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Forbes: A Poisonous Cocktail-Expanding the Community Reinvestment Act (affirmative action mortgages)
Forbes Magazine ^ | 10/5/09 | Peter Schweizer

Posted on 10/04/2009 5:41:06 PM PDT by avoiceinwilderness

As we try to shake off the financial crisis, here's a bright idea. Take a law that has led to the writing of an enormous amount of bad mortgages and expand it. Then take enforcement away from bank examiners and give it to housing activists.

Sound like a poisonous cocktail? Well, it is what the Obama administration and Democrats are currently stirring up on Capitol Hill.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: 111th; acorn; agenda; bankofamerica; bho44; billclinton; clowardpiven; cra; eddiebernicejohnson; jpmorganchase; mortgage; obama
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1 posted on 10/04/2009 5:41:07 PM PDT by avoiceinwilderness
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To: avoiceinwilderness

Here we go again. This just proves the dimoKKKRATS are to blame for the current fiscal crisis and are about to destroy it even more.


2 posted on 10/04/2009 5:42:52 PM PDT by Parley Baer
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To: avoiceinwilderness

If there was ever any doubt that the goal of Obammie and his Commies is to destroy the US economy and to hand out as many US dollars as possible while they still have some value, let these little flashes of truth light the way.


3 posted on 10/04/2009 5:43:33 PM PDT by Ghost of Philip Marlowe (I'd rather be a teabagger than an ankle-grabber.)
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To: avoiceinwilderness

Cue the “Aw jeez” guy.

Wasn’t this done already and didn’t it significantly contribute to the recent financial meltdown?


4 posted on 10/04/2009 5:43:35 PM PDT by Califreak (If it's Astroturf, why are you trying to mow it?(sign seen at a town hall meeting))
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To: avoiceinwilderness

Oh, but Obama and the democRATs are not Marxists.


5 posted on 10/04/2009 5:46:44 PM PDT by South40 (Islam has a long tradition of tolerance, ~Hussein Obama, June 4, 2009, Cairo, Egypt)
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To: Parley Baer

Isn;t this the Cloward-Plovin (sp) in ACTION??? OVERWHELM and wait for the COLLAPSE and put in SOCIALIST and FASCIST GOVERNMENTS!!! OMG! Bammy and the OTHER DEMOCRATS are DANGEROUS.


6 posted on 10/04/2009 5:48:05 PM PDT by Ann Archy
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To: avoiceinwilderness

Well hey, if it hasn’t worked yet I’m guessing its due for a breakthrough this time. :)


7 posted on 10/04/2009 5:50:12 PM PDT by Tzimisce (No thanks. We have enough government already. - The Tick)
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To: avoiceinwilderness

I know Steve Forbes didn’t write this, but he is so clear on these financial issues that I wish he would run in 2012. He would nullify Mitt on economic issues, and his a such a great spokesman for capitalism in general. Even if he didn’t get the nomination, he would force the field to sharpen up on these issues and make the party stronger. He’d also be a great VP candidate in the event he didn’t win.

When he ran in the past, we were not facing the economic situation we do today. Things were humming along then, and he didn’t fit the situation at the time.


8 posted on 10/04/2009 5:56:50 PM PDT by ilgipper
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To: avoiceinwilderness

This is freaking insanity. Democrats are determined to divide and destroy this country in order to keep a permanent grip on power.


9 posted on 10/04/2009 6:06:04 PM PDT by dr_who
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To: avoiceinwilderness; All

10 posted on 10/04/2009 6:12:56 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: avoiceinwilderness

Shriek. We’ve learned nothing. CRA is the single biggest root cause of the housing bubble and its collapse.


11 posted on 10/04/2009 6:13:21 PM PDT by RightOnTheLeftCoast (Cheney/Palin 2012!)
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To: avoiceinwilderness

Almost makes you wonder whether the Republicans are destined to play the role that the Menshaviks played during the 1917 revolution: the suckers.


12 posted on 10/04/2009 6:13:55 PM PDT by dr_who
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To: avoiceinwilderness

how about affirmative action tax cuts


13 posted on 10/04/2009 6:16:47 PM PDT by dalebert
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To: avoiceinwilderness

Last week we got a letter from our bank saying they would loan us up to 125% of the vaule of the house. I felt like sending the letter back with WTF written in red marker across it...


14 posted on 10/04/2009 6:19:42 PM PDT by SERKIT ("Blazing Saddles" explains it all.....)
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To: Ann Archy
"Isn;t this the Cloward-Piven in ACTION???"

Indeed it is.

Anyone besides me watch "Dr. Zhivago" last night? Honestly we really have to start calling them what they are. Instead of "The Democrats in Congress...." I personally prefer "The Bolsheviks in Congress...."

They ceased being "Democrats" many years ago.

15 posted on 10/04/2009 6:26:00 PM PDT by oprahstheantichrist (The MSM is a demonic stronghold, PLEASE pray accordingly - 2 Corinthians 10:3-5)
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To: avoiceinwilderness

Anyone else tired of preferential treatment for deadbeats in every aspect of life?


16 posted on 10/04/2009 6:36:48 PM PDT by Psalm 144
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To: avoiceinwilderness

The article left out the millions of homes that should be foreclosed on, who haven’t made payments for months upon end. But somehow, they haven’t been foreclosed on...


17 posted on 10/04/2009 6:38:48 PM PDT by Freddd
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To: AdmSmith; Berosus; bigheadfred; Convert from ECUSA; dervish; Ernest_at_the_Beach; Fred Nerks; ...
Take a law that has led to the writing of an enormous amount of bad mortgages and expand it. Then take enforcement away from bank examiners and give it to housing activists.

18 posted on 10/04/2009 6:49:21 PM PDT by SunkenCiv (https://secure.freerepublic.com/donate/__Since Jan 3, 2004__Profile updated Monday, January 12, 2009)
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To: Ann Archy
I've said this before and I'll say it again:

Each and every day, and in every way, I'm coming more and more to suspect that 0 is using liberalism and marxism and the Cloward-Piven Strategy as a populist cover and a conniving tool in a concerted Machiavellian effort (sprung from the mind of Frank Marshall Davis?) to bring America to its knees via fascism (Are we becoming a fascist nation?) to ripen America for a complete islamic conquest of the country.

He wants to hear that "sweetest sound at sunrise" blasted from speakers atop the White House and watch everyone in his administration stick their butts in the air five times a day on their official White House prayer mats.

Cloward-Piven Strategy, aka Cloven-Piven (which is it? I don't know):

The strategy of forcing political change through orchestrated crisis. The "Cloward-Piven Strategy" seeks to hasten the fall of capitalism by overloading the government bureaucracy with a flood of impossible demands, thus pushing society into crisis and economic collapse.

19 posted on 10/04/2009 6:49:53 PM PDT by the anti-liberal
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To: Parley Baer
Photobucket

20 posted on 10/04/2009 7:09:16 PM PDT by Dick Bachert
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