices, it has to be reexamined. It has to be judged by its effect. We need to find out how this particular system affected the overall insolvency of the subprime lending issue and I think I’m not saying it needs to be repealed but it certainly needs to be examined and what its effects have been and we’ll be able to figure that out. Really. As Nancy Pelosi says, along with Harry Reid, that we need to create yet another government agency to handle these situations. That we need another federal agency now to help bail out the people that got these loans because there wasn’t any oversight. I contend it was the politicians that pushed people into this situation. It was the politicians that made this possible, and it was not just the Democrats. It was the Republicans as well.**
What a tangled web we weave. :(
I don’t go much for this cult of personality thing, where certain people can do no wrong. IF Bush messed up (and he did in this case) then he needs to get called out on it.