The CRA and Key Players

Various ^ | 27 Sep 2008 | Self

[TruthWillWin]

In 1995 the Clinton administration authorized subprime loans under the CRA. Democrats added these provisions for the securitization of subprime loans and then ENFORCED the lending to high risk individuals. By 2000, one trillion dollars had been loaned to subprime borrowers.

You need to add some of this information after that sentence:

How A Clinton-Era Rule Rewrite Made Subprime Crisis Inevitable

Explains changes Clinton made in 1997 that caused CRA loans to expand considerable with Fannie Mae/Freddy Mac taking all the risk. Ground zero for the current mess we are in.

[Squantos]

Cool ....do ya care if I post it on my posts ?

http://www.rc4systems.net/Downloads/Docs/CRA-Notes-27Sep2008.pdf

[hiredhand]

You go RIGHT ahead! If SP complains about the circuit getting soaked, I'll move her over to the Road Runner biz class circuit here.

Go for it buddy!

[hiredhand]

I would, and I DO appreciate you posting that here, but I think it's important to keep the document fairly short. I'm having a small bit of trouble getting people to read all the way through it. They tend to not want to go to the trouble. But if they will, then they'll go research things like what you've posted and hopefully call their legislators and say not only NO but

HELL NO!

[Squantos]

Now do NOT let me piss off Sweetie Pie !.......LOL !

I’d rather have the Taliban after me than SP .....:o)

http://www.rc4systems.net/Downloads/Docs/CRA-Notes-27Sep2008.pdf

[hiredhand]

I’d rather have the Taliban after me than SP .....:o)

Lawd-a-Mercy! ...that's a good example of being between a rock and a hard place!...having to choose between Taliban chasing you down, or HER! I'll have to think on that one! :-)

Seriously...I've got to get her moved over to the RR biz class circuit anyway, and all I have to do is change the route on her PC...it's EASY! I'll do it NOW in fact and she'll never be any worse for wear! :-)

[Squantos]

Kinda like tap dancin in the mine fields ain’t it ?.....:o)

http://www.rc4systems.net/Downloads/Docs/CRA-Notes-27Sep2008.pdf

[hiredhand]

Kinda like tap dancin in the mine fields ain’t it ?.....:o)

Er...worse really! I just realized that I can't move her PC over to the RR circuit. Her workstation is also the internal mail server! OOPS. Its traffic MUST go out the static circuit!

If she notices, I'll be a "nice guy" and offer to share my workstation. :-) That might work! :-)

[ForGod'sSake]

Scanning through this thread I noticed your post. Maybe this will help clear things up?

Villain Phil(Gramm)(Dimocrat Financial Shape-Shifting)

[TruthWillWin]

....but I think it's important to keep the document fairly short....

The Democrats spin (propaganda/lies) is that the current problem was caused by deregulation. Deregulation had nothing to do with the changes at Fannie Mae/Mac that gave birth to the current financial mess. By including some of the information from the link I provide it will show exactly where the problem began, very important in my opinion to debunk the deregulation lies.

Following is the relevant information that I believe should be included in your summary:

Rather than submit legislation that the GOP-led Congress was almost sure to reject, Clinton ordered Robert Rubin's Treasury Department to rewrite the rules in 1995.

Clinton's HUD secretary, Andrew Cuomo, "made a series of decisions between 1997 and 2001 that gave birth to the country's current crisis," the liberal Village Voice noted. Among those decisions were changes that let Fannie and Freddie get into subprime loan markets in a big way.

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.

Since they could borrow at lower rates than banks due to implicit government guarantees for their debt, the government-sponsored enterprises boomed.

Link to entire article:

How A Clinton-Era Rule Rewrite Made Subprime Crisis Inevitable

[TruthWillWin]

Link on post #50 was not correct. Here is the correct link:

How A Clinton-Era Rule Rewrite Made Subprime Crisis Inevitable

[hiredhand]

I linked the info you told me about HERE.

It was short and and easy to understand. I think will be helpful to anybody who will read it. Thanks!

[NewRomeTacitus]

Tried to bring it up but I suspect you just helped bust a server. On the other hand the Verizon supposedly-invulnerable network is having problems as well.

[hiredhand]

Try again. I had to take the site down due to a BAD thunderstorm that just rolled through....the servers and everything are up running now.

[hiredhand]

If you go to http://www.rc4systems.net, the video and the documents are all linked there at the top of the page. One document focuses on William Clinton's role in the creation of the crisis.